s 5E Persons disqualified from being in responsible position
5E.—(1) Subject to subsection (2), each of the following persons must not hold or continue to hold a responsible position in a developer:(a) a person who has been convicted (whether before, on or after the date of commencement of section 17(i) of the Anti‑Money Laundering and Other Matters (Estate Agents and Developers) Act 2025) of any money laundering, proliferation financing or terrorism financing offence;[Act 15 of 2025 wef 01/07/2025] (b) a person who is convicted of an offence (whether in Singapore or elsewhere and whether before, on or after the date of commencement of section 10 of the Developers (Anti‑Money Laundering and Terrorism Financing) Act 2018) involving fraud or dishonesty; (c) a person who is an undischarged bankrupt (whether in Singapore or elsewhere) or who suspends payment to or compounds with the person’s creditors. (2) The disqualification in subsection (1)(b) ceases for a person at the end of 5 years beginning from —(a) the date of the person’s conviction; or (b) if the person is imprisoned, the date on which the person convicted is released from custody, whichever date is later. (3) In this section, “responsible position”, for a developer, means —(a) in the case of a developer that is a company — a director, manager or secretary or a person in a position analogous to that of a director, manager or secretary; (b) in the case of a developer that is a society — a president, secretary or treasurer or a person in a position analogous to that of a president, secretary or treasurer; (c) in the case of a developer that is a partnership — a partner; (d) in the case of a developer that is a limited liability partnership — a partner or manager or a person in a position analogous to that of a manager; or (e) in the case of a developer that is a group of persons — any person in that group. (4) A person who contravenes subsection (1)(a) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000. (5) A person who contravenes subsection (1)(b) or (c) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both. (6) To avoid doubt, this section applies without limiting any other restriction or prohibition in any other written law relating to companies, co‑operative societies, societies, limited liability partnerships or partnerships.[Act 54 of 2018 wef 28/06/2023]