Under the previous practice, the licensed housing developer may withdraw the Housing Developer's License and Banker's Guarantee (BG) when its housing development has been completed and the Occupation Permit (OP) had been obtained from the appropriate local authority.

Since 1 st August 2003, the Defect Liability Period (DLP) of 6 months had been extended to 12 calendar months. In line with this extension, this Ministry has decided to adopt a policy extending the Housing Developer's License and BG to 12 months also from the date of issuance of the OP from the appropriate local authority. This policy takes effect from 1 st July 2006.