HOME OWNERSHIP (ENCOURAGEMENT) (SUBSIDY ON INTEREST ON HOUSE LOANS) (PRIVATE SECTOR) REGULATIONS (privatesector)

SUBSIDIARY LEGISLATION 328.02

HOME OWNERSHIP (ENCOURAGEMENT)

(SUBSIDY ON INTEREST ON HOUSE LOANS)

(PRIVATE SECTOR) REGULATIONS

7th September, 1990

LEGAL NOTICE 138 of 1990, as amended by Legal Notice 424 of 2007.

The title of these regulations is the Home Ownership

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

Sector) Regulations.

(Regulation 2)

Subsidy on Interest on House Loans (Private Sector) Scheme, 1990

(Scheme SHD 16)

1. The title of this Scheme is the Subsidy on Interest on

House Loans (Private Sector) Scheme, 1990 (Scheme SHD 16) and

shall apply to applications in accordance with the provisions of

clause 3 for the subsidy of interest on house loans.

2. In this Scheme, unless the context otherwise requires

"the Act" with reference to clause 21 has the same meaning

assigned to it in that clause;

"applicant" means a person who applies for a subsidy under this

Scheme;

"the Authority" means the Housing Authority established by

article 3 of the Housing Authority Act;

"beneficiary" has the same meaning assigned to it in article 2 of

the principal Act;

"the Director" means the Director of Social Housing and includes

any person authorised to act in his behalf;

"dwelling-house" has the same meaning assigned to it in article 2

of the principal Act;

"emphyteusis" includes sub-emphyteusis;

"Government" means the Government of Malta;

"lease" includes sub-lease;

"ordinary residence" does not include a summer residence;

"prescribed" means prescribed by the Director;

"the principal Act" means the Home Ownership

(Encouragement) Act.

3. (1) Any person qualified to do so under this Scheme may

make an application on the prescribed form to the Director

requesting the subsidy of a loan to him for any of the purposes

mentioned in clause 5.

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

where, on the date of the application and subject to the other

provisions of this Scheme

(a) the applicant or, in the case of a married or engaged

couple, the applicant’s spouse or fiancée/fiancé, is a

citizen of Malta; and

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

resident continuously for not less than twelve

consecutive months immediately preceding the date of

the application; and

(c) the applicant does not require the approval of the

Minister responsible for finance to acquire immovable

property in Malta; and

(d) the applicant does not hold a tenement, other than the

dwelling-house to be disposed of in accordance with

the provisions of clause 6 where applicable, under a

title of absolute ownership or a title of perpetual

emphyteusis or a title of temporary emphyteusis for

more than forty years from the date of the application,

which tenement can be occupied by the applicant as

his ordinary residence.

(3) Subject to the provisions of sub-clause (2), an application

by persons engaged to each other shall be made in their joint names

and both must be over eighteen 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.

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

make an application under this Scheme only if the applicant is over

thirty years of age.

(5) Unless otherwise specified elsewhere in this Scheme, a

person shall not qualify to make an application under this Scheme

if the applicant or the applicant’s spouse has already benefited

under

(a) the scheme published by Government Notice Number

124 in the Government Gazette of the 16th February,

1988 or any other scheme substituting it;

(b) any assistance under what used to be known as the

"Home Ownership Scheme" or any other house

purchase assistance for the encouragement of home

ownership by the Department of Social Housing or by

the Land Department or by the Authority or by any of

them jointly.

(6) A person who, as an engaged person, had benefited under

this scheme or any of the schemes published by -

(a) Government Notice Number 11 in the Government

Gazette of the 6th January, 1987;

(b) Government Notice Number 12 in the Government

Gazette of the 6th January, 1987;

(c) Government Notice Number 126 in the Government

Gazette of the 16th February, 1988;

and whose engagement was subsequently terminated, shall qualify

once only to make an application under this Scheme provided that,

in addition to the other conditions laid down in this Scheme, on the

date of the application that person is married to a person different

from the one to whom he had been engaged as aforesaid and five

years had elapsed from the date when the subsidy of the original

loan is terminated by the Director.

