Singapore legislation

Clause 5

of Housing Developers (Control and Licensing) Ordinance

Clause 5

Licences not to be granted or valid in certain cases

No application by a housing developer for a licence shall be granted under the provisions of subsection (4) of section 4 of this Ordinance, in the case of a housing developer which —

(a)

is a company, if its capital issued and paid up in cash is less than five hundred thousand dollars; or

(b)

consists of any person or group of persons or society, without a deposit of one hundred thousand dollars in such form as may be determined by the Minister; or

(c)

has an undischarged bankrupt in the case of a —

(i)

company, as director, manager or secretary or such other person in a position analogous to that of a director, manager or secretary; or

(ii)

society, as president, secretary or treasurer or such other person in a position analogous to that of president, secretary or treasurer; or

(iii)

partnership, as partner; or

(d)

consists of a person or group of persons, if such person or any person in such group of persons is an undischarged bankrupt:Provided that the Minister may in his absolute discretion waive any or all of the conditions set out in paragraph (a), (b) or (c) of this section or substitute any or all of the said conditions with such other conditions that he may consider fit.

Read in full context — Housing Developers (Control and Licensing) Ordinance →