The Residential Properties (First-hand Sales) Ordinance (Commencement) Notice was published in the Gazette on February 1, and some provisions in the ordinance will be effective as of April 2, 2013.
     These include the commencement day, interpretation of the ordinance, and the provision for the Secretary for Transport & Housing to appoint public officers to be responsible for, and assist in, implementing the ordinance.
     The remaining provisions will come into effect on April 29, covering sales brochures, price lists, show flats, viewing of first-hand completed residential properties, the register of transactions, advertisements for first-hand residential properties, sales arrangements, preliminary agreements for sales and purchase, and agreements for sales and purchase, misrepresentation, and dissemination of false or misleading information.
     The Sales of First-hand Residential Properties Authority will be set up for issuing guidelines, taking enforcement action, handling complaints and public enquiries, conducting publicity and educational programmes, and establishing an electronic database on first-hand residential properties.
     The ordinance aims to enhance the transparency and fairness for sales arrangements of first-hand residential properties, and consumer protection. The maximum penalty for violations under the ordinance is a fine of $5 million and seven years in jail.