CONFIDENTIAL
HOUSING BRANCH PROGRESS REPORT 1st May, 1978 to 31st July, 1978
PART I
Subject
Home Ownership: Statutory powers for the Housing Authority.
Furpose
Do empower the authority to build, sell and manage Home ownership flats.
Frogress Made and Present Fosition
The Housing (Amendment) (No.2) Bill 1978 was enacted on 11th May 1978.
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home Üwnership: Stamp Duty.
To make conveyances on sale uxecuted by the Housing Authority to be liable to stamp duty.
The stamp (Amendment) (No.4) 3ill 1978 was enacted on 8th June 1978.
Procedures for calculating and collecting stamp duty have been worked out and agreed among departments.
To collect stamp duty from purchasers of Home Ownership flats.
Home Ownership: Conveyancing Documents.
To define the rights,
interests and obligations
After much discussion, the final drafts of the conveyancing documents
of vender and buyer and of viz. the agreement, the Terms and owners among themselves.
Conditions of sale and Purchase, the Deed of Mutual Covenant and the Deed of assignment were agreed, printed and translated in time for the sale of Home Ownership flats.
CONFIDENTIAL ##
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