s 12A Prohibition against anonymous accounts
12A.—(1) A licensed housing developer must not, in connection with any housing development carried out or undertaken by the licensed housing developer, open or maintain any account (whether or not in a Project Account) for, or hold and receive moneys from —(a)
an anonymous source; or
(b)
a purchaser with an obviously fictitious name.
(2) A licensed housing developer that contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.[Act 54 of 2018 wef 28/06/2023]
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