Section 14
Arrangement or agreement of a licensed housing developer
of Housing Developers (Control And Licensing) Ordinance, 1993
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Where a licensed housing developer proposes to enter into an arrangement or agreement to sell, dispose of or reconstruct his business relating to housing development either by amalgamation or otherwise, the licensed housing developer shall as soon as possible notify the Controller of the proposed arrangement or agreement and unless approved by the Controller under subsection (2), the licensed housing developer shall not proceed with that arrangement or agreement.
(2)
Where the Controller receives the notification of the proposed arrangement or agreement under subsection (1), the
Controller may approve the arrangement or agreement or refuse to give approval thereto, and in approving the same he may impose thereon such conditions as he may deem fit and proper for the purpose of carrying into effect the provisions of this Ordinance.