Section 22 in Punjab Apartment and Property Regulation Act, 1995
22. Conditions for registration.
- Before registering and granting a certificate of registration to a promoter or, an estate agent under the provisions of Section 21, the competent authority shall satisfy itself,-(a)in the case if the application is for registration as a promoter, that the promoter himself or one of his employees, or one of the partners of the firm or one of the directors of the company if the applicant is a firm or company, as the case may be, possesses the prescribed qualifications for conducting the business of a promoter;(b)in the case if the application is for registration as an estate agent that the applicant possesses qualifications as may be prescribed;(c)that the applicant furnishes to the competent authority, either a bank guarantee or a security, for such amount and in such manner as may be prescribed;Provided that where the applicant is a statutory corporation, board or authority established under any law for the time being in force, no such security shall be required;(d)that the applicant produces an income-tax clearance certificate from the income tax authorities;(e)that the applicant has not been convicted of an offence under this Act or under any law relating to construction or use of premises, or, if convicted, a period of five years has elapsed after that conviction:Provided that an authority created for development of land or housing under any law for the time being in force, shall be exempted from these conditions, and shall be granted a certificate of registration on application.
