|
HOUSING DEVELOPERS (HOUSING
DEVELOPMENT ACCOUNT) (AMENDMENT) REGULATIONS 2002
PU(A) 474/2002
In force from: 1 December 2002
Jil. 46 No. 24 1hb Disember 2002 TAMBAHAN No. 123 PERUNDANGAN (A)
IN exercise of the powers conferred by section 24 of the Housing
Development (Control and Licensing) Act 1966 [Act 118], the Minister
makes the following regulations:
1. Citation and commencement.
(1) These regulations may be cited as the
Housing Developers (Housing
Development Account) (Amendment) Regulations 2002.
(2) These Regulations come into operation on 1 December 2002.
2. General amendments.
The Housing Developers (Housing Development Account) Regulations 1991
[P.U. (A) 231/91], which are referred to as "the principal Regulations"
in these Regulations are amended—
(a) by substituting for the words "Housing Developers (Control
and Licensing) Act 1966" wherever they appear the words "Housing
Development (Control and Licensing) Act 1966"; and
(b) by substituting for the words "Housing Developers (Housing
Development Account) Regulations 1991" wherever they appear the words
"Housing Development (Housing Development Account) Regulations 1991".
3. Reference to the principal Regulations.
Where, on and after the commencement date, a reference is made in any
written law to the "Housing Developers (Housing Development Account)
Regulations 1991", such reference shall be construed as a reference to the
"Housing Development (Housing Development Account) Regulations 1991".
4. New regulation 1A.
The principal Regulations are amended by inserting after regulation 1 the
following regulation:
" 1A. Exemption.
These Regulations shall not apply if at the time of execution of the
contract of sale, the certificate of fitness for occupation for the
housing development has been issued and a certified true copy of which has
been forwarded to the purchaser.".
5. Amendment of regulation 3.
The principal Regulations are amended by substituting for regulation 3
the following regulation:
"3. Duties of a developer relating to the Account.
(1) A licensed housing developer shall within fourteen (14) days after
the issuance of a housing developer's licence, submit to the Controller a
certificate from the bank or finance company with whom the Housing
Development Account is opened, certifying that such an account has in fact
been opened.
(2) The developer shall, within fourteen (14) days after being notified
by a purchaser of the name and address of his financier who is financing
the purchase, inform the purchaser's financier of the name and address of
the bank in which the Housing Development Account is opened and its
account number.".
6. New regulation 3A.
The principal Regulations are amended by inserting after regulation 3 the
following regulation:
" 3A. Deposit made by the developer.
For the purpose of paragraphs 6(1)(a) and (b) of the Act,
a deposit of RM200,000 shall be made by the developer by way of—
(a) cash;
(b) bank guarantee; or
(c) having a balance of RM200,000 at any one time in the
Housing Development Account.".
7. Amendment of regulation 4.
Regulation 4 of the principal Regulations is amended—
(a) by renumbering the regulation to subregulation (1); and
(b) by inserting after subregulation (1), the following
subregulation:
"(2) A licensed housing developer shall, within two (2) banking days
after the payment is made in cash, issue a statement to the purchaser
that such payment has been credited to the Housing Development
Account.".
8. New regulation 4A.
The principal Regulations are amended by inserting after regulation 4 the
following regulation:
" 4A. Purchaser's financier to pay direct into the Account.
(1) A purchaser's financier shall, within twenty-one (21) working days
after receiving invoice sent by the licensed housing developer in respect
of the progressive payments relating to the purchase of a housing
accommodation by the purchaser, deposit directly any payment made into the
Housing Development Account with a statement to the licensed housing
developer and the purchaser that such payment has been made.
(2) Any payment to the licensed housing developer's solicitor as the
stakeholder, shall be paid directly to the solicitor with a statement to
the licensed housing developer and the purchaser that such payment has
been made.".
