   HOUSING AUTHORITY  ġ CAP. 261.        1
CHAPTER 261
 HOUSING AUTHORITY ACT
To provide for the establishment of a body corporate to be known as the
Housing Authority and for the exercise by or on behalf of that Authority of
functions relating to housing, residential and commercial accommodation
and related facilities and amenities; to provide for the transfer to that
Authority of certain properties; to make provision with respect to the
transfer of certain other assets; and to make provision with respect to
matters ancillary thereto or connected therewith.
(11th October, 1976) *
Enacted by ACT XV of 1976, as amended by Acts: XXV of 1977, XXIX of
1979, XLIII of 1986, XVIII of 1988, XXIV of 1995 and XVI of 1997.
Preliminary 
Short title.
Interpretation.  
Amended by: 
XXIX. 1979.3.
2. In this Act, unless the context otherwise requires -
"appointed day", in relation to section 12 of this Act, has the
meaning given to it by that section;
"Authority" means the Housing Authority established by section
3 of this Act;
"Chairman" means Chairman of the Authority and includes, in
the circumstances mentioned in subsection (2) of section 5 of this
Act, the deputy chairman or other person appointed to act as
chairman;
"the Company", in relation to section 20 of this Act, means the
company now known as Mid-Med Finance Corporation Limited †
formed by a memorandum and articles of association signed on
10th January, 1968 under the name of Barclays Finance
Corporation (Malta) Limited, and registered as a company with the
Registrar of Partnerships on the same date, the change of name
having taken effect on 1st October, 1975, by virtue of a resolution
taken by the Company on 29th September, 1975 and duly registered
with the said Registrar; and any reference to the Company, whether
in this Act or elsewhere, shall, for the purposes of this Act, include
a reference to the Company by whichever of the two names it is
referred to;
"financial year" means a period of twelve months ending on 30th
September;
"House" means the House of Representatives;
"immovable assets", in relation to section 12 of this Act, has the
meaning given to it by that section;
* See  subsection (2) of section 1 of this Act as originally enacted, which subsection has
been omitted under the Statute Law Revision Act, 1980 and Legal Notice 129 of 1976. 
†By resolution dated 9th March, 1977, the name has been changed to "Lohombus
Corporation Limited" with effect from 1st April, 1977.
  2      CAP. 261. ħ               HOUSING AUTHORITY 
"land" includes any buildings or other structures thereon;
"Minister" means the Minister responsible for housing; 
"operative date", in relation to section 20 of this Act, has the
meaning given to it by that section;
"the transferee", in relation to section 20 of this Act, has the
meaning given to it by that section;
"transferred loans", in relation to section 20 of this Act, has the
meaning given to it by that section.
Establishment, functions and conduct of affairs of the 
Authority
Establishment the 
Housing Authority.
  3.  (1) There shall be a body, to be known as the Housing
Authority.
(2) The Authority shall be a body corporate having a distinct
legal personality and shall be capable of entering into contracts, of
acquiring, holding and disposing of any property for the purpose of
its functions, of suing and being sued, and of doing all such things
and of entering into all such transactions as are incidental or
conducive to the performance of its functions under this Act.
Functions of the 
Authority. 
Amended by: 
XXV.1977.2; 
XLIII. 1986.2; 
XVIII. 1988.2.
4. (1) It shall be the function of the Authority to develop, to
promote and finance the development of, and to administer,
housing estates and other residential and commercial accommo-
dation and related facilities and amenities, to promote and finance
home ownership and generally to improve housing conditions in
Malta.
(2) Without prejudice to the generality of subsection (1) of this
section, the Authority may -
( a ) acquire, hold and administer, and in any manner
dispose of, any property both movable and immovable; 
( b ) develop, or cause the development of, any land for
residential and commercial purposes and for purposes
connected therewith or ancillary thereto;
( c ) finance the acquisition and the development of any
land, whether such acquisition or development is to be
made by the Authority or by others, including
individuals;
( d ) make any form of investment which the Authority may
deem proper or expedient;
( e ) make such payments, whether by way of subsidy or
otherwise which it may deem appropriate for any of
the purposes aforesaid and for any other purpose
related to its functions;
( f ) act by agreement with the Government as agent for
implementing, or in furtherance of, the policy of the
Government with respect to housing, including any
project or plan of the Government relating to housing;
   HOUSING AUTHORITY  ġ CAP. 261.        3
( g ) advise the Government, through the Minister, on any
matter relating to its functions or which a Minister
may from time to time refer to the Authority for
advice;
( h ) generally do all such things as may be incidental or
conducive to any of its functions or to the exercise of
any of its powers.
