Singapore legislation
Clause 21
Clause 21
Housing developers
(1)
Section 16 of this Act shall not apply to housing developers.
(2)
A housing developer shall, before he purchases or acquires an estate or interest in any residential property, apply to the Controller of Housing for a certificate (hereinafter in this section referred to as a “qualifying certificate”) that he is qualified to purchase or acquire that residential property.
(3)
After receipt of an application under subsection (2) of this section, notwithstanding the provisions of the Housing Developers (Control and Licensing) Act (Cap. 250), the Controller of Housing may, with the approval of the Minister for National Development, issue a qualifying certificate and may impose such terms and conditions upon the housing developer, including the following, as he may think fit: —
that the housing developer shall provide such security, as may be determined by the Controller of Housing, for the purpose of developing that residential property;
that such security may be forfeited if the housing developer does not proceed with or complete the development within such period as may be fixed by the Controller of Housing or does not sell the developed property to citizens or approved purchasers within such period subsequent to the completion of the development as may be fixed by the Controller of Housing; and
that the applicant shall undertake, in writing, to comply with the conditions imposed by any competent authority appointed under the Planning Act (Cap. 279) to carry out the development of that residential property after such applicant has become the registered owner of that residential property under a transfer registered with the Registrar.
(4)
The Controller of Housing may extend the periods fixed under paragraph (b) of subsection (3) of this section and may, in his discretion, dispense with the provision as to security referred to in that subsection.
(5)
Upon the Controller of Housing issuing a qualifying certificate to the housing developer, the Controller of Housing shall forward a copy thereof to the Registrar.
(6)
The Registrar, before registering any instrument of transfer in respect of any residential property made in favour of a foreign person who is a housing developer, may require a Statutory Declaration together with an undertaking from such foreign person to be endorsed on the instrument of transfer in such form as he may require; and the Registrar has the power to refuse to accept or to register such instrument of transfer unless such Statutory Declaration and undertaking made by such foreign person has been endorsed on the instrument of transfer itself.
(7)
For the purposes of this section, “housing developer” means —
any person who is, or is required to be, licensed as a housing developer under the Housing Developers (Control and Licensing) Act (Cap. 250); or
any person who is not required to be so licensed but who constructs or intends to construct dwelling-houses for the purpose of sale only to citizens of Singapore or approved purchasers.