In forceAmended2000 Revised EditionCurrent version · 2000 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
15. Managing agent to lodge bond
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Last amended by an amending law.
A person shall not act as a managing agent for a development unless he has lodged with the Commissioner a bond in the form approved by the Commissioner and for the prescribed amount given by a bank, finance company or insurer and which binds the bank, finance company or insurer to make good any loss caused by the managing agent as a result of his failure duly to account to the purchasers of a development for moneys received or held by him.
development
Defined · s 2
“development” means any land on which any building is constructed or is in the course of construction;