| 1) | Any money which at commencement of this section stands to the credit of or is payable to— |
| a) | the Community Facility Account; |
| b) | the Rent Reserve Fund; or |
| c) | the Maintenance and Renewal Fund, |
of a , which funds have been established by virtue of the relevant law referred to in section 14(4)(b), must be transferred to the separate operating account of such municipality referred to in section 15(5).
| 2) | The money so transferred must be utilised by a municipality for housing development in accordance with the national housing policy and a housing development project approved by the MEC. |
