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Section 61

Release of moneys by a stakeholder

of Housing Developers (Control And Licensing) Ordinance, 1993

State OrdinanceRepealedProvision 58 of 64
Section 61

Any stakeholder who releases any money to a housing developer or to any other person knowing that such act is contrary to the provisions of the sale and purchase agreement commits an offence and shall, on conviction, be liable to a fine of not less than ten thousand ringgit but not exceeding one hundred thousand ringgit or to imprisonment for a term of not exceeding five years or to both.