Housing Development Act 1966 in Malaysia

2111 WordsApr 19, 20119 Pages
HOUSING DEVELOPMENT (CONTROL & LICENCING) ACT, 1966 This act is mainly to control, giving license for the business of housing development in Peninsular Malaysia, protection of the interest of purchasers and for matters connected herewith. This act was enacted on 1966 and has been revised for the first time on 16 August 1973. There are 7 parts in the act. 1. Part 1 : Preliminary 2. Part 2 : Licensing of Housing Developers 3. Part 3 : Duties of a Licensed Housing Developers 4. Part 4 : Investigation and Enforcement 5. Part 5 : Powers of Minister 6. Part 6 : Tribunal for Homebuyer Claims 7. Part 7 : Miscellaneous Part 1 : Preliminary This part tells that this act only applicable in West Malaysia. Besides that,…show more content…
The developer also have to ensure that the development has been carried out in accordance with the requirement under the law and inform the Controller of the progress in the issuance of separate or strata title until the titles have been duly issued. Under this Act, the licensed housing developer shall inform the Controller regarding any arrangement or agreement relating the company to get the Controller approval. Once they get the approval, they shall proceed with the arrangement or any agreement that they had proposed. This part 3 also tells about the statutory termination of sale and purchase agreement that had been entered between the purchaser and the developer. Any dealing on the housing development, the licensed housing developer shall enquire the Minister’s approval and he shall disapprove or reject if he believe that there is a problem occurs on the housing development. Within this part 3, role of the Auditor for the licensed housing developer is profound explained. The auditor has the power to access all the information from the licensed housing developer in order for him to make a proper report and will submit duly to the Controller. This audit report is based on the annual balance sheet and profit and loss accounts of the licensed housing developer and the report shall state whether: - The balance sheets and profit and loss accounts are properly prepared by the licensed housing developer and to give a true and fair
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