Section 15
of Housing Development Control And Licensing Enactment 1978
Section 15
(1)
Without prejudice to anything contained in any written law relating to companies, co-operative societies, societies and partnerships, any person who acts or holds office of a director, manager or secretary of a licensed housing developer or a similar office or position shall cease to hold that office or position —
(a)
if he becomes bankrupt or suspends payment or compounds with his creditors; or
(b)
if he is convicted of an offence involving dishonesty or fraud.
(2)
No person who has been a director of, or been directly concerned in the management of, the business of a licensed housing developer which has been wound up by a court shall, without the approval in writing of the Minister act or continue to act as a director of, or be directly concerned in, the management of the business of any licensed housing developer.
26
Refund or forfeiture of deposit under section 6.