(3) The following provisions shall have effect with respect to
the functions and powers of the Authority:
( a ) where the function or power involves the development
of land by the erection or construction thereon of any
buildings or other works, the Authority may either act
through the agency of the Department of Works, or
may carry out such functions by means of a grant of
contracts of works;
( b ) in the administration of its immovable property, other
than the allocation thereof under any title and the
choice and designation of the person to whom it is to
be allocated, the Authority shall act through the
agency of the Land Department in respect of
immovable property situate in the Island of Malta and
through the agency of the Secretariat for Gozo Affairs
in respect of immovable property situate in the Islands
of Gozo and Comino;
( c ) any other function or power of the Authority may, with
the approval of the Prime Minister, and shall, if the
Prime Minister so directs, be performed or exercised
through the agency of a department of Government or
of any other body or person;
( d ) the performance or exercise of any function or power
of the Authority as provided in this subsection shall be
made under arrangements agreed between the
Authority and its agent and in accordance with such
directions as the Authority may from time to time give
to its agent.
(4) Notwithstanding any other law, where any function or
power of the Authority is performed or exercised through an agent
as provided in subsection (3) of this section, all judicial actions,
acts and proceedings arising from or relating to any matter in
respect of which an agent acts for and on behalf of the Authority
shall be taken or made by or against such agent in the name of the
Authority.
(5) For the purpose of carrying out any of its functions under
this Act, the Authority may, with the approval in writing of the
Minister given after consultation with the Minister responsible for
finance, borrow or raise money in such manner, from such person,
body or authority, and under such terms and conditions as the
Minister, after consultation as aforesaid, may in writing approve.
(6) The Minister responsible for finance may, after
consultation with the Minister, make advances to the Authority of
  4      CAP. 261. ħ               HOUSING AUTHORITY 
such sums as he may agree to be required by the Authority for
carrying out any of its functions under this Act, and may make such
advances on such terms and conditions as he may, after
consultation as aforesaid, deem appropriate. Any such advance may
be made by the Minister responsible for finance out of the
Consolidated Fund, and without further appropriation other than
this Act, by warrant under his hand authorising the Accountant
General to make such advance.
Conduct of the 
affairs of the 
Authority.
5. (1) The affairs and business of the Authority shall be the
responsibility of and shall be conducted by the Authority itself; but,
save as aforesaid and subject to the provisions of this Act and to
any directions of the Authority, the executive conduct of the
Authority, its administration and organization and the
administrative control of its officers and servants, shall be the
responsibility of the Chairman of the Authority, who shall also
have such other powers as may from time to time be delegated to
him by the Authority.
(2) The Authority shall consist of such number of members,
being not less than three, of whom one shall be appointed to be
Chairman of the Authority, as the Prime Minister may from time to
time appoint. The Prime Minister may also designate another
member of the Authority as deputy chairman, and the member so
designated shall have all the powers and perform all the functions
of the Chairman during his absence or inability to act as chairman,
or while he is on vacation, or during any vacancy in the office of
chairman; and the Prime Minister may also, in any of the
circumstances aforesaid, appoint another person to act as chairman
and in such case the foregoing provisions shall apply in respect of
such person.
Provisions with 
respect to the 
members of the 
Authority.
6. (1) The Prime Minister shall choose the members of the
Authority from among persons who appear to him to be qualified
by reason of having had experience of, and shown capacity in,
matters relating to housing or property development, banking,
finance, organization of workers or employees, industry, trade or
administration, and may also choose one or more members from
among public officers.
(2) A person shall be disqualified for appointment to, and from
remaining a member of, the Authority if he -
( a ) is a member of the House of Representatives; or 
( b ) has such a financial or other interest in any enterprise
or activity as is likely to affect prejudicially the
discharge by him of his functions as a member of the
Authority.
(3) Subject to the provisions of subsection (4) of this section,
the members of the Authority shall hold office for such period and
on such terms and conditions as the Prime Minister may deem
appropriate; and a member shall, on ceasing to be a member, be
eligible for re-appointment.
(4) A member of the Authority may resign his office by letter
   HOUSING AUTHORITY  ġ CAP. 261.        5
addressed to the Minister; and if during his tenure of office there is
a change in the person of the Prime Minister, every such member
shall tender his resignation to the new Prime Minister.
