Section 12

Every auditor of a licensed housing developer shall, in his report to the Controller under section 9 (2) of the Enactment as to the annual balance sheet and profit and loss accounts of the licensed housing developer for whom the auditor is appointed, state whether or not, in his opinion, the monies in the project Account have been withdrawn in accordance with these Rules.

Dated this 29th day of June, 1995.

DATUK YONG TECK LEE,

Minister of Local Government & Housing.