Housing Development Agency Act, 2008
R 385
Housing Development Agency Act, 2008 (Act No. 23 of 2008)RegulationsHousing Development Agency RegulationsChapter 6 : Funding of priority housing development area27. Closure of a housing development |
| (1) | The development plan contemplated in regulation 25 must provide for a closing down strategy. |
| (2) | The closing down strategy, contemplated in subregulation (1), must address at least the following— |
| (a) | the continuation or non-continuation of the Agency's participation in the development; |
| (b) | the handing over procedures of identified responsibilities, authorities, functions and, where applicable, assets including buildings and services from one party to another, which relate to the housing development and the future management, ownership and control of the housing development after the closing down strategy event; |
| (c) | the financial implications regarding the closing down or handing over of the development, as contemplated in subregulation (2)(b) and the impact which such handing over process will have on the Agency, or the party taking over the respective roles, functions, duties and assets; and |
| (d) | any other aspect or circumstances required to be addressed |