(5) A member of the Authority may be removed from office by
the Prime Minister if, in the opinion of the Prime Minister, such
member is unfit to continue in office or has become incapable of
properly performing his duties as a member; and the Prime Minister
shall terminate the appointment of any member in any of the
circumstances which disqualify such person from remaining a
member of the Authority.
(6) Any member of the Authority who has any direct or indirect
interest in any contract made or proposed to be made by the
Authority, not being an interest which disqualifies such member
from remaining a member, shall disclose the nature of his interest
at the first meeting of the Authority after the relevant facts have
come to his knowledge; such disclosure shall then be recorded in
the minutes of the Authority, and the member having an interest as
aforesaid shall withdraw from any meetings at which such contract
is discussed. Any such disclosure shall be communicated to the
Prime Minister without delay. Where the interest of the member is
such as to disqualify him from remaining a member, he shall report
the fact immediately to the Prime Minister and tender his
resignation.
Provisions with 
respect to meetings 
of the Authority.
7. (1) The meetings of the Authority shall be called by the
Chairman either on his own initiative or at the request of any two of
the other members. Without prejudice to the other requirements of
this Act, no decision of the Authority shall be valid which is not
supported by at least two members of the Authority.
(2) Half the number of members for the time being constituting
the Authority shall form a quorum at any meeting of the Authority.
Decisions shall be adopted by a simple majority of the votes of the
members present and voting. The Chairman, or other member
presiding at the meeting, shall have an initial vote and, in the event
of an equality of votes, a casting vote.
(3) In the absence of the Chairman at any meeting of the
Authority, the deputy chairman, or other person appointed to act as
chairman, or, if no other member or person has been designated or
appointed as such, a member of the Authority chosen for that
purpose by the other members present, shall preside at that meeting
of the Authority.
(4) Subject to the provisions of subsection (1) of this section,
no act or proceeding of the Authority shall be invalidated by reason
of any vacancy among the members. All acts done by any person
acting in good faith as a member of the Authority shall be valid as
if he were a member notwithstanding any defect in his appointment
or qualification; and no act or proceeding of the Authority shall be
questioned on the ground of the contravention by a member of any
of the provisions of subsection (6) of section 6 of this Act.
(5) Subject to the provisions of this Act, the Authority may
regulate its own procedure.
  6      CAP. 261. ħ               HOUSING AUTHORITY 
Legal 
representation of 
the Authority.
8. (1) Without prejudice to the provision of subsection (4) of
section 4 of this Act, the legal representation of the Authority shall
vest in the Chairman:
Provided that the Authority may appoint any one or more of
the other members, or of the officers or servants of the Authority,
to appear in the name and on behalf of the Authority in any judicial
proceedings and in any other act, contract, instrument or other
document whatsoever.
(2) Any document purporting to be an instrument made or
issued by the Authority and to be signed by the Chairman on behalf
of the Authority shall be received in evidence and shall, until the
contrary is proved, be deemed to be an instrument made or issued
by the Authority.
Relations between 
the Minister and 
the Authority.
9. (1) The Minister shall from time to time communicate to
the Authority the directions of the Cabinet as to the policy to be
followed by the Authority in carrying out its functions and in
exercising its powers under this Act. Such directions may be of a
general character in relation to matters that appear to the Cabinet to
affect the public interest generally and of a specific character in
matters that appear to the Cabinet to affect specific public interests,
in matters concerning the award of contracts, the disposal of
property and the granting of leases and other titles to property, in
matters affecting revenue and in all matters concerning payments
and expenditure generally, as well as in matters relating to the
implementation of the policies, plans or projects of the Government
relating to housing. The Authority shall give effect to all such
directions and shall conduct its affairs accordingly:
Provided that the question whether the Authority has in any
case acted in accordance with such directions shall not be enquired
into in any court.
(2) All directives communicated by the Minister to the
Authority under subsection (1) of this section shall be published in
the Gazette and a copy thereof shall be laid on the Table of the
House as soon as practicable.
(3) The Authority shall afford to the Minister facilities for
obtaining information with respect to the property and activity of
the Authority, and furnish him with returns, accounts and other
information with respect thereto, and afford him facilities for the
verification of information furnished, in such manner and at such
times as he may require. Copies of the minutes of the Authority
shall be forwarded to the Minister regularly and without delay.
Officers and 
servants of the 
Authority.
10. (1) The Authority may employ at such remuneration and
upon such terms and conditions as the Authority may, with the
approval of the Minister, determine, such officers and servants as
may from time to time be necessary for the due and efficient
exercise of its functions. The terms and conditions of employment
shall be comparable with those of employees in the service of the
Government.