(7) Any application under this Scheme shall be accompanied

by such documents as the Director may require and the Director

may require the applicant to produce any additional documents

which he may consider necessary for the purposes of this Scheme.

(8) An applicant whose application is approved shall be

required to enter into an agreement with the Director before the

applicant can benefit from the provisions of this Scheme and if the

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

by the Director the said application shall be deemed to have been

abandoned and the approval thereof by the Director shall be

without any effect whatsoever.

(9) Any expenses incurred by the applicant in connection with

the application shall not be recoverable by the applicant whether or

not the application is successful.

The Scheme entitled Subsidy on Interest on House Loans

(Private Sector) Scheme, 1990 (Scheme SHD 16) in the Schedule to

these regulations shall have effect from the coming into force of

these regulations for the encouragement of home ownership in

Malta.

The Scheme entitled Subsidy on Interest on House Loans

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

Number 126 in the Government Gazette of the 16th February, 1988

is hereby revoked.

(1) The applicant shall give all that information regarding

his financial means as he may be required to give by the Director

and for this purpose the applicant shall authorise the Commissioner

of Inland Revenue, and any other person as may be necessary, to

give the Director any information concerning the applicant’s

income and financial affairs.

(2) The Director may require the applicant to sign any

declaration he may consider necessary for the carrying out of this

Scheme and the applicant shall allow the Director the inspect the

applicant’s ordinary residence and any other tenement held by him

as the Director may require.

The loan mentioned in clause 3(1) must be for any of the

following purposes

(a) for the purchase of a dwelling-house other than a

Government dwelling-house;

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

on land purchased by the applicant other than from the

Government

Provided that the dwelling-house or land is to be held or is

held by the applicant under a title of absolute ownership or of

perpetual emphyteusis or of a temporary emphyteusis for forty

years or more and the dwelling-house will be used exclusively as

the ordinary residence of the applicant and his family

Provided also that where the aforesaid title is one of

temporary emphyteusis for less than forty years, the applicant shall

not be disqualified for that reason alone if the said emphyteusis is

for more than twenty-four years and the emphyteuta is under an

obligation to redeem the ground rent within the said period.

(1) Where a person who qualifies to make an application

under this Scheme occupies as his ordinary residence a dwelling-

house under a title of absolute ownership or of perpetual

emphyteusis and wishes to change to another ordinary residence,

that person may apply for a subsidy in accordance with the

following provisions of this clause.

(2) Before making an application the applicant must have

entered into a promise of sale agreement in respect of the dwelling-

house occupied by the applicant as an ordinary residence.

(3) Before being able to finalise the loan and withdraw funds

in terms of the loan agreement the applicant must conclude the

deed of sale in respect of the dwelling-house covered by the

promise of sale agreement as aforesaid.

(4) The proceeds of the sale in accordance with sub-clause (3)

must all be used to finance the purchase of the dwelling-house in

respect of which the loan has been advanced.

(5) Where the applicant sold the dwelling-house which used to

be occupied by him as his ordinary residence, immediately before

the application or within twelve months immediately preceding the

date of the application, the proceeds from that sale shall be used to

finance the purchase by the applicant of the dwelling-house in

respect of which a loan may be advanced and a subsidy granted

upon the application in accordance with the provisions of this

clause.

(6) The Director shall have the right to appoint one or more

architects to determine the market value of the dwelling-house sold

or to be sold by the applicant under the provisions of this clause

and the value so determined and approved by the Director shall be

deemed to be the proceeds from the sale for the purposes of sub-

clauses (4) and (5).

(1) Where a person who qualifies to make an application

under this Scheme occupies as his ordinary residence a dwelling-

house under a title of temporary emphyteusis and wishes to change

to another ordinary residence but does not wish to comply with the

provisions of clause 14(d), that person may apply for a subsidy

under this Scheme in accordance with the following provisions of

this clause.

(2) The provisions of clause 6(2) and (3) shall mutatis

mutandis apply in respect of the remaining period of the

emphyteusis.

(3) Where an application is made in accordance with the

foregoing provisions of this clause the maximum subsidised loan

allowable under this Scheme shall be reduced by three thousand

and four hundred and ninety-four euros and six cents (€3,494.06).

