Lo.IU) (Prinle S«tor) Regula tions, 1990

t .N. 138 of 1?90

HOMt: OWNERSHIP (ENCOURAG EMEl'I."f) ACT, 1988

(ACT NO. XXVIII 0.' 1988)

Home OwMrShlp (~rqt:ID(DI) (Subskly on Interest on " _

Lo.IU) (Prinle S«tor) Regula tions, 1990

iN exercise of the powers conferred by s«lion 3 of the Home

Ownership (Enoouragement) Act, 1988, the Director of Social

Housing, with the approva l of the Parliamentary &lcretary in the

Ministry for Social Policy with responsibility for Housing. has made the

fo llowing regulations:-

These re~Ulaliort5 mav be a led as the Home Ownership Cibrioo.,

(Encouragement) (Subsidy on Interest on House Loans) (Private

Sector) Regula lions, 1990,

(Regula tion 2)

Subsidy on Intense on House Lo.m (Private Stdor) .Scheme, 1990

(~heme SHD 16)

1. TItis Scheme may be ci ted as the Subsidy on Inte rest on House C;,otioA.

Loans (Private Sector) Scheme, 1990 (Scheme SHD 16) and shall apply

to applications in accordance with the provisions of clause 3 of this

Scheme for the subsidy o f interest on house loal\li.

2. In this Scheme, unless the COnle"t otherwise requires: -

-the Act - with refere nce to clause 21 o f this ~heme has the

same meaning assigned to it in that clause;

- applicanl- meam; a person who applies for a subsidy under

this Sche me;

- the Autho rily- means the Housing Aut ho rit y cstablished by

section 3 of the Ho using Authori ty Act, 1976;

~benefidary" has the same meaning a5$igned to il in section 2

of the principal Act;

"the D irector~ mea ns the Director of Social Ho usi ng and

ineludes any person aut horised to PC! in his behalf;

Mdwe lling_ooU$e" has the !IIlITIe meaning assigned to il in

section 20f the principal Act;

Me mphyteusis" incl udes sub-cmphyteusis;

"Government" means the Governmen t of Malta ;

"ordinary residence" does nOI include a summer residence ;

"prescribed" means prescribed by the DirtclOr;

" the principal Act"

means

the

H ome

Owne~hip

( Encouragement) Act , 19S8.

3. (I) Any person quali6ed 10 do so under this Scheme may

make an application on the prescribed form 10 lhe Director requesting

the subsidy of a loan 10 him for any aflbe purp0se5 mentioned in clause

5 of this Scheme.

(2) A person shall qualify to make an application as

aforesaid where, on the date of the application and subject to the othe r

provisions of this Scheme

(a) the applicant or. in the case of a manied o r engaged

cou ple, the applicant's spouse o r fiancee/fiance , is a citiun of

Malta; and

(b) the applicant is a resident of Malta and bas been so

resident continuo\l$ly for not less than t ... "(lve consecutive months

immcdiately preceding the date of the appliouion; and

(c) the applicant does nOI require Ihe approval of Ihe

Ministe r responsible for finance 10 acq uire immovable property in

Mal ta; and

(d) the applicant does nOI hold a te nement , o ther than the

dwelling-house to be dispo!;ed of in accordance wi lh the provisions

of clause 6 where appli cable, under a title of absolute ownership or

a title of perpet ual emphyte usisor a title oftemporary e mphyteusis

for more than forty years from the date of the application , which

teneme nt can be occupied by the applicant 115 his ordi nary

residence.

(3) Subject to the provisions of sub-<:la use (2) o f this cLause,

an app lication by persons engaged to eaeh othe r shall be made in their

joint names and both must be over e ighteen years of age. In such a case

they shall be jointly and severally liable for the carrying out of all the

conditions laid down in this Scheme.

B ."

(4) An applicant who is an unmarried person shall qualify to

make an application under tbis Scheme only if the applican t is over

thirty years of age.

