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2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

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13. Matter to be contained in mortgage where application for Authority's guarantee thereof

(1) Subject to the provisions of sections 12 and 13 of the Act, every mortgage produced to the Authority for the purpose of obtaining the Authority's guarantee under an undertaking shall satisfy the provisions of this regulation.

(2) The interest of the mortgagor subject to the mortgage shall be, either—
1. (a) the ownership of the land on which the dwelling house stands; or
1. (b) a lease of land and which lease is due to expire at least 2 years after the date when the last of the amortization payments becomes due.

(3) The mortgage shall be a first charge upon the property mortgaged.

(4) The mortgage shall bear interest at a rate approved by the Authority which, when consolidated with—
1. (a) the prescribed rate prevailing at the date of the execution of the mortgage in respect of mortgage insurance; and
1. (b) the maximum rate in respect of a service charge prescribed by subregulation (6)(b),

does not exceed an interest rate of 8% per annum calculated on the principal sum in the manner approved by the Authority.

(5) The mortgage shall contain provisions satisfactory to the Authority for—
1. (a) the complete amortization calculated in the manner approved by the Authority under subregulation (4) but payable by monthly instalments of the principal sum, interest and other sums, if any, payable under subregulation (6) secured within a period of not more than 25 years from the date of guarantee nor more than 3/4 of the Authority's estimate of the economic life of the building, whichever is the less;
1. (b) the insurance by the mortgagor of the building against fire and such other hazards as the Authority may stipulate, and in such amount and with such insurance company as the Authority may approve;
1. (c) equal monthly payments by the mortgagor of such an amount as will discharge the ground rent, if any, and the estimated amount of all rates, taxes, and other special assessments, if any, and fire and other hazard insurance premiums within a period ending on the interest payment date immediately prior to the date on which such rent, assessments or premiums, as the case may be, shall become due and owing;
1. (d) the adjustment of the monthly payments referred to in paragraph (c) in case the estimated amount of such taxes, assessments and insurance premiums shall prove to be or shall become more or less than the actual amount thereof so paid by the mortgagor;
1. (e) requiring the consent of the Authority, so long as it is liable under the guarantee, to the assignment or conveyance by the mortgagor to a third person of his or her interest in, the mortgaged property.

(6) In addition to the interest permitted under subregulation (4) the mortgage shall provide—
1. (a) for payment by the mortgagor on or before the execution of the approved mortgage of a sum equal to the first annual insurance fee payable by the mortgagee under section 14 of the Act and, thereafter, so long as the Authority is liable under the guarantee, for equal monthly payments by the mortgagor of such an amount as will provide for each subsequent annual insurance fee within a period ending on the interest payment date immediately prior to the date on which each such insurance fee shall become due and payable by the mortgagee; but where such a provision is contained in the mortgage, there shall be inserted a condition permitting the adjustment of the mortgage account in case the monthly payments shall be more, or less, than the annual insurance fee in respect of which they are made;
1. (b) for monthly payments by the mortgagor of a service charge at a rate not exceeding the rate of 1% per annum of the balance of the principal sum for the time being owing under the mortgage;
1. (c) for such other matters as the Authority may approve.

(7) The mortgage shall contain a provision permitting the mortgagor, on the expiration of 2 years after the mortgage was executed, and upon giving 30 days notice in writing and paying such additional charges as may be agreed upon by the parties to the mortgage, to discharge the balance for the time being outstanding, or any part thereof amounting to the sum of either $480 or $500 (at the option of the mortgagee) or any multiple thereof, on the day when payment of interest is due.

