Where,
on or after the appointed date, a reference is made in any written law
to the “Housing (Control and Licensing of Developers) Enactment 1978”’,
such reference shall be construed as a reference to the “Housing
Development (Control and Licensing) Enactment 1978” [En. 4/05]
HOUSING
(CONTROL AND
LICENSING OF DEVELOPERS)
ENACTMENT,
1978
(No. 24 of
1978)
HOUSING
(CONTROL AND LICENSING OF
DEVELOPERS) RULES 1980
(G.N.S 17 of
1980)
In
exercise of the powers conferred by section 26 of
the Housing (Control and Licensing of Developers) Enactment 1978 [En. No. 24 of 1978], the Minister
of Local Government and Housing hereby makes the following rules:
Citation.
1. These Rules may be cited
as the Housing (Control
and Licensing of Developers) Rules 1980.
Interpretation.
2. In these Rules, unless
the context otherwise
requires ―
“advertisement”
means any notification or intimation of housing development ―
(a) published
in any newspaper, journal or magazine or in the form of a brochure or
in any other form; or
(b) displayed
on any hoarding, boarding, roof, wall, paling, fence, frame, signboard,
plate, cloth, bar, pillar, post, wire-casting or other erection,
structure or contrivance; or
(c) conveyed
by means of films within the meaning of the Films (Censorship) Act 1952
[Act 35] or by means of broadcast sound receivers
or television receivers within the meaning of the Telecommunications
(Television Receivers) Regulations 1964 [L.N. 69/64]; or
(d) conveyed
by any other means oral, or written, whether of the same kind or not as
set out in paragraphs (a) to (c);
“Appropriate
Authority” means any authority for the time being authorised under any
written law in force in
“charge”
means charge as defined in section 4 of the Ordinance;
“contract of
sale” means a contract between a licensed housing developer and a
purchaser for the sale and purchase of housing accommodation including
the lands appurtenant to such housing accommodation;
“Director”
means the Director of Lands and Surveys appointed under section 47 (1)
of the Ordinance, and includes a Deputy Director of Lands and Surveys
appointed thereunder;
“land” means
the land on which a housing developer proposes to erect housing
accommodation or on which he is erecting housing accommodation
including the lands appurtenant to the housing accommodation;
“Ordinance”
means the Land Ordinance [Cap. 68];
“portion”
means a subdivisional portion of any land
comprised in any document of title made under section 40 of the
Ordinance;
“proprietor”
means any person or body for the time being registered as the
proprietor of any alienated land;
“subdivided building” means a
subdivided building
as defined in section 2 of the Land (Subsidiary Titles) Enactment 1972 [En.
No. 9 of 1972].
Application
for a
licence under section 5 (1) of the Enactment.
3. (1)
The
applicant for a licence under the provisions of subsection (1) of
section 5 of the Enactment shall ―
(a) submit
his application in the form prescribed in Schedule A to these Rules
together with such documents as specified in section 5 (3) of the
Enactment; and
(b) supply such information as may be required by the
Controller.
Any
misrepresentation of any particulars in
subparagraph (a) or (b) of this paragraph shall be an
offence under these Rules.
(2) The
Controller may, in his discretion, grant a licence with or without
attaching any condition or conditions thereto or refuse to grant a
licence.
(3) The fee
payable for a licence under this rule shall be one hundred ringgit per
annum.
Permit
for
advertisement required.
4. (1)
No
advertisement shall be made without a permit in writing having been
first obtained from the Controller.
(2) An
applicant for a permit shall —
(a) make
the application in the form prescribed in Schedule B to these Rules;
(b) supply
such particulars or information as may be required by the Controller;
and
(c) supply two copies of the advertisement in respect
of which the permit is sought.
Any
misrepresentation of any
particulars in subparagraph (a), (b) or (c) of
this paragraph shall be an offence under these Rules.
(3) The
Controller may, in his discretion, grant a permit for an advertisement
with or without attaching any condition or conditions thereto or
refuses to grant a permit.
(4) A
permit granted by the Controller shall be in respect of one housing
development but any subsequent advertisement in relation to the same
development, which differs from that for which the permit was first granted may be made subject to such deviation
being submitted for the prior approval of the Controller.
(5) The fee
payable for a permit under this rule shall be fifty ringgit.
Conditions
for the
granting of permit.