(S) Unless othe rwise specified elsewhe re in tbis Scheme. a

pe rson shall not qualify 10 make an application under Ihis Scheme if the

applicant or the applican t 's spouse has already be nefi ted under

(a) the scheme pu blished by Government NOIioe Number

124 in , he Government Gazette of t he 16th February. 1988 or any

other sche me substituting it;

(b) any ass;stallCC under what used 10 be known as the

"Ho me O wnership Scheme" or any ol her house purchase

assistance for the encouragement of home owne rship by the

Deparl ment o f Social Housing or by the Land Dcpanmenl or by

the Authority or by a ny of them join tly.

(6) A pcrwn who, as an engaged per$(>O. had beneliued

unde r th is scheme or any of the sche mes published by

(a) Gove rnm ent Notice Number 11 in the Government

Gazette of the 6t h J anua ry, 1987;

(b) Government Notice Number 12 ID the Gove rnm ent

Gazette of the 6th January , 1987;

(c) Governmcnt Notice Number 126 in the Governme nt

Gazette of the 16t h February, 1988;

and whose engage men t wassubsequcntly terminated, shall qualify once

only to make an application unde r th is Scheme provided th at, in

addition to the o ther conditions laid down in this Sc hemc, on the date of

the appl ication th at person is married to a person differe nt from the une

to who m he had been engaged as aforesaid and five years had ela~d

from the date when the subsidy o f the originalloan is terminated by the

Director.

(7) Any a pplication unde r this Scheme shaH be accompan ied

by such documents as the Director may require and the Director may

require the applicant to prod uce any additional documents which he

may consider necessary for the purposes of this Scheme.

(8) An applicant whose appl ication is approved shall be

req ui red to e nt er into an agreement with the Director before thc

applicant can benefit from the provisions of this Schcme and if thc

applicant fails to sign the said agreement when called upon to do so by

the Director the said application shall be dee med to have been

abandoned and the approval thereof by the Director shall be without

any erred wh atsoever.

(9) Any expenses incurred by the applicant in connection

wit h the application shall not be recoverable by the applicant whether or

not the applicat ion is sua:t'SSful.

B R42

1be Scheme entided Subsidy on Inlere51 on How;.e Loans

(Privale 5«Ior) Scheme , 1990 (Scheme SHO 16) in the Schedule to

these regulalioll5 shall have eHect from the coming into force o f these

regulalions for the encouragemen t of home ownership in Malla.

Th e Scheme entitled Subsidy on IlIteresl on House Loans

( Private Sector), Scheme HO 14, published by Government Notice

Number 126 in the Governme nt Gazette of the 16th February , 1988 is

hereby revoked .

(I) The applicant shall give all that in formatio n regardin g his Inform .. "",

fi !Ja ncial means as he may be requi red to give by the Director and for

this purpose the appliealll shall authori$e the Com missione r of Inland

Reve nue. and any other person as may be necessary. 10 give the

Direetor any infonnlllion conce rn ing the applicant's income and

finan6al affairs.

(2) 1ltc Director ma y requ ire the applicant to sign any

decla ration he may consider necessary for the canying ou t o f this

Sc heme and the appl icant sha ll allow the Director to inspect the

a ppl iean t's ordinary residence and any other tene ment held by him as

the Director ma y requ ire.

The loan mentioned in sub-clause ( I) of clause 3 of thisSdteme .... ...,..

must be for anyone of the following purposes

(a) for the purchase o f a dwelling-house ot her than a

Government dwelling-house;

(b) for the construction or completion of a dwelling-house

on land purchase..! by the applicant other th an from the

Government

Pro"idedt hat the dwell ing-house o r land is to be held or is held

by the applicam unde r a title of absolute ownership or of perpetual

emphyteusis or of tempora ry emphyteusis foc 40 years or more and the

dwelling- house will be u$ed e~clusively as Ihe ordinary residence of the

applicant and his fam ily

Provided also that where the aforesaid title is one of temporary

em ph yteusis for les.~ than 40 years the applicant sha ll oot be disqualified

for that reaso n alone if the said emphyteusis is for more tha n 24 yj:llrs

and the emphyteu ta is und er an obligat ion to redeem the ground rent

with in the said period.