(2) The officers and servants of the Authority shall not have
   HOUSING AUTHORITY  ġ CAP. 261.        7
any direct or indirect interest in any contract made or proposed to
be made by the Authority or in any enterprise which has or
proposes to have any business relations with the Authority, except
such interest as may be allowed under a scheme duly approved by
the Minister and applicable to the officers and servants of the
Authority generally.
(3) The Authority may, with the approval of the Minister given
after consultation with the Minister responsible for finance,
establish a scheme or schemes, whether by contributory or
noncontributory arrangements or partly by one and partly by the
other, for the payment to its officers and servants, or their
dependants, on their retirement, death or injury, of pensions,
gratuities and other like benefits.
Annual report.
end of each financial year, make and transmit to the Minister and to
the Minister responsible for finance a report dealing generally with
the activities of the Authority during that financial year and
containing such information relating to the proceedings and policy
of the Authority as either of the said Ministers may from time to
time require.
(2) The Minister shall cause a copy of every such report to be
laid on the Table of the House of Representatives as soon as
practicable.
Financial provisions
Transfer of 
immovable assets.
12. (1) The immovable assets from time to time specified in
an order made by the President of Malta and published in the
Gazette (hereinafter referred to as "the immovable assets") shall,
with effect from such day as may be specified in any such order
(hereinafter referred to as "the appointed day"), and by virtue of
this Act and without further assurance, be transferred to and vest in
the Authority under the same title by which they were held by the
Government before such day.
Cap. 88.
(2) Where in respect of any property or right comprised in the
immovable assets, any act, proceedings or other thing is in the
process of being done or is still operative immediately before the
appointed day under the provisions of the Land Acquisition (Public
Purposes) Ordinance, including any judicial act or other
proceeding, such act, proceedings or other thing may,
notwithstanding anything contained in this Act, be continued, and
any further acts, proceedings or things may be done, by the
competent authority, within the meaning of that Ordinance, in
accordance with the provisions of that Ordinance as if the property
to which they refer were to be acquired by that authority; but any
such acquisition shall be made by or in the name and for the benefit
of the Housing Authority.
(3) Any sums required to acquire any of the immovable assets,
or any part thereof, or any right in or over such assets, or to
discharge any liability to which they may be subject, and any sums
  8      CAP. 261. ħ               HOUSING AUTHORITY 
required to complete, ready for occupation, any of the immovable
assets which are still under construction or not completed as
aforesaid on the appointed day shall, unless different provision is
made in the estimates of the Authority as approved by the House of
Representatives, be paid to the Authority out of the Consolidated
Fund and shall be a charge on such Fund by virtue of this Act and
without further appropriation.
Estimates of the 
Authority.
13. (1) The Authority shall cause to be prepared in every
financial year, and shall not later than six weeks after the end of
each such year adopt estimates of the income and expenditure of
the Authority for the next following financial year.
(2) In the preparation of such estimates the Authority shall take
account of any funds and other moneys that may be due to be paid
to it out of the Consolidated Fund during the relevant financial
year, whether by virtue of this Act or of an appropriation act or of
any other law; and the Authority shall so prepare the said estimates
as to ensure that the total revenues of the Authority are at least
sufficient to meet all sums properly chargeable to its revenue
account, including, but without prejudice to the generality of that
expression, depreciation.
(3) The estimates shall be made out in such form and shall
contain such information and such comparisons with previous years
as the Minister responsible for finance may direct.
(4) A copy of the estimates shall, upon their adoption by the
Authority, be sent forthwith by the Authority to the Minister and to
the Minister responsible for finance.
(5) The Minister shall, at the earliest opportunity and not later
than six weeks after he has received a copy of the estimates from
the Authority (or if at any time during that period the House is not
in session within six weeks from the beginning of the next
following session), cause such estimates to be laid before the
House together with a motion that the House approves the said
estimates. Not less than one sitting shall be allotted for the debate
in the House on such a motion; and both the motion and the
approval of the estimates by the House may be with or without
amendments to the estimates.
Expenditure to be 
according to 
approved 
estimates.
14. (1) No expenditure shall be made or incurred by the
Authority unless it has been approved by the House as provided in
section 13 of this Act.