5. (1)
No
permit for advertisement as provided in rule 4 of these Rules shall be
issued nor shall any advertisement be made for any housing development
in respect of which —
(a) the
licensed housing developer is not the proprietor of the land upon which
the housing development is proposed to be carried out:
Provided that this provision shall not apply if the
proprietor of such land has executed an agreement with the licensed
housing developer to the effect that ―
(i)
the proprietor agrees to the sale of the land for
the purposes of the housing development concerned; and
(ii) the
proprietor agrees to abide by the provisions of rule 11 of these Rules;
(b) the
land upon which the housing development is proposed to be carried out
is charged for an amount exceeding fifty per centum including annual
interest of the market value of the land and such charge is to any
person, body of persons, company, firm or society other than a bank
which is in possession of a licence issued under the provisions of
section 3 of the Banking Act 1973 [Act 102];*
(c) the
licensed housing developer has not obtained the written approval of the
Appropriate Authority in regard to the lay-out plans for the proposed
housing development; and
(d) the licensed housing developer has not applied in
writing to the Director or Collector of Land Revenue under section 40
subsection (1) of the Ordinance for the subdivision of the land upon
which the housing development is proposed to be carried out.
(2) This
rule shall not apply to subdivided buildings.
Particulars
to be
included in advertisement.
6. Any advertisement (other
than that conveyed by
means of broadcast sound receivers or through television receivers)
made by a licensed housing developer shall include the following
particulars ―
(a) the
licence number of the licensed housing developer;
(b) the
permit number of the advertisement;
(c) the
name and address of the licensed housing developer or his authorised
agents (if any) as approved by the Controller;
(d) the
tenure of the land and encumbrances, if any, to which the land is
subject; and
(e) the
expected date of completion of the proposed housing development:
Provided
that in the case of classified or
semi-classified advertisements in newspapers it shall not be necessary
to include the licence number and the advertisement permit number.
Name
appearing in
advertisement.
7. An advertisement shall
not contain the name of
any person, body of persons, society or company except that of the
licensed housing developer or his authorised agent as approved by the
Controller.
Use
of name or emblem
for site.
8. (1)
Every
licensed housing developer shall, before using any name or emblem for
any site forming part of a housing development, obtain the written
permission of the Controller for such use.
(2) The
Controller may, in his discretion grant permission for such use, with
or without attaching any condition or conditions thereto or refuse to
grant permission for such use.
Advertisement
shall
not contain certain descriptions.
9. (1)
Any
name in any language by which any site forming part of a housing
development is proposed to be called or any emblem used in connection
therewith shall not contain anything which suggests or is calculated to
suggest —
(a) the
patronage of the Yang di-Pertuan Agong or of any of the members of his
family;
(b) any
patronage of the Heads of State of any of the States of Malaysia or any
of the members of their families;
(c) any
connection with the Government, Government of any States in Malaysia,
any Municipality, Town Board, District Council, or society or body
established and incorporated by statute, or public building or place;
(d) any
connection with the Government of any part of the Commonwealth or any
foreign country or the United Nations; and
(e) any attribute to which the licensed housing
developer cannot genuinely lay proper claim.
(2) This
rule shall be in addition to and shall not be in derogation from the
provisions of the Emblems and Names (Prevention of Improper Use) Act
1989 [Act 414] and any similar State legislation.
Payment
of booking fee.
10. (1)
A
purchaser of housing accommodation including the land shall not be
required to pay a booking fee of a sum exceeding 2.5 per centum of the
purchase price of such housing accommodation including the land.
(2) Notwithstanding
paragraph (1) of this rule, no purchaser of a housing accommodation
including the land shall be required to pay a booking fee of a sum
exceeding one thousand ringgit.
(3) For
purposes of this rule, the term “booking fee” shall include any payment
by whatever name called which payment gives the purchaser an option or
right to purchase the housing accommodation including the land.
Proprietor
to be a
party to a contract of sale.
11. (1)
No
licensed housing developer who is not the proprietor of the land upon
which a housing development is carried out shall enter into any
contract of sale of any housing accommodation in that housing
development unless the proprietor of the land is also a party to such
contract of sale and agrees to the sale of the land for purposes
specified in such contract of sale.
(2) For the
purpose of the preceding paragraph (1), such provisions in rule 12 as
applied to a licensed housing developer in his capacity as a proprietor
of the land shall be applicable to a proprietor entering into a
contract of sale as prescribed under the provisions of the preceding
paragraph (1).