(I) Wh ere a pe rson who qualifies to make an applicati on 0.," •• 01

under this Scheme occupies as his o rdin ary reside nce a dwclling- houStl "'~i".f)'

.... ;<l<n<e by

under It ti tle of absol ut e ownershi p or of perpetual cmphyteusis and ."">\",

wishes to change to anot her ordinary residence. tha t person may apply or 1'<'1'<,.,1

foc a subsidy in accordance with the following provisions of this clause. <mphy,<.,, _

(2) Ikfore making the application the applicalll must have

en tered into a promise of sale agreemem in respect of the dweLling-

house occu pied by the applicant as an ordi nary reside nce .

(3) l}efoTe !)cing able to finalise the loan and wit hd raw funds

in terms of the loan agreemenl lhe applicalll must conclude the deed of

sa le in respect of the dwelli ng-house co"e rctl by the promise of sale

agreemc llI as ~forcsa id.

(4) T he proceeds of the sale in accordance wi th sub-clause

(3) of lhiselause must all be used 10 finance Ihe purchase of the dwelling-

house in respect o f which the lo;'n has been advanced.

" '"

(5) Where ' he: applicant sold the dwe llin g- house, which used

10 be occupied by him as his o rdinary residence. immedi ately before th e

application or within 12 mont hs immedia tely preceding the date of ' he

application . the proceeds from that salc Shall be used to finance the

purchase by the Hpplicant of the dwelling-house in respect of which a

loan may be advanced and a subsidy granted upon the application in

accord ance with the provisions of this clause.

(6) The Director shall have Ih e figh. 10 appoint on e or more

architects to de termine the market value of the dwelling-house sold or

to be 50Id by Ihe appl icant under th e provisio ns of this clause and the

value so determined and approved by Ihe Directo r shall be deemed 10

be Ihe proceeds from the sale for the purpose s ofsub-clauses (4) and (5)

of this clause.

(1) Whe re a person who qualifies to make an application

under this Scheme occupies as his ordinary residence a dwelli ng-house

unde r a title of temporary emphyteusis and wishcs to change to anot he r

ordinary residence but does not wish 10 comply with the provisio ns of

paragraph (d) of clause 14 of this Scheme, th at person may appl y for a

subsidy under this Scheme in accordance witll the following provisio ns

of thi s clause.

(2) The provisions of sub-clauses (2 ) and (3) of clause 6 shall

mutatis mutandis apply in respect of the remaining period of thc

empllytcusis.

(3) Where an application is made in 3CC()rdancc with the

foregoing provisions of this clause: the maximum subsidised loan

allowable under this Scheme shall be reduced by one thousand five

hundred M ~1te: se lir; (LmI500).

(4) Whe re a person Ila! already tra nsfe rred fhe rema ining

period of the empllyteusis he shall not. for that reason alon e:. be

disqualified from making an application under thi s clause provided that

where the tra nsfer took place im mediate ly before the application or

wi lhin 12 months immedi ately preceding the da le of the appl icatio n the

provisions o f sub-clause (3) of this clause shall apply.

Any [Xrson who, before the coming into forC(' of this Sche me

bu t since the 14th Nove mber , ]987. obtained,J loa n from a financia l

institution, as may be approved by the Director. for fhe purchase.

construct ion o r completion of a dwelli ng-hou se occ upied by him as his

ordinary residence shall not. for that reason alone, be disqualified from

making an application for a subsidy under this Sche me: provided he

would {)(he:rwise so qualify to make: such an appli cat ion .

(I) The loan me:nlioned in sub-clause <I) of cl ause J of fllis

Scheme and made for anyofthc purposes mentioned in clause 5 shall be

borrowed from a fi nancial institution approved by the Director and the

amount of the loan whieh shall attract a subsid y under this Scheme shall

not exceed the maximu m limit as laid down in dause Wofthis Scheme.

(2) 111.:: loan shall be repaid within a max imum period of

twenty-five years depending on the income of the beneficiary in

accordance with the terms agreed upon between the beneficia ry and the

aforesaid fina neial institution.

