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25 1950

HOUSING (AMENDMENT) ACT, 1950

PART VII.

Acquisition of Small Dwellings.

Definition of market value.

32. —The market value of a house for the purposes of section 1 of the Act of 1899 shall be—

(a) in the case of a house occupied or to be occupied for the first time, the amount which, in the opinion of the local authority, represents the reasonable cost of building the house, including so much, if any, of the legal and other expenses incidental thereto or to the acquisition of the tenement upon which the house is built or to be built, as the local authority may consider proper, but not including any fine, premium or other consideration for the acquisition of the leasehold interest in such tenement.

(b) in any other case, the amount which, in the opinion of the local authority, the house if sold in the open market might reasonably be expected to realise.

Estimation of market value.

33. —For the purposes of section 1 of the Act of 1899, the market value of a house may be estimated at the time when the plans of the house have been submitted by the applicant or by the builder to the local authority.

Minimum contribution by applicant for loan.

34. —An advance shall not be made under section 1 of the Act of 1899 unless the applicant contributes towards the purchase price or the cost of building at least five per cent. of the market value of the house, exclusive of a grant under any enactment.

Relinquishment of powers by urban district council.

35. —The council of an urban district which has adopted the Small Dwellings Acquisition Acts in accordance with section 9 of the Act of 1899 may, on such terms as may be agreed upon between the council and the council of the county, by resolution relinquish its powers, rights and liabilities under those Acts in favour of the council of the county, and, in that case, the powers, rights and liabilities so relinquished shall cease and the provisions of those Acts shall have effect as if the council of the urban district had not passed a resolution under section 9 of the Act of 1899.

Advances to joint proprietors.

36. —To resolve any doubts that may exist it is hereby declared that an advance under the Small Dwellings Acquisition Acts, 1899 to 1950, may be made to joint proprietors or owners and the said Acts shall be interpreted and administered accordingly.

Regulations for purposes of Small Dwellings Acquisition Acts, 1899 to 1950.

37. —The Minister may make regulations for the purposes of the Small Dwellings Acquisition Acts, 1899 to 1950.