5D. Persons disqualified from being substantial shareholder of developer

who has been convicted (whether before, on or after the date of commencement of section 17(i) of the Anti‑Money Laundering and Other Matters (Estate Agents and Developers) Act 2025) of any money laundering, proliferation financing or terrorism financing offence; or (b)if a company, partnership, society or limited liability partnership, which has an individual mentioned in paragraph (a) holding a responsible position in that company, partnership, society or limited liability partnership, as the case may be,must not be or become a substantial shareholder of a developer, whether by increasing the person’s shareholding in the developer or otherwise.