S.L. 328.2 ст. 16Effects of dissolution of engagement on joint applications by engaged persons.

(1) In the case of a joint application by engaged persons, where the engagement is subsequently dissolved:

(a) both applicants shall, within thirty days from the date of such dissolution, give notice thereof to the Director;

(b) the Director shall immediately suspend the subsidy on the interest rate and any further withdrawals on the loan account pending investigations and his final decision thereon;

(c) the applicants shall, within thirty days from the date of the notice mentioned in paragraph (a) and in accordance with and subject to the conditions laid down in the provisions of clause 18, jointly request in writing authority to transfer under a title of sale or perpetual emphyteusis the dwelling-house in respect of which their application had been approved;

(d) the applicants shall, within three months from the date of the approval of their request made according to paragraph (c), transfer the said dwelling-house as aforesaid: Provided that the Director may extend the mentioned period of three months as he may deem fit.

(2) Where the applicants fail to comply with the provisions of sub-clause (1)(a), the provisions of sub-clause (1)(b) shall apply from the date that the Director becomes otherwise aware of the dissolution of the engagement.

(3) Where, notwithstanding the efforts of the applicants to comply with the provisions of sub-clause (1)(c) and (d), the transfer of the dwelling-house cannot take place within the period laid down in the said paragraph (d) because no purchaser or acquirer of the dwelling-house comes forward to conclude the transfer, the Director shall have the right to purchase or acquire the said dwelling-house from the applicants at a price fixed by an architect designated for the purpose by the Director or to require the applicants to authorise him to transfer as aforesaid the same dwelling-house on their behalf.

(4) Where the Director exercises his aforesaid right to purchase or acquire the dwelling-house, from the price determined in accordance with the provisions of sub-clause (3) the Director shall deduct all subsidies from which the applicants benefited under this Scheme and all expenses and penalties as determined by the Director and the remaining balance shall be the amount payable to the applicants on the deed of transfer saving any obligations entered into by them in favour of the financial institution approved by the Director in respect of the loan advanced to them.