SCHEDULE 3 RHOG

PART 1 INTERPRETATION AND PURPOSE

1 Interpretation
In this Schedule–
“new build property” means subjects comprising a unit that is to be constructed for or by a grant recipient;
“off the shelf property” means subjects comprising a unit that a grant recipient–
(a) acquires;
(b) acquires and improves; or
(c) already owns but improves;
“project” means the provision of a unit which is either a new build property or an off the shelf property;
“RHOG” means rural home ownership grant paid by a local authority to a grant recipient in respect of the subjects in a rural area; and
“term of the RHOG” means 10 years from the date of payment of the RHOG for which the terms and conditions of the grant are to apply.