S.L. 328.3 Art. 9Transfer by the beneficiary.

(1) Any dwelling-house purchased 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 transfer is to take place within ten years from the date of the deed of sale concluded with the Authority the beneficiary shall, before the transfer is effected, pay to the Authority and the financial institution approved by it under this Scheme, as the case may be, the whole or part of the value of any subsidy and of any amount deducted from the free market value of the dwelling-house under this Scheme as laid down in the second column of Table C annexed to this Scheme.

(3) Where the transfer of the dwelling-house purchased under this Scheme is to take place after ten years from the date of the publication of the deed of sale concluded with the Authority, the beneficiary shall not make any payment as provided in sub-clause

(2) but shall give the Authority one month’s notice of his intention to transfer the said dwelling-house and the Authority shall thereupon terminate any arrangement for the subsidy under this Scheme of any interests payable by the beneficiary.