—(1) Where any foreign person is the owner or purchaser of any land other than residential property prior to 11th September 1973, or has after that date acquired or purchased any such land, that foreign person shall be required to make application to the Minister (through the Controller) for the grant of approval to change the existing use of such land (whether it is land, a house, a building or other premises or part thereof) to use for any purpose other than industrial or commercial, prior to his making an application to the competent authority, appointed under the Planning Act (Cap. 232), for such change; and such foreign person shall not be granted permission under that Act for such change of use unless he has been granted approval by the Minister for the change.
(2) The Minister may, when granting any approval under subsection (1), impose such conditions as he thinks fit, including all or any of the following:
that the applicant shall provide such security as may be determined by the Minister for the purposes of complying with any condition imposed by the Minister;
that the applicant shall give an undertaking in writing to comply with the conditions imposed by the Minister.
(3) Where an applicant has failed to comply with any of the conditions imposed by the Minister under this section, the Minister may forfeit the security provided by the applicant under this section after giving 21 days’ notice in writing to the applicant of his intention to forfeit the security and the grounds thereof.
(4) An applicant may, upon receipt of the notice under subsection (3), appeal to the Minister within 3 months of such notice.