Section 12A

the licensed housing developer has abandoned the housing development;

the purchaser has obtained the written consent from the end financier; and

the Minister has declared that it is an abandoned housing development.

For the purpose of paragraph (1)(b), no end financier shall unreasonably withhold its written consent to the termination of the sale and purchase agreement provided such consent by the end financier shall be granted without prejudice to their right of action against the purchasers.

In the event that the purchaser exercises his right to terminate the sale and purchase agreement under subsection (1), the licensed housing developer shall within thirty days of such termination refund or cause to be refunded to such purchaser all monies received by the licensed housing developer from the purchaser free of any interest.

Upon receipt of the refund under subsection (3), the purchaser shall immediately cause all encumbrances on the land to be removed and the cost and expenses for such removal shall be borne by the licensed housing developer and may be claimed as a civil debt from the licensed housing developer.

Any person who fails to comply with this section shall be guilty of an offence and shall, on conviction, be liable to a fine not less than fifty thousand ringgit and not exceeding two hundred and fifty thousand ringgit and to a further fine not exceeding five thousand ringgit for every day or part of a day during which the offence continues after conviction.

This section applies only to an agreement lawfully entered into between a purchaser and a licensed housing developer after the date of coming into operation of the

Housing Development (Control and Licensing) (Amendment) Enactment 2023.

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