National Housing Act — N-11 2
Definitions 2 In this Act, approved instalment credit agency [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 1] approved lender means a person designated as an approved lender by the Corporation under section 5; ( prêteur agréé ) approved loan [Repealed, 1999, c. 27, s. 1] bank [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 1] borrowers’ charges [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 1] builder means a person who builds houses for sale or for rent; ( constructeur ) condominium unit [Repealed, 1999, c. 27, s. 1] cooperative housing project [Repealed, 1999, c. 27, s. 1] Corporation means the Canada Mortgage and Housing Corporation established by the Canada Mortgage and Housing Corporation Act ; ( Société ) cost of construction means the aggregate of (a) the cost or appraised value of the land, whichever is the lesser, or, in the case of land acquired by gift or devise, the appraised value of the land, (b) actual expenditure for building, (c) the architectural, legal and other expenses and carrying charges necessary to complete the house or housing project, (d) where work is done by the owner, such amount as the Corporation may fix as the value of the work, and (e) land development costs and carrying charges; ( coût de construction ) cost of construction of a family housing unit [Repealed, 1999, c. 27, s. 1] cost of conversion [Repealed, 1999, c. 27, s. 1] designated area [Repealed, 1999, c. 27, s. 1] family housing unit means a unit providing therein living, sleeping, eating, food preparation and sanitary facilities for one family, with or without other essential facilities shared with other family housing units; ( logement familial ) family of low income means a family that receives a total family income that, in the opinion of the Corporation, is insufficient to permit it to rent housing accommodation adequate for its needs at the current rental market in the area in which the family lives; ( famille à faible revenu ) farm [Repealed, 1999, c. 27, s. 1] guaranteed home improvement loan [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 1] home improvement loan [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 1] house means a building or movable structure, or any part thereof, that is intended for human habitation and contains not more than two family housing units, together with any interest in land appurtenant to the building, movable structure or part thereof; ( maison ) housing project means (a) any building or movable structure, or any part thereof, that is intended for human habitation, (b) any property that is intended to be improved, converted or developed to provide housing accommodation or services in support of housing accommodation, or (c) any property that is associated with housing accommodation, including, without limiting the generality of the foregoing, land, buildings and movable structures, and public, recreational, commercial, institutional and parking facilities; ( ensemble d’habitation ) Indian [Repealed, 1999, c. 27, s. 1] Indian band [Repealed, 1999, c. 27, s. 1] insured loan means a loan that is insured by the Corporation under Part I; ( prêt assuré ) lender [Repealed, 1999, c. 27, s. 1] lending value [Repealed, 1999, c. 27, s. 1] limited-dividend housing company means a company incorporated to construct, hold and manage a low-rental housing project, the dividends payable by which are limited by the terms of its charter or instrument of incorporation to five per cent per annum or less; ( société immobilière à dividendes limités ) low-rental housing project means a housing project undertaken to provide decent, safe and sanitary housing accommodation, complying with standards approved by the Corporation, to be leased to families of low income or to such other persons as the Corporation, (a) in its discretion, in the case of a housing project owned by it, or (b) under agreement with the owner, in the case of a housing project not owned by it, designates, having regard to the existence of a condition of shortage, ove