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Individuals not eligible to take part in management of business of licensed housing developers

Housing Developers(Control and Licensing) Act 1965

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

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—(1) Without affecting any additional restriction or prohibition in any other written law relating to companies, cooperative societies, societies, limited liability partnerships or partnerships, any person who —(a)is convicted of an offence (whether in Singapore or elsewhere) involving fraud or dishonesty must not hold or continue to hold a responsible position in a licensed housing developer until the expiry of 5 years after the later of the following dates:(i)the date of his or her conviction;(ii)where he or she is sentenced to a term of imprisonment, the date of his or her release from imprisonment;(b)is an undischarged bankrupt (whether in Singapore or elsewhere) must not hold or continue to hold a responsible position in a licensed housing developer; and(c)holds a responsible position in a licensed housing developer must cease to hold that position if he or she suspends payment to or compounds with his or her creditors.(2) Any person holding a responsible position in a licensed housing developer that —(a)is wound up by a court under the Insolvency, Restructuring and Dissolution Act 2018 or the Limited Liability Partnerships Act 2005;(b)is dissolved under section 33, 34 or 35 of the Partnership Act 1890 or section 24 of the Societies Act 1966; or(c)is wound up under section 83 of the Co-operative Societies Act 1979,must not, except with the Minister’s written approval, hold or continue to hold a responsible position in any other licensed housing developer.(3) Any person who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both.

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