(2) Notwithstanding the provisions of subsection (1) of this
section -
( a ) until the expiration of six months from the beginning
of a financial year, or until the approval of the
estimates for that year by the House, whichever is the
earlier date, the Authority may make or incur
expenditure for carrying on its functions under this Act
not exceeding in the aggregate one-half of the amount
approved by the House for the preceding financial
year;
   HOUSING AUTHORITY  ġ CAP. 261.        9
( b ) expenditure approved in respect of a head or sub-head
of the estimates may, with approval of the Minister
given after consultation with the Minister responsible
for finance, be made or incurred in respect of another
head or sub-head of the estimates;
( c ) in respect of the first financial year, the Authority may
make or incur expenditure until the approval of the
estimates for that year by the House not exceeding in
the aggregate such amounts as the Minister responsible
for finance may, after consultation with the Minister,
allow;
( d ) if in respect of any financial year it is found that the
amount approved by the House is not sufficient or a
need has arisen for expenditure for a purpose not
provided for in the estimates, the Authority may adopt
supplementary estimates for approval by the House
and, pending such approval but subject to its being
given, may, with the approval of the Minister
responsible for finance given after consultation with
the Minister, incur the relative expenditure or such
part thereof as the said Minister may so approve; and
in any such case the provisions of this Act applicable
to the estimates shall as near as practicable apply to
the supplementary estimates.
Publication of 
approved 
estimates.
15. All estimates and supplementary estimates of the Authority
approved by the House shall, as soon as practicable, be published in
the Gazette.
Accounts and 
audit.
Amended by:
XVI.1997.8.
16. (1) The Authority shall cause to be kept proper accounts
and other records in respect of its operations, and shall cause to be
prepared a statement of accounts in respect of each financial year.
(2) The accounts of the Authority shall be audited by an auditor
or auditors to be appointed by the Authority and approved by the
Minister:
Provided that the Minister responsible for finance may, after
consultation with the Minister, require the books and accounts of
the Authority to be audited or examined by the Auditor General
who shall for the purpose have the power to carry out such physical
checking and other verifications as he may deem necessary.
(3) After the end of each financial year, and not later than the
date on which the estimates of the Authority are forwarded to the
Minister under section 13 of this Act, the Authority shall cause a
copy of the statement of accounts duly audited to be transmitted to
he Minister and to the Minister responsible for finance together
with a copy of any report made by the auditors on that statement or
on the accounts of the Authority.
(4) The Minister shall cause a copy of every such statement and
report to be laid before the House of Representatives together with
the motion laid before the House under section 13 of this Act.
  10      CAP. 261. ħ               HOUSING AUTHORITY 
Deposit of 
revenues and 
payments by the 
Authority.
17. (1) All moneys accruing to the Authority shall be paid into
a bank or banks appointed as bankers of the Authority by a
resolution of the Authority. Such moneys shall, as far as
practicable, be paid into any such bank from day to day, except
such sum as the Authority may authorise to be retained to meet
petty disbursements and immediate cash payments.
(2) All payments out of the funds of the Authority, other than
petty disbursements not exceeding a sum fixed by the Authority,
shall be made by such officer or officers of the Authority as the
Authority shall appoint or designate for that purpose.
(3) Cheques against and withdrawals from any bank account of
the Authority shall be signed by such officer of the Authority as
may be appointed or designated by the Authority for that purpose
and shall be countersigned by the Chairman or such other member
or officer of the Authority as may be authorised by the Authority
for that purpose.
(4) The Authority shall also make provision with respect to -
( a ) the manner in which and the officer or officers by
whom payments are to be authorised or approved;
( b ) the title of any account held with the bank or banks
into which the moneys of the Authority are to be paid,
and the transfer of funds from one account to the other;
( c ) the method to be adopted in making payments out of
funds of the Authority,
and generally with respect to any matter which is relevant to the
proper keeping and control of the accounts and books, and the
control of the finances, of the Authority.
Contracts of supply 
of works.  Amended 
by: 
XIII. 1983.5.
18. Without prejudice to any directions communicated by the
Minister under subsection (1) of section 9 of this Act, the Authority
shall not, except with the approval of the Minister granted for
special reasons and after consultation with the Minister responsible
for finance, award or enter into any contract for the supply of goods
or materials or for the execution of works, to or for the benefit of
the Authority, which is estimated by the Authority to exceed three
thousand liri in value except after notice of the intention of the
Authority to enter into the contract has been published and
competitive tenders have been issued.
Exemption from 
taxation.
19. The Authority shall be exempt from any liability for the
payment of income tax, duty on documents and customs duty under
any law for the time being in force.
