Skip to content

Section 10

of Housing Developers (Control And Licensing) Ordinance, 1993

State OrdinanceRepealedProvision 10 of 64

Section 10

—

(1)

In addition to the duties specified in section 14, a licensed housing developer shall—

(a)

within four weeks of the making of any alteration in or to any of the documents submitted to the Controller under section 6(4) furnish to the Controller written particulars of the alteration;

(b)

exhibit at all times in a conspicuous position in any office and branch office of the licensed housing developer a copy of his last audited balance sheet as soon as the same is available and such information as the present or former full name, usual residential address, nationality, nationality of origin (where the present nationality is not that of origin), business or occupation

(if any) of each person who has the control and management of the business of the licensed housing developer and particulars of any other directorship held by that person;

13

(c)

keep or cause to be kept in his office such accounting and other records as will sufficiently explain the transactions and the financial position of the licensed housing developer and to enable true and fair profit and loss accounts and balance sheets and any documents required to be attached thereto to be prepared from time to time, and shall cause these records to be kept in such manner as to enable them to be conveniently and properly audited;

(d)

not later than 21st day of January and the 21st day of

July of each year, send to the Controller a statement in the prescribed form; and

(e)

where he considers that he is likely to become unable to meet his obligations to the purchasers, forthwith notify the

Controller of such fact in writing.

(2)

Where submission could not be made by the licensed housing developer within the period specified in subsection (1), the

Controller may, on application made by the licensed housing developer prior to the expiry period, extend such period which in any case shall not exceed six months.