Housing Development (Control and Licensing) Act 1966 · Updated to 2 Mar 2016 · Part VII · Miscellaneous
22E. Release of moneys by a stakeholder
Feedback & supportAny stakeholder who releases any money to a housing developer or to any other person knowing that such an act is contrary to the provisions of the sale and purchase agreement shall be guilty of an offence and shall, on conviction, be liable to a fine which shall not be less than ten thousand ringgit but which shall not exceed one hundred thousand ringgit or to imprisonment for a term not exceeding five years or to both.
stakeholder
“stakeholder” means any solicitor holding moneys as stakeholder for payment to a housing developer pursuant to sale and purchase agreements in respect of a housing development which the housing developer is engaged in, carries on or undertakes or causes to be undertaken;
Any person who knowingly and wilfully aids, abets, counsels, procures or commands the commission of an offence against subsection (1)
shall be liable to be punished with the punishment provided for the offence.