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University of Papua New Guinea (Amendment) Act 1998

PAPUA NEW GUINEA

University of Papua New Guinea (Amendment) Act 1998

No. 44 of 1998.
Certified on: 18.12.98

ARRANGEMENT OF SECTIONS.

1. Powers of the University (Amendment of Section 6).
2. New Part VIA.

"PART VIA. - HOME OWNERSHIP SCHEME.
"39A. SPECIAL CATEGORIES OF HOUSES.
"39B. LOANS FOR HOUSING PURPOSES.
"39C. HOME OWNERSHIP SCHEME ACCOUNT.
"39D. REPORT ON HOME OWNERSHIP SCHEME.

AN ACT

entitled

University of Papua New Guinea (Amendment) Act 1998,

Being an Act to amend the University of Papua New Guinea Act (Chapter 169),

MADE by the National Parliament.

1. POWERS OF THE UNIVERSITY (AMENDMENT OF SECTION 6).

Section 6 of the Principal Act is amended by inserting after Paragraph (g) the following new Paragraph:-

"(ga) to devise and operate a Home Ownership scheme for the staff of the University; and".

2. NEW PART VIA.

The Principal Act is amended by inserting after Part VI the following new Part:-

"PART VIA. - HOME OWNERSHIP SCHEME.
"39A. SPECIAL CATEGORIES OF HOUSES.
(1) The Minister may, with the approval of the Council given after the approval of the National Executive Council, declare any houses owned by the University to be Special Categories of houses which may be sold in accordance with this Part.
"(2) A declaration under Subsection (1) shall -

• (a) specify the terms and conditions under which the Special Categories of houses are to be sold; and
• (b) be published in the National Gazette.

"39B. LOANS FOR HOUSING PURPOSES.
(1) The University may make a loan to, or guarantee a mortgage on behalf of, a member of the staff of the University for the purpose of house purchase or construction, where such member of the staff has been accepted to take part in a Home Ownership Scheme devised by the University.
"(2) For the purposes of this Part, "member of the staff of the University" means a citizen who is on full-time employment with or on work contract with the University.
"39C. HOME OWNERSHIP SCHEME ACCOUNT.
(1) The University shall open and maintain such bank accounts as are necessary for a Home Ownership Scheme and shall pay into them -

• (a) all moneys received by the University for the sale of houses under the Home Ownership Scheme and otherwise for the sale and leasing of houses; and
• (b) all other moneys received by the University in the exercise and performance of its powers and functions under the Home Ownership Scheme.

"(2) Out of the moneys standing to the credit of the accounts of the University referred to in Subsection (1), the University -

• (a) shall pay -
  • (i) all monies payable by it in payment of advances under the Home Ownership Scheme and as interest on such advances; and
  • (ii) the costs, charges and expenses incurred by the University in the performance of its functions under the Home Ownership Scheme; and
  • (iii) the remuneration and allowances of persons employed by the University for the purposes of the Home Ownership Scheme; and
  • (iv) any other payments the University is authorized or required to make under the Home Ownership Scheme; and
• (b) may -
  • (i) make loans to the staff of the University to assist with home ownership; and
  • (ii) pay the cost of redeveloping or purchasing residential properties to be made available to the Home Ownership Scheme.

"39D. REPORT ON HOME OWNERSHIP SCHEME.
The University shall, at least once in each fiscal year, furnish to the Minister, for presentation to the National Executive Council, a report on any Home Ownership Scheme devised and operated by the University.".

I hereby certify that the above is a fair print of the University of Papua New Guinea (Amendment) Act 1998 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the University of Papua New Guinea (Amendment) Act 1998 was made by the National Parliament on 29 September 1998.

Speaker of the National Parliament.