21. Licensed housing developer under control of company or statutory board to cooperate with company or statutory board and Controller

Where a company or statutory board has assumed control of the business of a licensed housing developer under section 18(2)(c), the licensed housing developer must submit its business to the control of the company or statutory board and must give the company or statutory board any facilities that the Controller may require to carry on the business of that licensed housing developer.

Any licensed housing developer that fails to comply with subsection (1) or with any requirement of the Controller under that subsection shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and to a further fine not exceeding $5,000 for every day during which the offence continues after conviction.