13. Matter to be contained in mortgage where application for Authority's guarantee thereof

PART 1 PRELIMINARY

45. Short title

2. Interpretation

PART 2 ESTABLISHMENT, CONSTITUTION, MANAGEMENT AND STAFF

3. Establishment of the Corporation

4. Board of Directors

5. Procedure and meetings of Board

6. Conflict of interest

7. Disclosure of interest and abstention from voting

8. Remuneration of members

9. Appointment of Managing Director

10. Appointment of staff

11. Establishment and maintenance of pension scheme

12. Appointment of committees

13. Service of notices

14. Protection of Corporation and its officers

15. Power of Minister to issue directions

PART 3 FUNCTIONS AND POWERS

16. Functions of Corporation

17. Powers of Corporation in relation to unfit building

18. Powers of Corporation in relation to abandoned objects

19. Power to make arrangements

PART 4 SETTLEMENT CLEARANCE, UPGRADING AND REDEVELOPMENT SCHEME

20. Power to secure settlement clearance

21. Duty to secure redevelopment

22. Plans to be sent to the Minister

23. Local body affected by scheme to be notified

24. Approval of scheme by Minister

25. Notification of approval of scheme

26. Corporation to implement scheme

27. Slum clearance and re-development by owner of land and buildings

28. Demolition order

29. Use of land under demolition order

30. Power of Corporation to seek information

PART 5 ACQUISITION AND COMPENSATION

31. Acquisition of property by Corporation

32. Assessment of compensation

33. Power to pay allowances to displaced persons

PART 6 FINANCIAL PROVISIONS

34. Funds and resources of Corporation

35. Application and investment of funds

36. Accounts and audit

37. Annual report

38. Borrowing powers

39. Guarantee of borrowings of Corporation

PART 7 TRANSITIONAL PROVISIONS

40. Transfer of assets and liabilities

41. Transfer of officers

42. Limitation of time for legal actions

PART 8 MISCELLANEOUS PROVISIONS

43. Recovery of rent

45. Conditions regarding the letting of houses

46. Minutes receivable in evidence

47. Power of entry

48. Vesting of lands

49. Regulations

SUBSIDIARY LEGISLATION

Saint Lucia Housing Authority Regulations – Section 49 (Statutory Instrument 33/1967)

2. Interpretation

3. Application for certificate of exemption

4. Registration as a trader

5. Persons who may be registered

6. Cancellation of registration

7. Separate accounts to be kept by builder

8. Approval of mortgagees

9. Application for guarantee of Authority

10. Manner of undertaking guarantee by Authority

11. Circumstances in which guarantee may be entered into

12. Circumstances in which application under regulation 9 must not be approved

13. Matter to be contained in mortgage where application for Authority's guarantee thereof

14. Aggregate Monthly payment

15. Sums payable by mortgagor to mortgagee before mortgage executed

16. Consent of Authority necessary before execution of alterations or improvements

17. Mortgagee to inform Authority of failure of mortgagor to perform covenants

18. Condition of guarantee

19. Restrictions on exercise of power of sale

20. Circumstances in which guarantee becomes void

21. Effect of assignment of mortgage debt by an approved mortgagee

22. Reasonable care to be exercised by approved mortgagee

23. Expression of mortgage in foreign currency

24. Mortgage Insurance fee

PART 2 DIRECT LOANS

25. Term of direct loans

26. Interest rate applicable to direct loans

27. Applicant to prove loan unavailable from approved mortgagees

28. Provision of borrower's equity

28. Provision of borrower's equity

29. Establishment of firm age limits

30. Loans not normally to be made if applicant spouse owns a house

31. Matters to be considered in determining amount of loan

32. Form in which direct loans to be made

33. Particulars to be supplied to Authority if so required

34. Deviation from plans or specifications prohibited

35. Nature of land in respect of which loans made

36. Loans for acquisition, erection, repair, of houses

37. Condition of loans and power of Authority where premiums unpaid

38. Attorney General to be Solicitor of Authority Fees

39. Memorandum of charge

40. Memorandum of discharge

41. Progress advances

42. Sums payable by employees

43. Authority deemed to be an approved mortgageE

Housing (Income Tax Exemption) Regulations – Section 49 (Statutory Instrument 36/1967)

2. Tax free interest rate

Saint Lucia National Housing Corporation (La Ressource, Vieux Fort) Vesting Order – Section 48(3) (Statutory Instrument 50/2002)

2. Vesting of land

Saint Lucia National Housing Corporation (Beausejour, Gros Islet) Vesting Order – Section 48(3) (Statutory Instrument 70/2002)

2. Vesting of land

Saint Lucia National Housing Corporation (Urban Castries, Gros Islet, Vieux Fort and Praslin) Vesting Order – Section 48(1) (Statutory Instrument 103/2002)

2. Vesting of land

Saint Lucia National Housing Corporation (Karibelle) Vesting Order –Section 48(3) (Statutory Instrument 107/2002)

2. Vesting of land

Saint Lucia National Housing Corporation (Urban Castries) Vesting Order – Section 48(2) (Statutory Instrument 120/2002)

2. Vesting of lands

Saint Lucia National Housing Corporation (Carellie) Vesting Order – Section 48 (Statutory Instrument 13/2004)

2. Vesting of land

Saint Lucia National Housing Corporation (Cresslands, Soufriere) Vesting Order – Section 48 (Statutory Instrument 87/2005)

