Section 13
Freezing of the Housing Development Account
of Housing Developers (Control And Licensing) Ordinance, 1993
—
If the Controller has reason to believe that a licensed housing developer is carrying on his business in a manner detrimental to the interests of the purchasers or is contravening any of the provisions of this Ordinance, the Controller may in writing order a freeze on the Housing Development Account and direct the bank or finance company, as the case may be, not to part with, deal in or otherwise permit any withdrawal of any moneys from the Housing
Development Account until the order is revoked or varied or unless in accordance with any conditions as may be imposed by the Controller from time to time during the currency of the order.
(2)
No bank or finance company, or director, officer or employee of the bank or finance company, as the case may be, shall be subject to any claim or demand by or liability to any person in respect of anything done or omitted to be done in good faith in pursuance of or execution or intended execution of or in connection with the execution or intended execution of an order of the Controller under subsection (1).
(3)
Any person who fails to comply with an order of the
Controller under subsection (1) commits an offence and shall, on conviction, be liable to a fine of not exceeding one hundred thousand ringgit.
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