(I) Subject 10 the following plOvisioll$ of this clause, the

Direcwr sha ll subsid ise the interests payable o n a loan made in

accordance with this Scheme so lhal the inl ereS IJ payable by the

applicant whose application has bun approved shall be al the rale

shown in the second colu mn of Table A annexed to this Scheme up to

the maximum limi' shown in the third column of the said Table and

accord ing 10 the value of Ihe dwelling-house, as may be dete rmined by

th e DireclOr, shown in the first CQlumn of the same Table.

(2) Where the applic .. tion is made by persons engaged to

each otheror by an unmarried person in accordance with the provisions

of this Scheme. the rail' of inlerest othenr,'ise payable by Ihe applicant

under the provisions o f sutKlause (1) of this clause shall be incrcased by

1% if the application is approved

Provided that whcre th e persons engaged to cach other

subsequently marry each other or where the unmarried l,ppliea nt

subseque ntly becomes marricd , th e rale of interest payable under this

sutKlause: may. upon an application accom pan ied by a copy of the act of

marriage from the Public Registry, be reduced by 1%.

(3) Where the dwelling·twuse: in resped of which the

applica tion is made is the ordin ary residence of the applicant and his

family consisting of five or more members. including the applicant. the

tate of imerest otherwise payable by the applicant under the provisions

of sutK:lause (1) of this clause: sha ll be reduced by 0.5 %.

(4) Where at the time of the application the dwelling·house

in rcsped of which the application is made is the ordi na ry reside nce of

the applicam and his family which consists of less than five membe rs

including the applicam but the number o f members in the family

subsequently increases to five or more the rate of interest may , upon

application. be reduced as provided in sub·clause: (3) of this clause with

cffe<:1 from the date that Ihe next payment o f in terest is due.

(5) The Dite<:torshall have the rightlodetermine the martet

value of the dwelli ng· house: mentioned in sutKlause (I) ofl his clause in

the man ner provided in sutKlause (6) of clause 60fthis Sche me and in

that case the value so determined and approved by the Direetor shall be

the value of the said dwelling· housc: for the purposes of this clause.

11 . (I) An applicant whose applicat ion refers to Ihe purchase of I"",,,,, loo",

a dwelling· ho use which was buill and ready for habitation before the 1st .ooJ ,<O<Iy fno

January , 1939 shall. if the application is approved, be entitled to an •• 1>1 .. ,I00I

additio nal sofl loan up 10 a maximum o f three thousand Malt ese li ti h ') ..... '}".

(Lm3,OOO) the inte reSIS on which shall be subsidised by Ibe Diredor so

that the interests payable by th e appl icant thereon shall be at the rate of

LS% provided that Ihe tOlal amount or the loans granted shaH not

exceed 80% o f Ihe purchase price of Ihe d .... elli ng·house.

(2) The soft loan me ntioned in sub-.claw.e (1) of Ihis clause

may be ", ... ailed of before the loan mentioned in clause IOofthis Scheme

but the said sorl loan shall nOl be allowed where the value of the

dwelli ng-house as determined by lhe Director ClIcccds fifteen thousand

Maltese liri (Lm1 5,OOO).

(3) Where the value of the dwelling-house determined as

aforesaid exceeds fifteen thousand Maltese tiri (LmlS,OOO) the

applican t may benefit from the sofl loan provided for in clause 120fthi s

Scheme.

(4) An applicant under Ihis clause may also apply for a

further loan not exceeding two thousand Maltese lir; (Lm2 ,OCKI), at the

subsidised nlle of inlercsl menlioned in clause iOorthis Scheme for the

purpose of carrying 001 improvemenl'l in the purchll5ed dwe lling-house_

(S) Notwith standing the provisions of sub-clause (S) of

clause J of thi s Scheme, a person who benefits, or qualifies to benefi t,

under this clause shall not be disqualified for thal re&son alone from

benefiting, after the coming into force of these regul at ions, under the

scheme published by GOO'ernme nt Notice 124 in the Government

Gaune of Ihe 16th February, 1988 o r under any ot he r scheme

substituting it.

