S.L. 328.2 ст. 10Subsidisation of interest.

(1) Subject to the following provisions of this clause, the Director shall subsidise the interests payable on a loan made in accordance with this Scheme so that the interests payable by the applicant whose application has been approved shall be at the rate shown in the second column of Table A annexed to this Scheme up to the maximum limit shown in the third column of the said Table and according to the value of the dwelling-house, as may be determined by the Director, shown in the first column of the same Table.

(2) Where the application is made by persons engaged to each other or by an unmarried person in accordance with the provisions of this Scheme, the rate of interest otherwise payable by the applicant under the provisions of sub-clause (1) shall be increased by 1% if the application is approved: Provided that where the persons engaged to each other subsequently marry each other or where the unmarried applicant subsequently becomes married, the rate of interest payable under this sub-clause may, upon an application accompanied by a copy of the act of marriage from the Public Registry, be reduced by 1%.

(3) Where the dwelling-house in respect of which the application is made is the ordinary residence of the applicant and his family consisting of five or more members, including the applicant, the rate of interest otherwise payable by the applicant under the provisions of sub-clause (1) shall be reduced by 0.5%.

(4) Where at the time of the application the dwelling-house in respect of which the application is made is the ordinary residence of the applicant and his family which consists of less than five members including the applicant but the number of members in the family subsequently increases to five or more the rate of interest may, upon application, be reduced as provided in sub-clause (3) with effect from the date that the next payment of interest is due.

(5) The Director shall have the right to determine the market value of the dwelling-house mentioned in sub-clause (1) in the manner provided in clause 6(6) and in that case the value so determined and approved by the Director shall be the value of the said dwelling-house for the purposes of this clause.