Malaysia legislation
Section 17
Section 17
(1)
Subject to subsection (2), (3) and (4), the Controller shall refund to the licensed housing developer the deposit made under paragraph (b) of section 5(1) on completion of the housing development in respect of which such deposit was made.
(2)
The Minister may, upon a certificate by the Controller and on being satisfied thereon, without prejudice to any other or any further remedy or penalty that the licensed housing developer may incur or be liable for, determine that any deposit made under paragraph
(b)
of section 5(1) or any part thereof be applied for all or any of the following purposes -
(a)
the remuneration of any auditor or auditors appointed by the Minister under section 9(1); and
(b)
any expenses incurred by any person other than the licensed housing developer in complying with or arising from or consequential upon any direction given by the Minister under section 11(1).
(2A)
Notwithstanding subsection (2) or any other provision in this Enactment, the
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Minister may, upon a certificate by the Controller and on being satisfied thereon, without prejudice to any other or any further remedy or penalty that a licensed housing developer may incur or be liable for, determine that any deposit made under paragraph (b) of section 5(1)
or any part thereof be forfeited and be paid into the fund as specified by the Minister.
(3)
For the purposes of this section and preceding section, “completion of the housing development” shall mean the production of the Certificate of Fitness for Occupation in respect of and the delivery of vacant possession to the purchaser or purchasers of all units of housing accommodation comprised in the housing development and any grammatical variation thereof shall be construed as having reference to such meaning.
(4)
Notwithstanding subsections (1) and (3), the Controller may in his discretion retain and where necessary utilize such sum out of the deposit stipulated under paragraph (b) of section 5(1) which is deemed sufficient by the Controller to meet the obligations of the licensed housing developer under the terms of the sale and purchase agreement including but not limited to the procurement of the issue document of title to the purchasers’ respective land, lot or parcel.
Right of appeal to the Minister by an aggrieved licensed housing developer against the decision of the Controller.