Section 25

is convicted of an offence (whether in Singapore or elsewhere) involving fraud or dishonesty must not hold or continue to hold a responsible position in a licensed housing developer until the expiry of 5 years after the later of the following dates:

the date of his or her conviction;

where he or she is sentenced to a term of imprisonment, the date of his or her release from imprisonment;

is an undischarged bankrupt (whether in Singapore or elsewhere) must not hold or continue to hold a responsible position in a licensed housing developer; and

holds a responsible position in a licensed housing developer must cease to hold that position if he or she suspends payment to or compounds with his or her creditors.

is wound up by a court under the Insolvency, Restructuring and Dissolution Act 2018 or the Limited Liability Partnerships Act 2005;

is dissolved under section 33, 34 or 35 of the Partnership Act 1890 or section 24 of the Societies Act 1966; or

is wound up under section 83 of the Co-operative Societies Act 1979,must not, except with the Minister’s written approval, hold or continue to hold a responsible position in any other licensed housing developer.