Clause 36

Every subsisting qualifying certificate issued by the Controller of Housing under section 31 of the principal Act in force immediately before the appointed day shall continue as if the certificate was the approval of the Controller of Residential Property granted under that section in force as from that date.

Where any security has been provided by a housing developer to the Controller of Housing under the terms and conditions of a qualifying certificate issued by the Controller of Housing under section 31 of the principal Act in force immediately before the appointed day, such security shall, as from that date, be deemed, without further assurance, to have been a security provided by the housing developer to the Controller of Residential Property under the terms and conditions of an approval granted by the Controller of Residential Property under that section in force as from that date, and may be enforced by the Controller of Residential Property, as if the Controller of Residential Property were named in the instrument of the security instead of the Controller of Housing.

Where any application for a qualifying certificate made to the Controller of Housing under section 31 of the principal Act in force immediately before the appointed day is pending on that day, such application shall be deemed to be an application for approval to purchase or acquire residential property made to the Controller of Residential Property under that section in force as from that date.

In subsections (1), (2) and (3), “appointed day” means the date of commencement of section 25 of this Act.

Nothing in this Act shall invalidate any certificate issued before the date of commencement of sections 9 and 12 of this Act by the Controller of Residential Property under sections 10, 10A and 16 of the principal Act.