On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 18/04/2013.
25.
—(1) Without prejudice to anything in any written law relating to companies, co-operative societies, societies, limited liability partnerships or partnerships, any person who is a director, manager or secretary of a licensed housing developer or who holds a position analogous to that of a director, manager or secretary shall cease to hold office —
(a)
if he becomes bankrupt, suspends payment or compounds with his creditors; or
(b)
if he is convicted of an offence involving dishonesty or fraud.
(2) No person who has been a director of, or directly concerned in the management of, the business of a licensed housing developer that has been wound up by a court shall, without the approval in writing of the Minister, act or continue to act as a director of, or be directly concerned in, the management of the business of any licensed housing developer.
(3) Any person who acts in contravention of subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to imprisonment for a term which shall not be less than 12 months, but which shall not exceed 3 years and shall also be liable to a fine not exceeding $10,000.
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