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Action by Minister if licensed housing developer unable to meet obligations or is conducting business to the detriment of purchasers or the public

Housing Developers(Control and Licensing) Act 1965

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—(1) Where —(a)a licensed housing developer informs the Controller —(i)that it considers that it is likely to become unable to meet its obligations; or(ii)that it is about to suspend building operations;(b)a licensed housing developer becomes unable to meet its obligations to the purchasers or the public;(c)after investigation is made under section 14, 15 or 16, the Controller is of the opinion that a licensed housing developer —(i)is likely to become unable to meet its obligations to the purchasers or the public; or(ii)is carrying on its business in a manner detrimental to the interests of the purchasers or to the public; or(d)the licence of a housing developer has been revoked under section 7(1),the Minister may take any action that he or she may consider necessary in the circumstances.(2) Without limiting subsection (1), the Minister may for the purposes of taking action under subsection (1) —(a)require the licensed housing developer or housing developer (as the case may be) to take any steps that he or she may consider necessary to rectify any matter;(b)appoint a person to advise the licensed housing developer or housing developer (as the case may be) in the conduct of its business or winding up of its business;(c)direct a company or statutory board to assume control and carry on the business of the licensed housing developer or housing developer (as the case may be) on any terms and conditions that the Minister may determine; or(d)direct the licensed housing developer to apply to the General Division of the High Court for the winding up of the business of the licensed housing developer or housing developer, as the case may be.

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