( I) An applicant whose application refers to the purehll5eof

a dwelling-house bu il! and ready for habita tion on or afler the 1st

January, 1939 but before the 1st January , l960 shall . if the application is

approved, be entitled to an addi tional soft loan uptoa mllllimum oftwo

thousand Maltese !iri (Lm2,OOO) Ihe interests on which shall be

subsidised

by the Director so that Ihe inlerests payable by the applicant

shall be at the rate of 2.5% provided that the total amoun t of the loall5

gran ted shall not exceed 80% o f the purchase price of the dwelling-

house.

(2) The soft loan menlioned in sub-<:Iause (I) of this clause

may be availed of before the loan mentioned in clause IO ofthisScheme

but the said soft loan sha ll nOI be allowed where the maximum value of

the dwelling-house as de te rmined by the Director exteeds twe nty

thousand Maltese!iri (Lm20,OOO).

(J) Whe re Ihe mllllimum value of Ihe dwe lling-house

dete rmined as aforesaid exceeds twent y th ousand Maltese liri

(Lm20,OOO), the applicant may benefit from the soft loan provided forin

the following clause,

(4) The provisions of sub-dauses (4) and (S) of clause 11 of

this Scheme sha ll apply to an applicant or a person who benefits or

qualifies to benefit under this clause.

(I) An applicant whose applica tion refen to Ihe purchll5eof

a dwelling-house built and ready for habitation on or after the \st

January, 1960 but before t he 1st January , 1980 shall, if the application is

approved , be entitled to an additiollal soft loan up to a mllllimum of one

thousand Malt ese li ri ( Lm l,OOO) the interests on Whi ch shall be

'stS""w'Y. 19 ?O.

B ...

subsidised by the Director 50 tbat the interesl5 paya ble by the applicant

IlIereon shall be al the rate o f 3% provided Ihalthe IQ!a] amOllm o f the

loa ns granted shall not exceed ~% of the purchase price of the

dwelling· ho usc.

(2) The soft loan mentioned in sub-clause (1) of this clause

may be availed of before the loa n men tioned in clause IOof tbis Scheme

but the sa id soft loa n sha ll nOI be allowed whe re the value of the

dwclling·house as determin ed by the Director exceeds twenty-five

t housand Maltese liri ( Lm2S,OOO) .

The app licam whose appl ication has been approved sha ll

~. ,

_ p""",of

(a) (or as long as the loan is o utstandin g, keep the dwelli ng· .po;>lic.on, .

house in qUdlion in a good Slate of repair 10 the satisfaction of the

Director and shall make good for any damage, whe ther o rdinary .

eXlraordi nary or fortuit ous , caused 10 the dwelling-house saving his

rights of reco urse against third parties;

(b) pay all amounts due on the dwe lling-house and furnish

the Director with evidenc:c: o f such payme nts when $(I requested;

(c) no t use the dwelling- house for any purpose ot he r than

that o f a dwe ll ing-house

(d) de liver the: keys and the possession of the premises

which. on the date of the application or at any time duri ng the

pe ri od of six mon th s im media tely prece ding the application. were

occupied by the applicant as his ordinary reside nce provided those

prem ises were held by the appl icant unde r a title of lease o r of

te mpornry em phy1eusis; such delivery shall be: made aS .'lOOn a5 ~he

applicant occupies the d"'elling-bouse to which the appl ication

re fers but in any case not later than the lime allowed in clause IS for

occupation by the applican t

(e) allow the: Di rector ao:ess to the dwelling- house 10 which

the appl ication rden up to th irteen years from the date of issue of

the relative buildi ng permit or until the subsidised loan under this

Scheme has been repa id. whicheve r is the later and as the case may

b<.