Contract
of sale.
12. (1)
Every
contract of sale shall be in writing and shall contain within its terms
and conditions provisions to the following effect, namely ―
(a) provisions
binding on the licensed housing developer that the land sold to the
purchaser together with the housing accommodation to be erected thereon
is free from —
(i)
any agricultural or industrial condition expressed
or implied; and
(ii) any
restriction against the construction of such housing accommodation;
(b) provisions
binding on the licensed housing developer that immediately after a
contract of sale has been signed the licensed housing developer shall
not subject the land sold to the purchaser to any encumbrance without
the prior approval of the purchaser;
(c) provisions
binding on the licensed housing developer to ensure that the land sold
to the purchaser shall be free from any encumbrance immediately prior
to the handing over of vacant possession of the housing accommodation
to the purchaser;
(d) provisions
specifying a statement relating to the purchase price of the land sold
to the purchaser together with the housing accommodation to be erected
thereon;
(e) provisions
setting out the scheme of payments of the purchase price by instalments
as prescribed in Schedule C to these Rules;
(f) provisions
describing the layout plan particularly specifying the measurements,
boundaries and areas of the land sold to the purchaser upon which the
housing accommodation is to be erected and also specifying the position
of such land in relation to the housing development area;
(g) provisions
stating that in the event of the measurements, boundaries and areas of
the land sold to the purchaser as described in the layout plan in the
contract of sale being different from the measurements, boundaries and
areas of such land as shown in the subsequent issue of the new document
of title to such land the purchase price shall be adjusted equitably.
The price of such land for purpose of adjustment shall be calculated as
the same price per square foot as was used to calculate the purchase
price stated in the contract of sale and any payment resulting from the
adjustment and requiring to be paid by the party concerned shall be so
paid within seven days of the issue of the new document of title;
(h) provisions
binding on the licensed housing developer that the layout plan of the
housing development area including the land upon which the housing
accommodation is to be erected for the purchaser has been duly approved
by the Appropriate Authority and no alteration to the approved layout
plan shall be made or carried out except as may be required by the
Appropriate Authority or as may be certified to be expedient or
necessary by the architect of the licensed housing developer. Such
alteration shall not annul the contract of sale or be subject of any
claim for damages or compensation by or against any party to the
contract of sale;
(i)
provisions binding on the licensed housing
developer that the housing accommodation to be erected for the
purchaser shall be constructed in good and workmanlike manner in
accordance with the specifications and plans described in the contract
of sale which specifications and plans have been approved by the
Appropriate Authority and agreed to by and between the purchaser and
the licensed housing developer. No charges thereto or deviation therefrom shall be made without the consent of
the purchaser except such as may be required by the Appropriate
Authority or certified by the architect of the licensed housing
developer to be expedient or necessary. The cost of such changes or
deviations shall be borne by the licensed housing developer and no
claim whatsoever may be made against the purchaser;
(j) provisions
binding on the licensed housing developer that he shall in relation to
the housing accommodation to be erected for the purchaser conform with
all the written laws for the time being in force affecting such housing
accommodation and shall keep the purchaser indemnified against all
fines and penalties or losses incurred by reason of any breach of the
provision of any written law;
(k) provisions
binding on the licensed housing developer that he shall at his own
costs and expenses construct or cause to be constructed in accordance
with the requirements and standards of the Appropriate Authority or
other public authorities the roads, driveways, drains, culverts, water
mains and septic tanks or sewerage mains or sewerage plants serving the
housing accommodation erected for the purchaser;
(l) provisions
binding on the licensed housing developer that he shall at his own
costs and expenses cause the connection of electricity, water and
sewerage mains of the Appropriate Authority or public authority with
the internal electricity, water and sewerage mains of the housing
accommodation erected for the purchaser;
(m) provisions
binding on the licensed housing developer that he shall at his own
costs and expenses have applied and shall obtain the approval for the
subdivision of the land sold to the purchaser as provided for under the
Ordinance;
(n) provisions
binding on the licensed housing developer that he shall do all acts and
things necessary to procure the issue of the relevant Certificate of
Fitness for Occupation from the Appropriate Authority in respect of the
housing accommodation erected for the purchaser and shall at his own
costs and expenses comply with all the requirements of the Appropriate
Authority in the procurement of such Certificate and shall undertake to
produce such Certificate to the purchaser when issued;
(o) provisions
specifying the date of delivery of the vacant possession of the housing
