Clause 5

by deleting subsections (1), (2) and (3) thereof and substituting therefor the following: —“(1) No person shall be entitled to purchase any flat, house or other living accommodation sold subject to the provisions of this Part if such person, his spouse or any authorised occupier —

is the owner of any other flat, house, building or land or has an estate or interest therein; or

has, at any time within thirty months immediately prior to the date of making an application to the Board to purchase the same, sold any flat, house, building or land of which he was the owner, or divested himself of any interest therein.(2) Where a person purchases a flat, house or other living accommodation in contravention of the provisions of subsection (1) of this section, he shall not present for registration under the provisions of the Registration of Deeds Act (Cap. 281) or the Land Titles Act (Cap. 276) the assurance of the flat, house or other living accommodation. The Board shall on discovery of such a purchase —

serve a written notice upon the purchaser of the flat, house or other living accommodation of its intention to lodge with the Registrar of Deeds or the Registrar of Titles, as the case may be, an instrument under the provisions of subsection (3) of this section for the vesting in the Board of the title to or the estate or interest in that flat, house or other living accommodation; or

where no lease has been registered in favour of the purchaser, serve a written notice of the Board’s intention to terminate the agreement for a lease and to re-enter upon the flat, house or other living accommodation or part thereof in the name of the whole and thereupon any interest of the purchaser shall absolutely determine.The purchaser may within fourteen days after the service of the notice appeal to the Minister whose decision thereon shall be final and shall not be called into question in any court.(3) Where an appeal has been made to the Minister pursuant to subsection (2) of this section, the Board shall not proceed to vest the title to or the estate or interest in the flat, house or other living accommodation in itself, or to re-possess the flat, house or other living accommodation, until the appeal has been disposed of.”; and

by deleting subsection (6) thereof and substituting therefor the following: —“(6) The Board may in its discretion forfeit any monies paid or deposited in respect of the purchase of any flat, house or other living accommodation from the Board if the Board discovers that the person who has purchased or seeks to purchase the flat, house or other living accommodation in contravention of the provisions of subsection (1) of this section.(7) The Board may in its discretion exempt any person or class of persons from the provisions of this section.”.