( I) Whe re the appl ication is for the purchase of a dwe lling-

ho use unde r clause i3 of this Scheme , the applican t wh05e application

has been approved shall

( a) conelude the deed of pu rehase of the dwelling-tlOuse

withi n a m a~ im um pe riod o f three months from the date of th.c

app roval o f the application: and

(b) within eigh tccn mont hs from the date of the pu bl iCll tio"

of the deed o fpurchasc in the:case o f ajoint application by cnltagcd

peT$OnS, or "" ithin two months from the sa id dat e of pu bl ication in

all 0\ her cases, occupy the said dwelling-house,

&I,

B

(2) Where the application concerns tile purchase of a

dwelling-house under clause: I L or 12 of Ihis Scheme, th e applicant

whose applicatioJl has been approved shall

(a) conclude the deed o f purchase of Ihe dwclling-tlOuse

within a maximum period of three mOlllhs from the date of the

approval of the application ; and

(b) within eighteen mon ths from the dale of the publication

oflhc deed of purchase in thecaseof ajoint a!'Plication by engaged

pe rsons . or within six months from the said dale of publication in all

other cases, occupy th e said dwelling-hollsc.

(3)

Whe re Ihe applicati on concerns Ihe purchase of an

lInoompleu~d

dwelling-house, the applicant shall occupy Ihe said

dwelling-house within eighteen months from the dale of Ihe approval of

the applica tion.

(4) Where the application concerns the COnst ruction of a

dwelli ng-house, the applicant shall com mence bui lding work s within

th ree months from the date of issue of the rela tive building pennit and

Shall complete the building of the dwelling- house ready for habitation

and shall OC(:upy the same within three years and three mo nths from the

said date.

(1) In the case of a joint application by engaged pe l:oKJnS.

where the engagement is subseque ntly dissolved

(a) both appliea ms shall , within thirty da)'li from the date of

such dissolu tion , give notice thereof to the Di rector

(b) the Directo r shall immediately suspend the subsidy on

the interest rate and any furthe r withdrawals on the loan account

pending investiga lions and his final decision Ihereon

(c) lhe applicants shall , within Ihiny da)'$ from the date of

the notice mentioned in paragraph (a) of this sutH:lause and in

accorda nce with and subject to the cond it ions laid down in Ihe

provisions of clause 18 of this Scheme, jointly request in writing

authority to tran sfer under a tit le of sale or perpetual emphyteusis

the dwelling-house in respect of which the ir application had been

approved;

(d) lbe applicants shall . within three momhs fro m the date of

the approval of their request made according to paragraph (c) of

Ihis sutH:lause. transfer the said dwelling·house as aforesaid

Provid ed that Ihe Di rector may ex tend the mentioned period

o f Ihree months as he may deem fit.

(2) Where the applicants fail to compl y with the provisions of

paragraph (a) of sutH:la use (1) o f this clause, the provisio ns o f

paragraph (b) of the same sub-clause shall apply from the date Ih at the

Director becomes o therwise aware o f the d issolution of the

engagement.

(3) Whe re, notwithstanding the efforts of the applican ts to

comply wi lh the provisions of paragraphs (c) and (d) of sulK:lausc (1) of

this clause , Ihe \ransfer of t he dwelling-house cannot take place withi n

Ihe period lai d down in the sa id pa ragra ph (d) because no purchaser o r

acqu ire r of the dwelling-house co mes forward 10 conclude the transfer,

the Director shall have the right to pu rchase or acq uire the sa id

dwe lling-house from the appl icants al a price fixed by an architect

designated for t he pllrpose by the Director or 10 require the applican ts

to a uthorise hi m 10 transfer us aforesaid the same dwelling-house on

thei r behalf.

(4) Where the Di rector exercises his afo resaid righl to

purchase or acquire the dwelling-house. from the price determined in

acoordance with the provisions of sutH::la use (3) o f this clause the

Directo r shall ded uct all subsid ies from which the applicants benefited

under this Sc heme and all expen!leS and penalties as dete rmin ed by the

Director and the remaining balance shall be the a mount payable to the

applicants on tne deed of transfer saving any obligat ions entered into by

the m in favour of th e fina ncial institutio n approved by the Director in

respect of the loan advanced to them,

( I) Where the successful applicant fails to comply with the Src_at

conditions imposed upon him unde r this Scheme or whe re it is found ... I • •

that any of the inform atio n suhmiued by the applica nt is nO! correct the

Director may, without prej udice to hi s right to terminat e any agree ment by oppIo<:aro ••

under this Scheme o r to extend for a just cause any tim e li mit

thereunde r, ta ke any or all of the following measures

(a) suspend. terminate o r reduce the subsidy;

(b) suspend or prohibit any further withdrawals o n the loa n

account ;

(c) recove r any or all of the loans, subsidies orot her benefits

received by the applicant under thi s Sche me ;

(d) impose on the applican t the payment of a penaltyoffour

Maltese !in (Lm4) for eve ry wee k o r part thereof duri ng which the

successful applicant is in defa ul t.

