Malaysia legislation
Section 11
Section 11
(1)
Where on his own volition a licensed housing developer informs the Controller or where as a result of an investigation made under section 10 or for any other reason the
Controller is of the opinion that the licensed housing developer becomes unable to meet his obligation to his purchasers or is about to suspend his building operations or is carrying on his business in a manner detrimental to the interests of his purchasers, the Minister may without prejudice to the generality of the powers of the Minister to give directions under section 12 for the purpose of safeguarding the interests of the purchasers of the licensed housing developer
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(a)
direct the licensed housing developer in question to take such steps as he may consider necessary to rectify any matter or circumstances;
(b)
direct that a person be appointed or himself appoint a person to advise the licensed housing developer in the conduct of his business;
(c)
direct a company to assume control and carry on the business of the housing developer upon such terms and conditions as the Minister may determine;
(ca)
declare that the housing development has been abandoned;
(d)
direct that the licensed housing developer present a petition to the High
Court for the winding up of his business; or
(e)
take such action as the Minister may consider necessary in the circumstances of the case for carrying into effect the provisions of this
Enactment.
(1A)
In giving his direction or decision under paragraph (1)(a), (b), (c) or (e), the Minister may specify that any cost and expense reasonably incurred by such person in carrying out such direction or decision of the Minister be paid from the Housing Development
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Account or from the moneys due to the account.
(2)
Every such direction of the Minister made under subsection (1) shall be binding on the licensed housing developer and the purchasers.
(3)
Where a company has, in pursuance of a direction of the Minister under subsection (1)(c), assumed control of and carried on the business of a licensed housing developer, the following provisions shall apply —
(a)
the licensed housing developer in question shall submit his business to the control of the company and shall provide the company with such facilities as the Controller may consider necessary for the purpose of carrying on the business of the licensed housing developer;
(b)
the company shall take over and become in control of and continue to carry on the business of the licensed housing developer until such time as the
Minister may in writing otherwise direct; and
(c)
every such assumption and cessation of control of the business of a licensed housing developer pursuant to a direction of the Minister made under subsection (1)(c) shall be published by the Controller in the Gazette.
Powers of the Minister to give general directions.