“Housing and Development Board” means the Housing and Development Board established under the Housing and Development Act (Cap. 129);
“housing loan” means a loan —
(a)
obtained by a member to finance or re-finance the purchase of a residential property; or
(b)
to make full or periodic payments towards the repayment of a mortgage on any residential property inherited by a member if the mortgage was obtained solely for the purchase of that residential property;
[S 106/2001 wef 01/03/2001]
“mortgage” includes any charge on any residential property for securing the repayment of any money lent to any person;
“residential property” means any house or flat which is permitted to be used pursuant to any written law as a dwelling-house and any such house or flat which is in the course of being constructed;
“Town Council” means a Town Council established under the Town Councils Act (Cap. 329A).