9. Amendment of regulation 7.
The principal Regulations are amended in regulation 7—
(a) by deleting subparagraph (c)(i);
(b) in paragraph (e), by inserting after the words
"relating to the housing development" the words "in proportion to the
housing accommodations that have been approved under the licensed housing
developer's licence";
(c) by deleting the word "and" at the end of subparagraph (e)(viii);
(d) by inserting after subparagraph (e)(viii) the
following subparagraph:
"(viiia) works related to infrastructure preparation instructed by
the appropriate authorities; and";
(e) in paragraph (m), by inserting after the words
"charge of the housing development" the words "in respect of the relevant
progressive payment";
(f) in paragraph (n) by substituting for the words
"Department; and" the word "Board;" and
(g) by inserting after paragraph (n) the following
paragraphs:
" (na) any cost and expenses incurred by persons specified by
the Minister in carrying out the Minister's direction or decision under
subsection 11(1A) of the Act;
(nb) the payment of any liquidated damages pursuant to the
housing development;
(nc) the payment of any defect, shrinkage or other fault
pertaining to the project during the defect liability period; and".
10. Amendment of regulation 8.
Regulation 8 of the principal Regulations are amended—
(a) in subregulation (1), by substituting for the words "or
engineer in charge of the housing development stating that payment is due
to be made for that purpose or" the words ", engineer or quantity
surveyor, as the case may be, in charge of the housing development stating
that payment is due to be made for that purpose and"; and
(b) by inserting after subregulation (2) the following
subregulation:
"(3) Every claim made by the licensed housing developer under this
regulation from the Housing Development Account, a copy of the notice of
claim shall be submitted concurrently to the Controller.".
11. Amendment of regulation 9.
The principal Regulations are amended in regulation 9—
(a) by substituting for the words "submission of the application
for a Certificate of Fitness for Occupation by the licensed housing
developer and upon the handing over of vacant possession to which water
and electricity supply are ready for connection to all the housing
accommodation that have been sold in the housing development, the licensed
housing developer may" the words "issuance of a certificate of fitness for
the housing development, the housing developer may, with the approval of
the Controller,";
(b) in paragraph (a),—
(i) by substituting for the words "or engineer" the words ", engineer
or quantity surveyor, as the case may be,"; and
(ii) by deleting the word "and" at the end of that paragraph;
(c) in paragraph (b), by substituting for the full stop
at the end of that paragraph the words "; and"; and
(d) by inserting after paragraph (b) the following
paragraph:
"(c) all claims on liquidated damages that have been settled.".
12. Deletion of regulation 10.
Regulation 10 of the principal Regulations is deleted.
13. Amendment of regulation 11.
The principal Regulations are amended in regulation 11, by inserting
after the words "A licensed housing developer may" the words ", with the
approval of the Controller,".
14. New regulation 11A.
The principal Regulations are amended by inserting after regulation 11
the following regulation:
" 11A. Controller may use money in the Housing Development Account.
When the Controller is satisfied that the development of a housing
development is detrimental to the interest of the purchasers, the
Controller may use the monies in the Housing Development Account of the
development to ensure the completion of the development.".
15. New regulations 12A, 12B and 12C.
The principal Regulations are amended by inserting after regulation 12
the following regulations:
" 12A. Auditor to make annual report.
Every auditor of a licensed housing developer shall, within six months
after the close of the financial year of such developer, make an annual
report to the Controller as to the Housing Development Account and shall
state in every such report whether or not in his opinion—
(a) each and every deposit and withdrawal recorded in the
account are in accordance with these Regulations;
(b) the accounting and the records examined by him are
properly kept; and
(c) if the auditor has called for an explanation or
information from the officers or agents of the developer, such
explanation or information has been satisfactory.
12B. Auditor to lodge a report to the Controller.
An auditor of a licensed housing developer shall immediately, if he
found any fraudulent act or misappropriation of money in the Housing
Development Account, lodge a report to the Controller together with a full
statement and relevant documents relating to the act and the auditor is
bound to supply any information or document if requested by the
Controller.
12C. Penalty.
Any person who contravenes any provision under these Regulations shall
be guilty of an offence and shall, on conviction, be liable to a fine not
exceeding five thousand ringgit or to imprisonment for a term not
exceeding three years or to both.".
16. Savings.
(1) Notwithstanding the provisions of these Regulations, any licensed
housing developer who before the coming into force of these Regulations was
holding a Housing Development Account, may continue to hold such Account for
such period and subject to such conditions as may be specified in its
housing developers licence.
(2) Nothing in these Regulations shall affect the use of the Housing
Development Account under the housing licence issued prior to the coming
into force of these Regulations until all the housing accommodations in the
housing development have been completed.
Made 18 November 2002
DATO' SERI ONG KA TING
Minister of Housing and Local Government |