2. Vesting of land

Saint Lucia National Housing Corporation (La Pearle) Vesting Order – Section 48(3) (Statutory Instrument 183/2007)

2. Vesting of land

Saint Lucia National Housing Corporation (Monchy) Vesting Order – Section 48 (Statutory Instrument 84/2009)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource – Vieux Fort) Vesting Order – Section 48(3) (Statutory Instrument 123/2009)

2. Vesting of Lands

Saint Lucia National Housing Corporation (Union Industrial Estate) Vesting Order – Section 48(2) (Statutory Instrument 60/2010)

2. Vesting of Land

Saint Lucia National Housing Corporation (Fayole Estate) Vesting Order – Section 48(2) (Statutory Instrument 61/2010)

2. Vesting of Land

Saint Lucia National Housing Corporation (La Ressource – Vieux Fort) Vesting Order – Section 48(3) (Statutory Instrument 68/2010)

2. Vesting of Lands

Saint Lucia National Housing Corporation (Marigot) Vesting Order – Section 48(2) (Statutory Instrument 29/2011)

2. Vesting of land

Saint Lucia National Housing Corporation (Monchy) (No. 2) Vesting Order – Section 48 (Statutory Instrument 53/2011 and 13/2012)

2. Vesting of land

Saint Lucia National Housing Corporation (River Doree) Vesting Order – Section 48(2) (Statutory Instrument 32/2012)

2. Vesting of land

Saint Lucia National Housing Corporation (Marigot) Vesting Order – Section 48(2) (Statutory Instrument 43/2012)

2. Vesting of Land

Saint Lucia National Housing Corporation (La Ressource – Vieux Fort) Vesting Order – Section 48(2) (Statutory Instrument 27/2013)

2. Vesting of land

Saint Lucia National Housing Corporation (Fond Assau) Vesting Order – Section 48(2) (Statutory Instrument 39/2013)

2. Vesting of land

Saint Lucia National Housing Corporation (Bisee) Vesting Order – Section 48(2) (Statutory Instrument 40/2013)

2. Vesting of land

Saint Lucia National Housing Corporation (Ciceron) Vesting Order – Section 48(2) (Statutory Instrument 41/2013)

2. Vesting of land

Saint Lucia National Housing Corporation (Forestierre) Vesting Order – Section 48(2) (Statutory Instrument 42/2013)

2. Vesting of land

Saint Lucia National Housing Corporation (Monchy) Vesting Order – Section 48(2) (Statutory Instrument 76/2014)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 2/2015)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource – Vieux-Fort) (No. 2) Vesting Order – Section 48(2) (Statutory Instrument 118/2015)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 38/2017)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) Vesting (No. 2) Order – Section 48(3) (Statutory Instrument 39/2017)

2. Vesting of land

Saint Lucia National Housing Corporation (Doe Carmel, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 102/2017)

2. Vesting of land

Saint Lucia National Housing Corporation (Doe Carmel, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 81/2018)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 82/2018)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) (No. 2) Vesting Order – Section 48(3) (Statutory Instrument 85/2018)

2. Vesting of land

Saint Lucia National Housing Corporation (Derriere Morne, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 89/2018)

2. Vesting of land

Saint Lucia National Housing Corporation (Forrestiere, Castries) Vesting Order – Section 48(2) (Statutory Instrument 33/2019)

2. Vesting of land

Saint Lucia National Housing Corporation (The Union Industrial Estate at Postlewaithe, Gros Islet) Vesting Order – Section 48(3) (Statutory Instrument 137/2019)

2. Vesting of land

Saint Lucia National Housing Corporation (Bois d'Orange Development Project) Vesting Order – Section 48(2) (Statutory Instrument 69/2020)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) Vesting Order – Section 48(3) (Statutory Instrument 192/2020)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux-Fort) (No. 1) Vesting Order – Section 48(3) (Statutory Instrument 104/2022)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux Fort) (No. 2) Vesting Order – Section 48(3) (Statutory Instrument 105/2022)

2. Vesting of land

Saint Lucia National Housing Corporation (Micoud) Vesting Order – Section 48(2) (Statutory Instrument 125/2022)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux Fort) (No. 3) Vesting Order – Section 48(3) (Statutory Instrument 140/2022)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux Fort) (No. 5) Vesting Order – Section 48(3) (Statutory Instrument 204/2022)

2. Vesting of land

Saint Lucia National Housing Corporation (La Ressource, Vieux Fort) Vesting Order – Section 48(2) (Statutory Instrument 48/2023)

2. Vesting of land