Procedure for House Building Assistance

2.2       Procedure for House Building Assistance

a          Applications for such assistance shall be sent to the HRD, who will recommend it. The applicant will be required to declare the exact ownership of the House/Flat being bought/built, the date of purchase/construction and the address of the premises.

b          The HRD shall be required to inspect the premises and ascertain that the individual is utilising the advance for the purpose specified above. All applications must be accompanied by the HRD’s written confirmation.

c          Subject to approval and confirmation, HRD shall authorise the Finance Department to disburse the amount.

d          The manager shall be required to execute a Promissory Note in favour of the Company and sign a Loan Agreement, and provide a copy of the ownership documents to the HRD. It is the Finance Department’s responsibility to ensure this.