17. Deposit paid under existing rules
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Where a developer has paid a deposit to the Commissioner under rule 6 of the Buildings and Common Property (Maintenance and Management) Rules (R 1) at any time prior to 1st December 1982, the deposit shall be deemed to have been paid under section 16 save that subsection (6) of that section shall not apply to the deposit.
developer
“developer” means any person who has obtained the approval of the competent authority to develop any land pursuant to section 14 of the Planning Act and includes his executors, administrators and successors in title or assigns;
The deposit referred to in subsection (1) shall —
in the case of a development to which the Land Titles (Strata) Act (Cap. 158) applies, be transferred to the management fund of the management corporation constituted under section 33 of the Land Titles (Strata) Act, in respect of that development within one year of the date of the first general meeting of the management corporation; and
in the case of any development to which the Land Titles (Strata) Act does not apply, be refunded to the developer on the expiry of 3 years from the date of the last certificate of statutory completion issued by the Commissioner of Building Control for any flat in the development.