accommodation to the purchaser which date shall not be later than 24
months after the date of signing of the contract of sale;
(p) provisions
binding on the licensed housing developer that he shall upon the
signing of the contract of sale forthwith use his best endeavour and
take all necessary steps to obtain a separate issue of the document of
title to the land upon which the housing accommodation is erected for
the purchaser and shall upon the issue of the document of title and
provided that the purchaser has paid all moneys due under the contract
of sale and has performed and observed the terms and conditions of the
contract of sale, forthwith execute a valid and registrable
transfer of such land together with the housing accommodation to the
purchaser, his heir or nominee or lawful assignee as the case may be;
(q) provisions
binding on the licensed housing developer that he shall undertake to
remedy any defect, shrinkage or other fault in the housing
accommodation erected for the purchaser which defect, shrinkage or
other fault may become apparent within a period of six calendar months
after the date of delivery of vacant possession to the purchaser by the
licensed housing developer;
(r) provisions binding on the licensed housing
developer that he shall indemnify the purchaser for any delay in the
delivery of the vacant possession of the housing accommodation. The
amount of indemnity shall be calculated from day to day at the rate of
not less than eight per centum per annum of the purchase price
commencing immediately after the date of delivery of vacant possession
as specified in the contract of sale;
(s) provisions
stating the party responsible for the payment of all outgoings
including quit rents and assessments and the manner of making such
payments;
(t) provisions
specifying the penalties to be levied against the purchaser in the
event of his committing any breach of the terms and conditions of the
contract of sale and the manner of levying such penalties;
(u) provisions
binding on the licensed housing developer that the purchaser of the
land and his heir, personal representative, assignee and his or their
servants, agents, licensees and invitees shall have free rights and
liberties to use such land and to use in common with all other persons
having similar rights and liberties, all roads serving such land or
other lands in the housing development and to make all necessary
connections and thereafter to use in a proper manner the drains, pipes,
cables and wire laid or constructed by the licensed housing developer
under or over such roads for the purpose of the supply of water,
electricity and telephone services to and for drainage of water from
the land sold to the purchaser. Such rights and liberties shall
continue to apply notwithstanding the completion of the contract of
sale;
(v) provisions
binding that a licensed housing developer shall not charge extra amount
to the purchase resultant on the increase cost of materials;
(w) provisions specifying that in the event of a
licensed housing developer fails to remedy any defect, shrinkage or
other fault in the housing accommodation created for the purchaser
within the six months period, the Controller reserved the right to
utilise the deposit money to make good the reported defect on the
housing accommodation.
(2) Notwithstanding
the provisions of paragraph (1) of this rule, where the Controller is
satisfied that owing to special circumstances the compliance with any
provisions of this rule is impracticable or unnecessary he may by a
certificate in writing waive or modify such provisions in respect of
any contract of sale.
(3) The
provisions of this rule shall not apply to an agreement for sale in
respect of subdivided buildings.
Previous
contract of
sale.
13. (1)
A
licensed housing developer may within a period of three months of the
date of the coming into force of these Rules apply to the Controller to
waive any of the requirements of rules 10, 11 and 12 in respect of any
contract of sale signed prior to the date of the coming into force of
these Rules but notice of the application shall be given to the
purchaser concerned to enable him to make representations to the
Controller relating to the application.
(2) The
Minister may by notification in the Gazette extend the period
referred to in the preceding paragraph (1) for such further period or
periods as he may deem fit provided that the period or periods so
extended shall not in the aggregate exceed one year from the date of
the coming into force of these Rules.
(3) In
determining the application made pursuant to this rule, the Controller
may exercise the power conferred upon him under rule 12 and he shall
have absolute discretion to approve such application with or without
condition or refuse to approve such application.
Power
to waive
requirements relating to advertisement.
14. The Controller may, in his
discretion, on the
application of a licensed housing developer who has been licensed
before the coming into operation of these Rules, and within a period of
three months after the coming into operation of these Rules, waive any
of the requirements of these Rules in respect of an existing
advertisement.
Appeal.
15. Notwithstanding anything to
the contrary in
these Rules, any person aggrieved by the decision of the Controller in
the exercise of his power under rules 3 (2), 4 (3), 8 (2), 12 (2), 13
(3) and 14 may within fourteen days after having been notified of the
decision of the Controller appeal against such decision to the
Minister, and the decision of the Minister made thereon shall be final
and shall not be questioned in any court.