(4) Where a person has already transferred the remaining

period of the emphyteusis he shall not, for that reason alone, be

disqualified from making an application under this clause provided

that where the transfer took place immediately before the

application or within twelve months immediately preceding the

date of the application the provisions of sub-clause (3) shall apply.

Any person who, before the coming into force of this

Scheme but since the 14th November, 1987, obtained a loan from a

financial institution, as may be approved by the Director, for the

purchase, construction or completion of a dwelling-house occupied

by him as his ordinary residence shall not, for that reason alone, be

disqualified from making an application for a subsidy under this

Scheme provided he would otherwise so qualify to make such an

application.

(1) The loan mentioned in clause 3(1) and made for any of

the purposes mentioned in clause 5 shall be borrowed from a

financial institution approved by the Director and the amount of the

loan which shall attract a subsidy under this Scheme shall not

exceed the maximum limit as laid down in clause 10.

(2) The loan shall be repaid within a maximum period of

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

accordance with the terms agreed upon between the beneficiary and

the aforesaid financial institution.

(1) Subject to the following provisions of this clause, the

Director shall subsidise the interests payable on a loan made in

accordance with this Scheme so that the interests payable by the

applicant whose application has been approved shall be at the rate

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

to the maximum limit shown in the third column of the said Table

and according to the value of the dwelling-house, as may be

determined by the Director, shown in the first column of the same

Table.

(2) Where the application is made by persons engaged to each

other or by an unmarried person in accordance with the provisions

of this Scheme, the rate of interest otherwise payable by the

applicant under the provisions of sub-clause (1) shall be increased

by 1% if the application is approved

Provided that where the persons engaged to each other

subsequently marry each other or where the unmarried applicant

subsequently becomes married, the rate of interest payable under

this sub-clause may, upon an application accompanied by a copy of

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

(3)

Where the dwelling-house in respect of which the

application is made is the ordinary residence of the applicant and

his family consisting of five or more members, including the

applicant, the rate of interest otherwise payable by the applicant

under the provisions of sub-clause (1) shall be reduced by 0.5%.

(4) Where at the time of the application the dwelling-house in

respect of which the application is made is the ordinary residence

of the applicant and his family which consists of less than five

members including the applicant but the number of 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)

with effect from the date that the next payment of interest is due.

(5) The Director shall have the right to determine the market

value of the dwelling-house mentioned in sub-clause (1) in the

manner provided in clause 6(6) and in that case the value so

determined and approved by the Director shall be the value of the

said dwelling-house for the purposes of this clause.

(1) An applicant whose application refers to the purchase

of a dwelling-house which was built and ready for habitation before

the 1st January, 1939 shall, if the application is approved, be

entitled to an additional soft loan up to a maximum of six thousand

and nine hundred and eighty-eight euros and twelve cents

(€6,988.12) the interests on which shall be subsidised by the

Director so that the interests payable by the applicant thereon shall

be at the rate of 1.5% provided that the total amount of the loans

granted shall not exceed 80% of the purchase price of the dwelling-

house.

(2) The soft loan mentioned in sub-clause (1) may be availed

of before the loan mentioned in clause 10 but the said soft loan

shall not be allowed where the value of the dwelling-house as

determined by the Director exceeds thirty-four thousand and nine

hundred and forty euros and sixty cents (€34,940.60).

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

aforesaid exceeds thirty-four thousand and nine hundred and forty

euros and sixty cents (€34,940.60) the applicant may benefit from

the soft loan provided for in clause 12.

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

loan not exceeding four thousand and six hundred and fifty-eight

euros and seventy-five cents (€4,658.75), at the subsidised rate of

interest mentioned in clause 10 for the purpose of carrying out

improvements in the purchased dwelling-house.

(5) Notwithstanding the provisions of clause 3(5), a person

who benefits, or qualifies to benefit, under this clause shall not be

disqualified for that reason alone from benefiting, after the coming

into force of these regulations, under the scheme published by

Government Notice 124 in the Government Gazette of the 16th

February, 1988 or under any other scheme substituting it.

