Withdrawal for payment of improvement contribution, etc., in respect of upgrading works
22.—(1) Subject to regulation 8, where a member is liable as the owner of a residential property to pay —
(a)
the improvement contribution due —
(i)
to the Housing and Development Board in respect of upgrading works carried out on the residential property under Part IVA of the Housing and Development Act (Cap. 129); or
(ii)
to a Town Council in respect of lift upgrading works carried out in relation to the residential property under Part IVA of the Town Councils Act (Cap. 329A);
(b)
where the improvement contribution is paid in monthly instalments, any interest imposed by the Housing and Development Board or the Town Council, as the case may be, on the improvement contribution mentioned in sub‑paragraph (a); or
(c)
any cost, fees or other incidental expenses arising from such works,
the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to the member’s credit in the Fund to be withdrawn by the member for the payment of any of the amounts mentioned in sub‑paragraphs (a), (b) and (c).
[S 650/2016 wef 01/01/2017]
(2) All moneys withdrawn from the Fund under this regulation shall be paid by the Board to the Housing and Development Board or a Town Council or such other persons as the Board thinks fit to receive such moneys.
(3) The total amount that may be withdrawn by a member under this regulation must not exceed the amounts mentioned in paragraph (1)(a), (b) and (c) as determined by the Board for the residential property.