Section 5

is a company, unless the housing developer —

has an issued and paid-up capital of an amount that the Minister may prescribe; or

has lodged with the Controller, in the form and manner and on any terms that the Controller may determine, a deposit or security of a sum that the Minister may prescribe;

is an individual, a group of persons, a partnership, a society or a limited liability partnership, unless the housing developer has lodged with the Controller, in the form and manner and on any terms that the Controller may determine, a deposit or security of a sum that the Minister may prescribe;

has a person holding a responsible position therein who, at any time within a period of 5 years immediately before the date of the application by the housing developer under section 4(2) for a licence —

has been convicted (whether in Singapore or elsewhere) of an offence involving fraud or dishonesty; or

has served any sentence of imprisonment (whether in Singapore or elsewhere) in respect of an offence involving fraud or dishonesty; or

is an undischarged bankrupt (whether in Singapore or elsewhere) or has an undischarged bankrupt (whether in Singapore or elsewhere) holding a responsible position therein.

different amounts of issued and paid-up capital; or

different sums of deposit or security.