(1) An applicant whose application refers to the purchase

of a dwelling-house built and ready for habitation on or after the 1st

January, 1939 but before the 1st January, 1960 shall, if the

application is approved, be entitled to an additional soft loan up to

a maximum of four thousand and six hundred and fifty-eight euros

and seventy-five cents (€4,658.75) the interests on which shall be

subsidised by the Director so that the interests payable by the

applicant shall be at the rate of 2.5% provided that the total amount

of the loans granted shall not exceed 80% of the purchase price of

the dwelling-house.

(2) The soft loan mentioned in sub-clause (1) may be availed

of before the loan mentioned in clause 10 but the said soft loan

shall not be allowed where the maximum value of the dwelling-

house as determined by the Director exceeds forty-six thousand and

five h undred and ei ghty-sev en euros and forty-seven cen ts

(€46,587.47).

(3) Where the maximum value of the dwelling-house

determined as aforesaid exceeds forty-six thousand and five

hundred and eighty-seven euros and forty-seven cents

(€46,587.47), the applicant may benefit from the soft loan provided

for in the following clause.

(4) The provisions of clause 11(4) and (5) shall apply to an

applicant or a person who benefits or qualifies to benefit under this

clause.

(1) An applicant whose application refers to the purchase

of a dwelling-house built and ready for habitation on or after the 1st

January, 1960 but before the 1st January, 1980 shall, if the

application is approved, be entitled to an additional soft loan up to

a maximum of two thousand and three hundred and twenty-nine

euros and thirty-seven cents (€2,329.37) the interests on which

shall be subsidised by the Director so that the interests payable by

the applicant thereon shall be at the rate of 3% provided that the

total amount of the loans granted shall not exceed 80% of the

purchase price of the dwelling-house.

(2) The soft loan mentioned in sub-clause (1) may be availed

of before the loan mentioned in clause 10 but the said soft loan

shall not be allowed where the value of the dwelling-house as

determined by the Director exceeds fifty-eight thousand and two

hundred and thirty-four euros and forty-four cents (€58,234.44).

The applicant whose application has been approved shall

(a) for as long as the loan is outstanding, keep the

dwelling house in question in a good state of repair to

the satisfaction of the Director and shall make good for

any damage, whether ordinary, extraordinary or

fortuitous, caused to the dwelling-house saving his

rights of recourse against third parties;

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

the Director with evidence of such payments when so

requested;

(c) not use the dwelling-house for any purpose other than

that of a dwelling-house;

(d) deliver the keys and the possession of the premises

which, on the date of the application or at any time

during the period of six months immediately preceding

the application, were occupied by the applicant as his

ordinary residence provided those premises were held

by the applicant under a title of lease or of temporary

emphyteusis; such delivery shall be made as soon as

the applicant occupies the dwelling-house to which the

application refers but in any case not later than the

time allowed in clause 15 for occupation by the

applicant;

(e) allow the Director access to the dwelling-house to

which the application refers up to thirteen years from

the date of issue of the relative building permit or until

the subsidised loan under this Scheme has been repaid,

whichever is the later and as the case may be.

(1) Where the application is for the purchase of a

dwelling-house under clause 13, the applicant whose application

has been approved shall

(a) conclude the deed of purchase of the dwelling-house

within a maximum period of three months from the

date of the approval of the application; and

(b) within eighteen months from the date of the

publication of the deed of purchase in the case of a

joint application by engaged persons, or within two

months from the said date of publication in all other

cases, occupy the said dwelling-house.

(2) Where the application concerns the purchase of a dwelling-

house under clause 11 or 12, the applicant whose application has

been approved shall

(a) conclude the deed of purchase of the dwelling-house

within a maximum period of three months from the

date of the approval of the application; and

(b) within eighteen months from the date of the

publication of the deed of purchase in the case of a

joint application by engaged persons, or within six

months from the said date of publication in all other

cases, occupy the said dwelling-house.

(3) Where the application concerns the purchase of an

uncompleted dwelling-house, the applicant shall occupy the said

dwelling-house within eighteen months from the date of the

approval of the application.

(4) Where the application concerns the construction of a

dwelling-house, the applicant shall commence building works

within three months from the date of issue of the relative building

permit and shall complete the building of the dwelling-house ready

for habitation and shall occupy the same within three years and

three months from the said date.