Previously
licensed
housing developer to carry on business.
16. Notwithstanding the provisions
of these Rules,
any licensed housing developer which before the coming into force of
these Rules was carrying on the business of housing development may
continue to carry on such business for such period and on such
conditions as may be specified in the licence.
Penalties.
17. Any licensed housing developer
who contravenes
any of the provisions of these Rules shall be guilty of an offence, and
shall be liable on conviction to a fine not exceeding three thousand
ringgit, and for a second or subsequent offence to a fine not exceeding
five thousand ringgit or to imprisonment for a term not exceeding six
months or to both such fine and imprisonment.
SCHEDULE A HOUSING
(CONTROL AND LICENSING OF DEVELOPERS) RULES 1980 (Rule 3) APPLICATION
FOR A LICENCE |
|||||||||
*I/We, the
undersigned, hereby apply for a licence, pursuant to the provisions of
the Housing (Control and Licensing of Developers) Enactment 1978 and
the Housing (Control and Licensing of Developers) Rules 1980 and for
that purpose supply the following particulars: |
|||||||||
Name of
Housing Developer (In block
capitals) |
|||||||||
Business
address (In block
capitals) |
|||||||||
Telephone No. |
|||||||||
State
constitution of undertaking (e.g., “Company”’ “Firm”, “Society”,
Partnership”, etc.) |
|||||||||
Authorised
capital (if any) RM |
|||||||||
Issued
capital (if any) RM |
|||||||||
Paid up
capital (if any) RM |
|||||||||
Date of
commencement of business (To be supported by documentary evidence) |
|||||||||
Particulars
of all persons of standing in the undertaking. (See note 4 overleaf) |
|||||||||
Status |
Full Name (Underline
surname) |
Address |
N.R.I.C No. |
Occupation |
|||||
…………………………………………………………………………………………… …………………………………………………………………………………………… …………………………………………………………………………………………… …………………………………………………………………………………………… …………………………………………………………………………………………… |
|||||||||
Previous
Licence No. and date of issue (if any) |
|||||||||
The following
licence issued to me has since been revoked |
|||||||||
*I/We declare
that to the best of *my/our knowledge and belief, the particulars given
above are true. |
|||||||||
Date
……………………………… |
|||||||||
……………………..……….. Applicant’s signature or
Common Seal of Company |
|||||||||
PLEASE
READ CAREFULLY THE NOTES *Delete
whichever not applicable. |
|||||||||
NOTES |
|||||||||
1. When
completed, this form should be presented to: THE
CONTROLLER OF HOUSING, MINISTRY OF
LOCAL GOVERNMENT AND HOUSING, |
|||||||||
2. The
following documents should be attached in accordance with section 5 (3)
of the Enactment: |
|||||||||
Applicant |
|
Documents
to be submitted |
Document
to be verified by Statutory Declaration by |
||||||
Person |
1. |
A copy of the
latest audited balance sheet, if any, relating to all housing
developments undertaken by that person |
That person
himself |
||||||
Body of
persons |
1. 2. |
A copy of an
agreement between or amongst persons forming that body A copy of the
latest audited balance sheet, if any, relating to all housing
developments undertaken by that body of persons |
Any of the
persons forming that body |
||||||
Company |
1. 2. 3. |
A copy of
memorandum of association A copy
of articles of association A copy of the
latest audited balance sheet |
A director,
managing director, general manager, secretary or any senior officer of
the company |
||||||
Firm |
1. 2. |
A copy of the
partnership agreement A copy of the
latest audited balance sheet |
A partner |
||||||
Society |
1. 2. |
A copy of the
rules or by-laws of the society A copy of the
latest audited balance sheet |
President or
Secretary |
||||||
3. The
Statutory Declaration verifying the above documents must also contain
clauses to the effect that the provisions of section 6 (1) (c)
or 6 (1) (d) of the Housing (Control and Licensing of
Developers) Enactment 1978, as the case may be, have not been
contravened and that the provisions of section 15 of the said Enactment
will be complied with. |
|||||||||
4.
