Housing Development (Control and Licensing) Act 1966 (Act 118) & Regulations [As At 5th October 2022]

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Housing Development (Control and Licensing) Act 1966 (Act 118)

&
Regulations
[As At 5th October 2022]


An Act to provide for the control and licensing of the business of housing development in Peninsular Malaysia, the protection of the interest of purchasers and for matters connected therewith.

Detailed Contents Of Housing Development (Control and Licensing) Act 1966 (Act 118) :

The Housing Development (Control and Licensing) Act 1966 (Act 118) is a Malaysian law that regulates housing development activities in the country. The Act was enacted to ensure that housing development projects are carried out in a proper and systematic manner, with adequate safeguards to protect the interests of purchasers.

The Act provides for the control and licensing of housing developers and the regulation of their activities. It sets out the procedures and requirements that developers must comply with before they can undertake a housing development project. The Act also provides for the establishment of a Housing Controller and a Tribunal for Homebuyer Claims to oversee and enforce its provisions.

The Act is accompanied by several regulations that provide further details on its implementation. The regulations include the Housing Development (Control and Licensing) Regulations 1989, the Housing Development (Advertising) Regulations 1989, and the Housing Development (Housing Development Account) Regulations 1991.

The Housing Development (Control and Licensing) Regulations 1989 set out the requirements that developers must comply with when applying for a housing development licence. These requirements include the submission of a detailed project plan, financial statements, and proof of ownership of the land on which the development is to be carried out.

The regulations also require developers to provide adequate security for the funds collected from purchasers, to ensure that these funds are not misused. Developers must open a Housing Development Account with a licensed financial institution, and all funds collected from purchasers must be deposited into this account. The regulations also provide for the establishment of a Joint Management Body or Management Corporation to manage the common property in a strata development.

The Housing Development (Advertising) Regulations 1989 regulate the advertising of housing development projects. These regulations require developers to provide accurate and truthful information about their projects in all advertisements. Advertisements must include details such as the name and address of the developer, the expected completion date of the project, and the types of units available for sale.

The Housing Development (Housing Development Account) Regulations 1991 provide further details on the operation of the Housing Development Account. These regulations require developers to maintain separate accounts for each housing development project, and to keep detailed records of all transactions involving the account.

Overall, the Housing Development (Control and Licensing) Act 1966 and its accompanying regulations aim to ensure that housing development projects are carried out in a transparent and accountable manner, with the interests of purchasers and the general public being protected. These laws have helped to promote the growth of the housing sector in Malaysia, while also safeguarding the rights of homebuyers.


Housing Development Act Contains:

Housing Development (Control and Licensing) Act 1966 (Act 118)
Housing Development (Control and Licensing) Regulations 1989
Housing Development (Housing Development Account) Regulations 1991
Housing Development (Tribunal for Homebuyer Claims) Regulations 2002
Housing Development (Compounding of Offences) Regulations 2002 

Find more statutes like Housing Development Act : Statutes


ISBN: 9789678925112
 
 

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