(1) In the case of a joint application by engaged persons,

where the engagement is subsequently dissolved

(a) both applicants shall, within thirty days from the date

of such dissolution, give notice thereof to the Director;

(b) the Director shall immediately suspend the subsidy on

the interest rate and any further withdrawals on the

loan account pending investigations and his final

decision thereon;

(c) the applicants shall, within thirty days from the date of

the notice mentioned in paragraph (a) and in

accordance with and subject to the conditions laid

down in the provisions of clause 18, jointly request in

writing authority to transfer under a title of sale or

perpetual emphyteusis the dwelling-house in respect of

which their application had been approved;

(d) the applicants shall, within three months from the date

of the approval of their request made according to

paragraph (c), transfer the said dwelling-house as

aforesaid

Provided that the Director may extend the

mentioned period of three months as he may deem fit.

(2) Where the applicants fail to comply with the provisions of

sub-clause (1)(a), the provisions of sub-clause (1)(b) shall apply

from the date that the Director becomes otherwise aware of the

dissolution of the engagement.

(3) Where, notwithstanding the efforts of the applicants to

comply with the provisions of sub-clause (1)(c) and (d), the transfer

of the dwelling-house cannot take place within the period laid

down in the said paragraph (d) because no purchaser or acquirer of

the dwelling-house comes forward to conclude the transfer, the

Director shall have the right to purchase or acquire the said

dwelling-house from the applicants at a price fixed by an architect

designated for the purpose by the Director or to require the

applicants to authorise him to transfer as aforesaid the same

dwelling-house on their behalf.

(4) Where the Director exercises his aforesaid right to

purchase or acquire the dwelling-house, from the price determined

in accordance with the provisions of sub-clause (3) the Director

shall deduct all subsidies from which the applicants benefited under

this Scheme and all expenses and penalties as determined by the

Director and the remaining balance shall be the amount payable to

the applicants on the deed of transfer saving any obligations

entered into by them in favour of the financial institution approved

by the Director in respect of the loan advanced to them.

(1) Where the successful applicant fails to comply with

the conditions imposed upon him under this Scheme or where it is

found that any of the information submitted by the applicant is not

correct the Director may, without prejudice to his right to terminate

any agreement under this Scheme or to extend for a just cause any

time limit thereunder, take any or all of the following measures

(a) suspend, terminate or reduce the subsidy;

(b) suspend or prohibit any further withdrawals on the

loan account;

(c) recover any or all of the loans, subsidies or other

benefits received by the applicant under this Scheme;

(d) impose on the applicant the payment of a penalty of

nine euros and thirty-two cents (€9.32) for every week

or part thereof during which the successful applicant is

in default.

(2) Any person who fails to comply with the conditions

imposed upon him under this Scheme or who gives false

information for the purposes of any application made by him under

this Scheme shall be disqualified for a period of five years from

benefiting from any scheme m ad e w ith th e ap proval o f the

Parliamentary Secretary responsible for housing.

(1) Any dwelling-house acquired under this Scheme shall

not be transferred under any title, other than causa mortis, by the

beneficiary unless he complies with the following provisions of this

clause.

(2) Where the beneficiary has taken a loan under the

provisions of clauses 11, 12 and 13 and the transfer is to take place

within ten years from the date of the first withdrawal on the loan,

the beneficiary shall, before the transfer 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 or other benefit received by the beneficiary as laid down in

the second column of Table B annexed to this Scheme depending

on the period after the first withdrawal on the loan account as

shown in the first column of the said Table.

(3) Where the beneficiary has taken a loan other than a loan as

mentioned in sub-clause (2) and the transfer of the dwelling-house

is to take place within thirteen years from the date of the first

withdrawal on the loan, the beneficiary shall, before transfer is

effected, pay to the Director and to the financial institution

approved by him under this Scheme, as the case may be, the whole

or part of the value of any subsidy or other benefit received by the

beneficiary as laid down in the second column of Table C annexed

to this Scheme depending on the period after the first withdrawal

on the loan account as shown in the first column of the said Table.

