Regulation 3

Where the owner or applicant of a flat has breached any restriction, condition or requirement in section 47(1) of the Act, the Board may, instead of proceeding against that owner or applicant under section 47 of the Act, impose on the owner or applicant a financial penalty not exceeding $50,000 for that breach.

Where the owner of a flat has breached any restriction, condition or requirement under section 55(1) of the Act, the Board may, instead of proceeding against that owner under section 55 of the Act, impose on the owner a financial penalty not exceeding $50,000 for that breach.

Where the owner of a flat has breached section 56(1)(a), (b), (c), (d), (e), (f), (g), (ga), (h) or (i) of the Act, the Board may, instead of acquiring the flat under section 56, impose on the owner a financial penalty not exceeding $50,000 for that breach.