Housing Development Account definition

Housing Development Account means an account opened and maintained by a licensed housing developer pursuant to section 7A;
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Housing Development Account means the Housing Development Account opened and maintained under section 12 of the Ordinance;
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Housing Development Account means an account opened and maintained by a licensed housing developer pursuant to section7a;
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Examples of Housing Development Account in a sentence

  • Withdrawals from the Housing Development Account are restricted to property development expenditure incurred in respect of the specific development project.

  • Withdrawals from the Housing Development Accounts are restricted in accordance with the Housing Development (Housing Development Account) Regulations 1991.

  • CORPORATE GOVERNANCEReceivables, amounts due from subsidiaries, cash held under Housing Development Account and bank balances, deposits and cash are financial assets with fixed or determinable payments that are not quoted in an active market.

  • Cash and cash equivalents consist of cash on hand, balances and deposits with banks including the accounts maintained pursuant to the Housing Development (Housing Development Account) Regulations 1991, and highly liquid investments which have an insignificant risk of changes in fair value with original maturities of three months or less, and are used by the Group and the Company in the management of their short term commitments.

  • This regulation is to be read together with section 7A of the parent Act where all monies received by the developer from the sale of housing accommodation in the housing development shall be paid into the Housing Development Account (Regulation 7A(3)).

  • The management of the Housing Development Account is specifically laid down in the Housing Development (Account) Regulations, 1991.

  • It is provided in the regulations that all monies in the Housing Development Account may be withdrawn when the housing development has been completed; and the solicitor for the developer has certified that the obligations of the developer in respect of transfer of all titles under the sale and purchase agreements in that housing development have been fulfilled (Regulation 11).

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  • Section 7A of the HDA requires a developer to open and maintain a Housing Development Account for his housing project.

  • Subject to the Banking and Financial Institutions Act 1989 and the Islamic Banking Act 1983, the Minister may, if he thinks necessary, appoint an approved company auditor to investigate the books, accounts and transactions of a Housing Development Account and the licensed housing developer shall pay all expenses incurred hereto.


More Definitions of Housing Development Account

Housing Development Account means an account opened and maintained by a licensed housing developer pursuant to section 7A; "housing lot" means any piece of land surveyed or otherwise, to which a lot number has been assigned to it and which is subject to the category "building" in accordance with the National Land Code 1965 [Act 56 of 1965];
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Related to Housing Development Account

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Investment Project means an investment in qualified buildings

  • Redevelopment Property means a property owned by the Company or a Consolidated Subsidiary (a) where the commenced leased square footage is less than 60% of the sum of net rentable square feet and redevelopment space, with reasonable adjustments to leased square footage determined in good faith by the Company, including adjustments for available power, required support space and common area and (b) that the Company reasonably characterizes as held in whole or in part for redevelopment.

  • Redevelopment Plan means the “Lincoln Center Redevelopment Plan” passed, adopted and approved by the City pursuant to the Resolution, and shall include any amendment of said Redevelopment Plan heretofore or hereafter made by the City pursuant to law.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis- St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the Development in accordance with the application and/or any subsequent reserved matters approval.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Improvement Fund means the Improvement Fund for General Obligation Temporary Notes, Series 2017-1 created pursuant to Section 501 hereof.