(4) Where the beneficiary has taken a loan as mentioned in

sub-clauses (2) or (3) and the transfer of the dwelling house is to

take place after ten or thirteen years respectively, as the case may

be, from the date of the first withdrawal on the loan, the beneficiary

shall give the Director one month’s notice of his intention to

transfer the said dwelling-house and the Director shall thereupon

terminate any arrangement for the subsidy under this Scheme of

any interests payable by the beneficiary.

Relief as provided in article 3(b) of the principal Act is

hereby granted on the death of the beneficiary, and where the

beneficiary is married at the time of the acquisition of the dwelling-

house, also on the death of the beneficiary’s spouse, in respect of

any dwelling-house acquired under the provisions of clause 11 or

12 and the provisions of article 6 of that Act shall therefore apply

thereto

Provided that the aforesaid relief shall only apply in

respect of the first sixteen thousand and three hundred and five

euros and sixty-one cents (€16,305.61) of the value of the dwelling-

house.

The right is hereby granted to register under the Housing

(Decontrol) Ordinance a dwelling-house acquired by a beneficiary

under the provisions of clause 11 or 12 and the provisions of article

7 of the principal Act shall therefore apply thereto.

The transfer of a dwelling-house to a beneficiary under this

scheme shall be exempt from the following duties under the Duty

on Documents and Transfers Act, hereinafter in this clause referred

to as "the Act", provided that the transfer takes place under the

provisions of clause 11 or 12 and the beneficiary thereby becomes

the absolute owner of immovable property for the first time

(a) 33% of the duty under Title II of Part III of the Act

chargeable on the deed of transfer of the dwelling-

house to the beneficiary;

(b) 33% of the duty under Title II of Part III of the Act

chargeable on the receipt of the payment of the price

or other consideration for the transfer of the dwelling-

house to the beneficiary.

(1) Any application under this Scheme shall be lodged

personally or by registered post by the applicant with the Director.

(2) Where any applicant under this Scheme fails to appear on

the promise of sale agreement or on the deed of sale or transfer, as

the case may be, when called upon to do so by the vendor or

transferor, his application shall be deemed to have been abandoned.

Notwithstanding anything contained in the foregoing

provisions of this Scheme, the Director shall have the right to

refuse any refusal application.

TABLE A

(Clause 10)

First Column

Second Column

Third Column

Value of Dwelling-House

Interest Rate

Maximum

in Euros

Percent

Subsidised Loan

0 - 5,000

2.00

4,000

5,001 - 6,000

2.20

4,200

6,001 - 7,000

2.40

4,400

7,001 - 8,000

2.60

4,600

8,001 - 9,000

2.80

4,800

HOME OWNERSHIP (ENCOURAGEMENT)

(SUBSIDY ON INTEREST ON HOUSE LOANS)

9,001 - 10,000

3.00

5,000

10,001 - 11,000

3.20

5,200

11,001 - 12,000

3.40

5,400

12,001 - 13,000

3.60

5,600

13,001 - 14,000

3.80

5,800

14,001 - 15,000

4.00

6,000

15,001 - 16,000

4.20

6,400

16,001 - 17,000

4.40

6,800

17,001 - 18,000

4.60

7,200

18,001 - 19,000

4.80

7,600

19,001 - 20,000

5.00

8,000

20,001 - 21,000

5.20

8,400

21,001 - 22,000

5.40

8,800

22,001 - 23,000

5.60

9,200

23,001 - 24,000

5.80

9,600

24,001 - 25,000

6.00

10,000

TABLE B

(Clause 18)

First Column

Second Column

Period in Years After first

Percentage of

Withdrawal on Loan Account

Value of

Subsidy or

other Benefit to

be Refunded

less than 4 ......................................................

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

5 or more but less than 6 .................................

6 or more but less than 7 .................................

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

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

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

TABLE C

(Clause 18)

First Column

Second Column

Period in Years After first

Percentage of

Withdrawal on Loan Account

Value of

Subsidy or

other Benefit to

be Refunded

less than 7 ......................................................

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

HOME OWNERSHIP (ENCOURAGEMENT)

(SUBSIDY ON INTEREST ON HOUSE LOANS)

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

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

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

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

12 or more but less than 13 .............................