Miscellaneous 
Transferred loans. 20. (1) Where a public deed is entered into between the
Company and another company or other body corporate designated
in writing by the Minister responsible for finance as the designated
transferee for the purposes of this section (such company or body
being hereinafter referred to as "the transferee") and such deed
transfers or purports to transfer to the transferee any loans or
advances made by the Company, and specified in the deed whereby
   HOUSING AUTHORITY  ġ CAP. 261.        11
they are or are purported to be, transferred by an indication of the
name of the debtor and the date of, and name of the notary
executing, the deed whereby the relative loan or advance was made
(such loans and advances being in this Act referred to as "the
transferred loans"), the deed entered into as aforesaid between the
Company and the transferee shall, with effect from the date on
which such transfer is by the deed to become operative (in this Act
referred to as "the operative date"), effect the transfer to the
transferee of all such loans and advances, and - 
( a ) such transfer shall effect also the transfer of all rights,
real and personal, relating to the transferred loans,
including any privilege, hypothec, pledge or other
security whatsoever, as well as any rights against
sureties, and in regard to third parties such transfer
shall have effect upon the registration in the Public
Registry of the public deed effecting such transfer by
means of a note containing the designation of the
parties to the deed and the date and nature of such
deed, without any further compliance with any other
requirement of law;
( b ) the transfer of any right, liability or other obligation as
aforesaid - 
(i) shall not operate as a novation in any such right,
liability or obligation and any such right,
liability or obligation shall continue to have
effect as if there were no change in the holder,
creditor or debtor thereof, and as if they had
always been rights, liabilities or obligations of,
or in favour or in respect of, the transferee;
(ii) shall not operate as a breach of covenant or
condition, whether statutory or contractual, or
give rise to any forfeiture;
(iii) shall not give rise to the payment of any
premium or penalty, or to any other payment
whatsoever; 
(iv) shall not invalidate, release from or discharge
any contract or security;
( c ) every contract relating to the transferred loans in force
on the operative date and to which the Company is a
party shall, on and after that date, continue to have
effect and be construed as if - 
(i) the transferee had been a party thereto instead of
the Company;
(ii) for any reference (however worded and whether
expressed or implied) to the Company there
were substituted, as respects anything falling to
be done on or after the operative date, a
reference to the transferee;
(iii) for any reference (however worded and whether
expressed or implied) to the directors, or to a
director, officer or servant of the Company there
  12      CAP. 261. ħ               HOUSING AUTHORITY 
were substituted, as respects anything falling to
be done on or after the operative date, a
reference to the directors, or to a director, officer
or servant of the transferee, or the equivalent
thereof, as the case may require,
and the provisions of sub-paragraphs (ii) and (iii) of
this paragraph shall apply to any other contract or
document (including any note entered in the Public
Registry) relating to the transferred loans as in force
on the operative date as they apply in relation to a
contract to which the Company is a party;
( d ) every account relating to the transferred loans between
the Company and any other person shall, on and after
the operative date, become an account between the
transferee and that other person subject to the same
terms, conditions and incidental matters as applied
before that date, and any such account shall be deemed
for all purposes to be a single continuing account;
( e ) any instruction, direction, mandate, power of attorney,
authority or consent given to the Company in relation
to the transferred loans, as in force immediately before
the operative date, shall continue to have effect, on
and after that date, as if given to the transferee;
( f ) any security transferred to the transferee which
immediately before the operative date was held by the
Company as security for the payment or discharge of
any debt, liability or obligation shall, on and after the
operative date, be held by and be available to the
transferee as security for the payment or discharge of
such debt, liability or obligation; and any such security
which extends to future advances or liabilities shall, on
and after the operative date, be held by and be
available to the transferee as security for future
advances by and future liabilities to the transferee in
the same manner in all respects as future advances by
or future liabilities to the Company were secured
thereby before that date;
( g ) any judgment or award obtained by or against the
Company in relation to the transferred loans before the
operative date and not fully satisfied on that date shall,
on and after that date, be enforceable by and against
the transferee.
(2) Nothing in subsection (1) of this section shall preclude the
notary receiving the deed whereby the transferred loans are
transferred to the transferee from entering in any appropriate
register at the Public Registry or in any note registered or enrolled
in that Registry such reference or other annotation as may be
appropriate in the circumstances.
   HOUSING AUTHORITY  ġ CAP. 261.        13
Member of 
Parliament not to 
act as advocate, 
etc., against the 
Authority.
21. Repealed by XXIV. 1995.360.
