POWERS AND DUTIES OF THE AUTHORITY
Declaration of use area and location thereof
27. (1) The Authority may, after giving due notice in writing to the persons affected thereby and after giving such persons an opportunity of being heard, declare any area included in the Master Plan to be a use area.
(2) If within two years after such declaration has been made the area or any part thereof remains, in the opinion of the Authority, unreasonably unutilised, then upon such determination such area or part thereof shall be valued by the Authority and, after such valuation, shall be taxed by the Authority annually at the rate of three per cent of the value thereof until such time as an improvement satisfactory to the Authority shall have been completed.
(3) The tax revenues accruing under this section shall belong to, and may be utilised for the general purposes of, the Authority.
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Ministry of Law, Justice and Parliamentary Affairs