Amendment status not verified — confirm the current text below against the official source.
(1) Whenever it appears to the Board that any area is an insanitary area within the meaning of the proceeding section and that, having regard to the comparative value of the building in such area and of the sites on which they are erected, the most satisfactory method of dealing with the area or any part thereof is a re-building scheme, the Board may pass a resolution to that effect, and shall then proceed to frame a scheme in accordance with the provisions of this section. (2) A re-building scheme may provide for -- (a) the reservation of streets, lanes and open spaces and the enlargement of existing streets, lanes and open spaces to such an extent as may be necessary for the purposes of the scheme; (b) the re-laying out of the sites of the area upon streets, lanes or open spaces so reserved or enlarged; (c) the payment of compensation in respect of any such reservation or enlargement, and the construction of the streets, lanes and open spaces so reserved or enlarged; (d) the re-construction, alteration or demolition of the existing buildings and their appurtenances by the owners, or by the Board in default of the owners, and the erection of buildings in accordance with the scheme by the said owners or by the Board in default of the owners, upon the sites as defined under the scheme; (e) the advance to the owners, upon such terms and conditions as to interest, sinking fund and otherwise as may be provided under the scheme, of such sums as may be necessary to assist them to reconstruct or alter existing buildings or to erect new buildings in accordance with the scheme; (f) the acquisition by the Board of any site or building comprised in the area included in the scheme.