(2) An y person woo fails to comply with thc cond it io ns

im posed upon him under this Schemeor who gives falsc information for

the purposes of any application made by him unde r this Scheme shall be

disq ualified for a pe riod of five yea rs from benefit ing from any Sl:hc me

made with the approval of the Parl iame ntary Secretary responsible for

housing.

(I) Any dwelling·ho use acquired undcr this Scheme sha ll Tr-'t,."..""

not be transfe rred under any titl e, ot her th an 1'1111511 mortis, by the """'IiriMy.

be neficiary unless he complies wi th the following provisions of this

cla use.

. '"

(2) Where the beneficia ry has ta ken a loan under the

provisions of clauses 11. 12 and 13 of this Sche me and Ihe transfe r is to

lake place within te n years from the da le of the fi~t withdrawal o n the

loan. the beneficiary sha ll , before the transfe r is effected. pay to the

Director and the financial institution approved by him under this

Scheme. as the case may be. the whole or part of the value of any subsidy

o r othe r benefit received by the be neficiary as laid down in the second

column of Ta ble B a nnexed \0 this Scheme depending o n the period

after the first withdrawa l on the loan account as shown in the first

col umn of the said Table.

(3) Where the beneficiary has laken a loan othe r than a loan

as mentioned in sub--clause (2) of this clause and the transfe r of the

dwell in g·house is 10 take place within thirt ee n year.; from the date ofthe

first withdrawal o n the loan . the beneficiary shall, before transfer is

effected, pay to Ihe Director and \0 the financial institution approvcd by

him unde r this Scheme, as the case may be, the whole o r part of the

value of any subsidy or other benefit receivcd by the beneficiary as laid

down in the second column of Tablc C a nnexed 10 th is Scheme

depending on the period aftcr Ihe fi~t withd rawal on the loan accoun t as

shown in th e first col umn of the sa id Table .

(4) Whe re the beneficiary has take n a loan as mentioned in

sub-dauses (2) or (3) of this clause and the transfer of the dwelling·

house is to take place. after ten o r thirteen years respectively, as Ihe case

may be, from the date of the first withdrawal on the loan, the beneficia ry

shall give the Director one month's notice of his in tention tOl ransferlhe

said dwcllin g-house and the Director shall thereupon te rmina te any

arrangement for the subsidy under this Schemeof any interests payable

by the beneficia ry.

Relief as provided in paragraph (b) of 5«tion 3 of the

principal Act is here by grant ed o n the death of the be neficiary. and

where the be neficia ry is married at the time of th e acquisi tion of the

d .... elli ng-house. also o n the dea th of th e beneficiary's spouse. in respect

of any dwelli ng-house acq uired unde r the provisio ns of clause ] I o r] 2 of

this Scheme and the provisions of section 6 of that Act shalll he refore

apply Ihere to

Provided that the aforesaid relief shall only apply in respect of

the first seven thousand Maltese liri (Lm7.000) of the value of the

d .... elling-house.

The right is hereby granted to register unde r Ihe Housing

(Decontrol) Ordinance. a dwelling-house acq uired by a beneficiary

unde r the provisio ns of clause 1I or 12 of thi s Scheme and the provisions

of sectio n 7 of the princi p~] Act shaJlthereforc apply the re to.

--.

The transfer of a dwelling- house to a beneficiary unde r thi s

sche

me

shall be exe mpt from the fo llowing duti es unde r Ihc DUl y o n

/<etXXXl oiI9l!1 .

