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mylaw.myby aturio
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3. Amendment of section 6

Section 6 of the principal Act is amended—

(a)

in paragraphs (1)(a) and (b), by substituting for the words

“not less than two hundred thousand ringgit” the words

“a sum equivalent to three per cent of the estimated cost of construction as certified by an architect in charge of the housing development”; and

(b)

by inserting after subsection (1a) the following subsection:

“(1b) For the purpose of paragraphs (1)(a) and

(b)

, “estimated cost of construction” means the cost of constructing a housing development and includes financial costs, overhead costs and all other expenses necessary for the completion of the housing development but excludes land cost.”.

Report

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