Section 28B: Incentives for Smart Cities
This section is inserted by Act No 34 of 2016, section 15.
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
28B. Incentives for Smart Cities
(1) Subject to section 28A, a person transferring land to a
Smart City Company may, in addition –
(a) transfer part or the totality of his LCR; or
(b) transfer any LCR arising from an application made
by the person under section 28 (4F) in respect of
a change of site or purpose accompanied by a
written approval for land conversion.
640 Acts 2016
(2) Subject to section 28A, where a company implements
a Smart City Scheme, it may use any LCR entitlement transferred to
it and acquire LCR from a person holding such an entitlement.