—(1) Unless otherwise allowed by the Minister, a person —
shall not be eligible to purchase from an approved developer any housing accommodation under this Part; and
shall cease to be eligible to be a purchaser of such a housing accommodation,
if such person or his spouse is not entitled to purchase from the Board any flat, house or other living accommodation under Part IV or ceases to be entitled to be such a purchaser.
(2) A person shall not present for registration under the Land Titles Act (Cap. 157) the assurance of the housing accommodation he has purchased under this Part if —
the person purchased the housing accommodation when he was not eligible to do so under subsection (1); or
the person has ceased to be eligible to be a purchaser of such a housing accommodation under subsection (1).
(3) Where the approved developer is notified by the Board that a purchaser has purchased a housing accommodation from the approved developer when he is not eligible to do so under subsection (1), or the purchaser has ceased to be eligible to be an owner of such a housing accommodation under that subsection, the approved developer shall —
serve a written notice upon the purchaser of the housing accommodation of its intention to lodge with the Registrar of Titles an instrument under subsection (6) for the vesting in the approved developer of the title to or the estate or interest in that housing accommodation; or
where no assurance has been registered in favour of the purchaser, unless otherwise directed by the Board, cancel the purchaser’s application and serve a written notice upon the purchaser of the housing accommodation of its intention to terminate the sale and purchase agreement.
(4) An approved developer shall not be liable to any purchaser or former purchaser, as the case may be, for any loss suffered, directly or indirectly, by the purchaser or former purchaser solely on account of the cancellation of his application, or the termination of the sale and purchase agreement, by the approved developer in accordance with subsection (3).
(5) Any purchaser of a housing accommodation sold under this Part who is aggrieved by the service of a written notice under subsection (3) in respect of his housing accommodation may, within 14 days after service of the notice, appeal to the Minister whose decision shall be final and shall not be called in question in any court.
(6) Where an appeal has been made to the Minister under subsection (5), the approved developer shall not proceed to lodge any instrument for the vesting of the title to or the estate or interest in the housing accommodation in itself until the appeal has been disposed of.
(7) The Registrar of Titles shall register any instrument referred to in subsection (6) without being concerned to inquire into its regularity or validity, and upon its registration —
the title to or the estate or interest in the housing accommodation shall vest in the approved developer without further assurance free from all encumbrances (except such subsisting covenants, conditions or restrictions, if any, as may be binding upon the approved developer); and
the Registrar of Titles shall cancel the registration of any mortgage, charge or assurance thereby overreached and any caveat protecting a mortgage, charge or assurance registered or notified on the land-register.
(8) Where an approved developer has lodged any instrument referred to in subsection (6) in respect of any such housing accommodation, the approved developer may, in accordance with the sale and purchase agreement for the housing accommodation, forfeit such portion of any moneys paid or deposited in respect of the purchase of that housing accommodation, and any balance thereof, less any administrative and legal costs reasonably incurred by the approved developer in connection with the sale and resale of the housing accommodation and with the discharge of all prior legal encumbrances, shall be refunded to the purchaser of the housing accommodation and such other persons as are entitled to the moneys.
(9) If any question arises as to whether any particular person is eligible to purchase from an approved developer any housing accommodation under this Part, or has ceased to be eligible to be a purchaser of such a housing accommodation, a certificate signed by an officer of the Board authorised for this purpose stating that the person is not eligible to purchase from the Board any flat, house or other living accommodation under Part IV shall be conclusive evidence of that fact stated in that certificate.