Particulars of all persons of standing in the undertaking should
include in the case of: |
|||||||||
|
(i) |
a company,
the name of the director/directors, manager or secretary; |
|||||||
|
(ii) |
a society,
the name of the president, secretary, treasurer or such other person in
a position analogous to that of president, secretary or treasurer; |
|||||||
|
(iii) |
a
partnership, the names of all the partners; and |
|||||||
|
(iv) |
a person or group of person,
the name of the
person or the names of all persons within the group. |
|||||||
SCHEDULE B HOUSING
(CONTROL AND LICENSING OF DEVELOPERS) RILES 1980 (Rule 4) APPLICATION
FOR AN ADVERTISEMENT PERMIT |
*I/We, the
undersigned, hereby apply for a permit pursuant to the provisions of
the Housing (Control and Licensing of Developers) Enactment 1978 and
the Housing (Control and Licensing of Developers) Rules 1980 and for
that purpose supply the following particulars: |
A.
PARTICULARS OF THE HOUSING DEVELOPER |
Name of
Housing Developer (In block
capitals) |
Business
address (In block
capitals) |
Telephone No. |
Housing
Developer’s Licence No. and date of issue |
B.
PARTICULARS OF THE HOUSING DEVELOPMENT INTENDED TO BE ADVERTISED |
Name or
designation of proposed housing development |
Location of
proposed housing development. State Lot No., Mukim,
District, name of road and acreage |
Tenure of the
land, e.g., 99-years lease, 999-years lease, etc. |
Encumbrances
and restrictions in interest, if any, to which the land is subject |
Quote
reference, with date, of the written approval of the Appropriate
Authority for the lay-out and the Director of Lands and Surveys for the
subdivision (if any) |
Expected date
of completion of the housing development |
No. of units
and types of housing accommodation to be constructed |
Attached 2
copies of the proposed advertisement or text of the proposed
advertisement if advertisement is through radio |
*I/We declare that to the best of
*my/our
knowledge and belief, the particulars given above are true. |
Date
………………………………. |
……………………..……….. Applicant’s signature or
Common Seal of Company |
SCHEDULE C HOUSING
(CONTROL AND LICENSING OF DEVELOPERS) RULES 1980 (Rule 12
(1) (e)) PAYMENT
OF INSTALMENTS |
|
1. The
purchase price shall be paid by the purchaser to the licensed housing
developer by instalments and at the times and manner following, that is
to say ― |
|
(a) |
immediately
upon the signing of the contract of sale a sum equivalent to 10 per
cent of the purchaser price such sum to include the booking fee if any
paid; |
(b) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the foundation work of the housing
accommodation has been completed a sum equivalent to 10 per cent of the
purchase price; |
(c) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the reinforced concrete framework of
the housing accommodation has been completed a sum equivalent to 15 per
cent of the purchase price; |
(d) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the brick walls of the housing
accommodation with door and window frames in position have been
completed a sum equivalent to 15 per cent of the purchase price; |
(e) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the roofing and internal plastering
of the housing accommodation have been completed a sum equivalent to 15
per cent of the purchase price; |
(f) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the electrical wiring and plumbing
(without fittings) to the housing accommodation have been completed a
sum equivalent to 10 per cent of the purchase price; |
(g) |
within
fourteen days after receipt by the purchaser of the licensed housing
developer’s notice in writing that the developer’s architect has
certified that the roads and drains serving the housing accommodation
have been completed a sum equivalent to 15 per cent of the purchase
price; |
(h) |
on delivery
to the purchaser of vacant possession of the housing accommodation and
the land as provided in rule 12 (1) (o) or on completion of the
transfer of the property as provided in rule 12 (1) (p)
whichever shall first happen the balance of 10 per cent of the purchase
price, 5 per cent of which shall forthwith be paid to the licensed
housing developer and the remaining 5 per cent shall be paid to the
licensed housing developer’s solicitors or to such other person as may
be approved by the Controller as stake holders to be paid to the
licensed housing developer only on production of the Certificate of
Fitness for Occupation of the Appropriate Authority in respect of the
housing accommodation. |
Every such
notice shall be supported by the requisite certificate of the licensed
housing developer’s architect and shall be accepted as good notice of
the fact that works therein referred to have been completed. |
|
2. If any of
the instalments referred to in paragraph (1) above shall remain unpaid
by the purchaser at the expiration of the said period of fourteen days
(and in this respect time shall be of the essence), interest on such
unpaid instalment or instalments shall commence to run immediately
thereafter and be payable by the purchaser such interest to be
calculated from day to day at the rate of ten per centum per annum. |
August 2008