Malaysia legislation
Section 5
Section 5
(1)
No housing development shall be engaged in, carried on or undertaken or caused to be undertaken except by a housing developer who ―
(a)
is in possession of a licence issued under this Enactment; and
(b)
has made a deposit with the Controller of a sum equivalent to five per cent of the estimated cost of the development in cash or in such other form as the Minister may determine:
(2)
Except with the written consent of the Controller, no housing developer other than a licensed housing developer shall assume or use in relation to his business or any part of his business the words “housing developer” or any of its derivatives or any other word or words indicating the carrying on of the business of housing development.
(3)
A housing developer who desires to engage in, carry on or undertake or caused to be undertaken a housing development may apply to the Controller for a licence and any such application shall be made in the prescribed form and in the case of any applicant listed in column (1) of the Schedule, the application shall be accompanied by the documents listed against him in column (2), every such document being verified by means of a statutory declaration made by the person listed in column (3) of the Schedule.
(4)
Upon receiving an application for a licence under this section, the Controller may grant or refuse to grant the licence, and in granting such licence, the Controller may impose such conditions as he may deem fit.
(5)
Subject to section 14, the Controller may at any time vary, cancel, or alter the conditions imposed under subsection (4) or impose any new or additional conditions; or,
8
where the licence is not subject to any conditions, impose thereon such conditions as the
Controller may deem fit for carrying out the provisions of this Enactment.
(6)
There shall be a fee payable to be determined by the Minister upon the application of a licence or permit.
(7)
Where a housing development is to be undertaken in phases within a housing development area, a licence may be issued to the housing developer for each phase of such housing development.
Transfer or assignment of a licence