Section 22D — HOUSING DEVELOPMENT (CONTROL AND LICENSING) ACT 1966

(2)

Subject to subsection (8), every notice of assignment given to the housing developer pursuant to subsection (1) shall be delivered by the assignor or his solicitors to the housing developer at or after the completion of the sale and purchase between the assignor and the new purchaser of the housing accommodation and shall be accompanied by—

(a)

duly stamped sale and purchase agreement between the assignor and the new purchaser of the housing accommodation, if any;

(b)

duly executed deed of absolute assignment between the assignor and the new purchaser of the housing accommodation together, if applicable, with a letter of undertaking from the new purchaser or the new purchaser’s financier, as the case may be, to deliver the duly stamped deed of absolute assignment within fourteen days after the same has been stamped; and

(c)

full payment of all sums and outgoings due to the housing developer under the sale and purchase agreement.

(3)

A housing developer shall keep and maintain an up-to-date, proper and accurate register of all purchasers of the housing accommodation until separate or strata titles for all the housing accommodation in the housing development have been issued by the appropriate authority and registered in the names of all the purchasers of the housing accommodation in that housing development.

(4)

The housing developer shall provide all necessary and accurate confirmation of the records in the register whenever requested by a purchaser of the housing accommodation or his solicitors or his financier or his financier’s solicitors subject to a payment of a fee not exceeding fifty ringgit or such amount as may be prescribed from time to time for meeting every request for confirmation in respect of all of the following:

(a)

full particulars of the housing accommodation;

(b)

the postal address of the housing accommodation;

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(c)

the current purchaser of the housing accommodation;

(d)

the current chargee or assignee of the housing accommodation;

(e)

the total amount due to the developer under the sale and purchase agreement as at the date of the confirmation; and

(f)

such other matter as may be prescribed from time to time.

(5)

Any person who requires any consent from a housing developer to any absolute assignment or assignment by way of charge in contravention of subsection (2) shall be guilty of an offence and shall, on conviction, be liable to a fine which shall not be less than fifty thousand ringgit but which shall not exceed one hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.

(6)

Any housing developer who—

(a)

requires any consent to any absolute assignment in contravention of subsection (1);

(b)

imposes any condition to any absolute assignment or assignment by way of charge including requiring the new purchaser to execute any additional agreement or make any other payment in contravention of this section;

(c)

fails to comply with subsection (3); or

(d)

fails or refuses to provide any confirmation in contravention of subsection (4) or imposes any condition or any other fee in respect of any matter arising from subsection (4), shall be guilty of an offence and shall, on conviction, be liable to a fine which shall not be less than fifty thousand ringgit but which shall not exceed one hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.

(7)

For the purpose of this section, references to “new purchaser”

wherever appearing shall include a purchaser’s financier or any beneficiary under the estate of a deceased purchaser or an assignee under an absolute assignment whether with or without consideration.

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(8)

The expression “completion of the sale and purchase” in subsection (2)

in relation to a deed of absolute assignment executed in favour of a purchaser’s financier or any beneficiary under the estate of a deceased purchaser or an assignee under an absolute assignment whether with or without consideration not in pursuance of a sale and purchase agreement shall mean the date of that deed of absolute assignment in which case paragraph (2)(a) shall not apply.

(9)

This section shall apply to any housing accommodation where separate or strata title for the housing accommodation has not been issued by the appropriate authority.

Release of moneys by a stakeholder