Definitions
2.—(1)  In these Regulations, unless the context otherwise requires —
“loan” means a loan obtained by a member to finance or re-finance in whole or in part the purchase of a property, including the payment of any costs, fees, stamp duties or other incidental expenses incurred in obtaining the loan for the financing or re-financing in whole or in part of such purchase;
“mortgage” includes any charge on any property for securing the repayment of any money lent to a person;
“property” means any building or part of a building or any flat which is permitted pursuant to any written law to be used for any commercial or industrial purpose or any such building or flat which is in the course of erection but does not include any temporary building;
“temporary building” means a building which is permitted by the Building Authority under the Building Control Act (Cap. 29) to be erected or to remain for a specified period at the expiration of which the building shall be demolished and includes a building erected, in the opinion of the Board, with materials either wholly or in part which are in the absence of special care, liable to rapid deterioration or are otherwise unsuitable for the erection of a permanent building.
(2)  A reference in these Regulations to the purchase of a property includes a purchase made under an agreement for the sale and purchase of the property where title to the property will be conveyed, transferred or assigned to the purchaser on payment of the full purchase price.