Documents Act. ]98 1 hereinafter in this clause refe rred to as ··the Act",

R

""

provided lha1 th e transfe r takes place under tile provisions of clause 1I

or 12 of this Scheme and lhe beneficiary the reby becomes the absolut e

owner of immovable property for th e firSltim e:-

(3) 33% of Ihe duly under Titl e HI of Part III of the Act

chargeable on the deed of !ransfe r of the dwd li ng-house 10 the

beneficiary

(b) 33% of the duty unde r Tit le IV of Pan III of the Ac!

, ha rgeablc on th e rece ipt of th e payment of th e price or othe r

considernl ioo for th e transfer of the dwelling-house: 10 th e

beneficiary .

(I) Any application under this Scheme shall be lodged I ""ICU .....

and ""'rdoo ... n,

personally or by registe red pm! by the appl icant with tile Di rector.

a/ awlica.ion ••

(2) Where a ny applicant under this Scheme fails 10 appear on

the promise of sale agree melll or on the deed o f sale or transfer. as the

case may be, when ca lled upon to doso by the vendor or trnnsferor. his

applicat ion shall be. deemed to have been abandoned .

2.3. Notwithstanding anything contained in the foregoing Ri",lo(

provisio ns o f this Scheme. Ih e Direct or shall have Ihc right 10 refuse any r<houl .

appl ication.

TABLE A

(Oause 10)

First Col umn

Second Column

Third Column

Valueof

Imercsl Ratc

Maximum

Dwelling- House

Percen t

Subsid ised Loan

in Mallcse Li Ti

'.""

0 - 5.!xx)

2.00

5,001 - 6.000

2.20

4.200

'.<100

6,001- 7.""

2.<10

',""

7.IXH - 8.""

2.60

2,80

8 ,00 1- 9,""

' ,"",

9,00 1 - 10.(0)

3.00

5,""

10,001 - 11.(0)

3.20

5. 200

1 l. 00 1 - 12.(XXJ

5,,00

3.40

3.60

12.00 1 - 13.(0)

5,""

Firsl Column

Seco nd Column

Third Column

Va[ueof

Interest Rate

Maximum

Percent

Subsidised Loan

Dwelling-H ouse

in Maltese Lir;

13,001 - 14 ,<XXl

3.00

14.001 - 15,CXXl

4.00

15,001 - 16,CXXl

4.20

16.001-17,000

4,40

17,001 - 18,000

4.60

IS,cm - 19,000

4.SO

19,(Xll - W ,OOO

5.00

20.001 - 21,000

5,20

21,OCIl - 22,000

5.40

22,0:11 - 23JJOO

5.60

23,001 - 24,000

5.SO

24,001- 25,000

6.00

TABLE B

(Clause 18)

FimColumn

Period in Years Afterfirst

Withdrawal on Loan Account

less than4 ........................................... .. .......

4 or more but less than 5 ... ... ... ... ... ... ...... ....... ...

5 or more but less th an 6 ........................... . .. , ...

6ormorebutless than7 .... _.

7 or mo re but less than 8 .. . ..... ... ... ... . .. . .. ..... ... ...

8 or more but less than 9 . ...... .. . ... ...... ............

9 or more but less than 10 ... ... ... ... ... ... ... ... ... .... .

TABLE C

(aause 18)

First Column

Period in Years Afte r fi rst

Withdrawa l on u.an Account

lesstha n7 .. ... .. .... ... .. . .......... .. . ... . ... .. .. .......... .

7 or more but less than 8 .... .. ........................... .

8 or more but less Iha n9 ......... .... .............. .. .... .

9 or more but less than 10 . .. . .. ........ .. ................ .

10 or more but less than 11 ....... ... .................... .

11 or more but less than 12 ....... . .. ..... ............... .

10. 12 ormorebu tleS$l han13 . ......... . .. .. .. . .. .... .. ... ..

tpput>bhk., mid.Oi .... nirn<n',.· 1.lnlorrnaujon;

K ... ilja i'oblu""" "1"" Drp,,,,,,,,,,,o(lnfo<-i-

M;'''''lh n.h'""'l"'rija ,ol-G""fn _ P,iIIlNI .. ,/u- Oow""",,,, 1''';'";,,, ""~