PART 4

PART 4
Provision of funding to purchase equity share in dwellings

SECTION 41

Minister may provide funding to undertaking to enable purchase of dwellings

41. (1) The Minister may, out of moneys provided by the Oireachtas, contribute funds towards a special purpose vehicle established to make funds available to purchase an equity share in dwellings for the purpose of assisting persons to purchase such dwellings in accordance with the terms of a memorandum of agreement to be made between the Minister and such special purpose vehicle.

(2) Without prejudice to the generality of subsection (1), the memorandum of agreement to be made between the Minister and such special purpose vehicle may provide for—

(a) the persons or classes of persons who are to be eligible to purchase a dwelling in which an equity share is to be purchased with funds made available by the special purpose vehicle, in particular having regard to the financial means of such persons and their existing ability to obtain a mortgage that would enable the purchase of a dwelling suitable for their needs,

(b) the dwellings or classes of dwellings for the purchase of which funds may be made available by the special purpose vehicle,

(c)