Commonwealth Numbered Acts

HOMES SAVINGS GRANTS ACT 1976 No. 183 of 1976 - SECT 11

11. (1) A reference in this Act (other than sections 25 and 26) to the
purchase or ownership by a person or persons of land or of an undivided share
in land shall be read as a reference to the purchase or ownership, as the case
may be, by the person or persons, otherwise than as a trustee or trustees, of
an approved interest in the land or in an undivided share in the land.

(2) A reference in this Act to the purchase or ownership of a dwelling-house
by a person or persons shall-

   (a)  in the case of a dwelling-house not being a dwelling-house of a kind
        commonly known as a flat or home unit, be read as a reference to the
        purchase or ownership, as the case may be, by the person or persons,
        otherwise than as a trustee or trustees, of the land on which the
        dwelling-house is, or is to be, erected; and

   (b)  in the case of a dwelling-house being a dwelling-house of a kind
        commonly known as a flat or home unit, be read as a reference to the
        purchase or ownership, as the case may be, by the person or persons,
        otherwise than as a trustee or trustees, of-

        (i)    an approved interest in the flat or home unit in pursuance of a
               law of a State or internal Territory that enables the holding
               or enjoyment by different persons of proprietary rights in
               respect of different flats or home units contained in the one
               building;

        (ii)   shares in the capital of a company that is the owner of the
               land on which the building containing the flat or home unit is
               erected, being shares that entitle the holder to a right of
               occupancy (whether under a lease or otherwise) in respect of
               the flat or home unit; or

        (iii)  if the person is the purchaser or owner, or the persons are the
               purchasers or owners, of an undivided share in the land on
               which the building containing the flat or home unit is, or is
               to be, erected and, by virtue of an agreement between the
               person or persons and all the other owners of undivided shares
               in the land, the person is, or is to be, or the persons are, or
               are to be, entitled to a right of occupancy in respect of the
               flat or home unit-the undivided share in that land of the
               person or persons.

(3) For the purposes of this section-

   (a)  the purchase of an interest in land, in an undivided share in land or
        in a flat or home unit, being an interest that, together with an
        interest already owned by the purchaser or any of the purchasers, by
        the spouse of the purchaser or of any of the purchasers or by 2 or
        more of those persons, constitutes an approved interest in the land,
        in an undivided share in the land or in the flat or home unit, as the
        case may be, shall be deemed to be the purchase of such an
        approved interest; and

   (b)  the purchase of an interest in shares in the capital of a company,
        being shares that entitle the holder to a right of occupancy in
        respect of a flat or home unit, shall, if all other interests in those
        shares are already owned by the purchaser or any of the purchasers, by
        the spouse of the purchaser or of any of the purchasers or by 2 or
        more of those persons, be deemed to be the purchase of those shares.

(4) For the purposes of this section-

   (a)  the purchase or ownership of an approved interest in land by a person
or persons (in this sub-section referred to as the ''relevant person'' or
''relevant persons'') jointly with another person or other persons; or

   (b)  the purchase or ownership of an undivided share in an
        approved interest in land by a person or persons (in this sub- section
        also referred to as the
''relevant person'' or ''relevant persons''), being land in respect of which
the relevant person is, or the relevant persons are, entitled to an exclusive
right of occupancy, shall, if the Secretary in his discretion so determines,
be treated as if it were the purchase or ownership, as the case may be, of
that approved interest in the land by the relevant person or relevant persons,
as the case may be.