(1) A local planning authority or appropriate planning authority as defined in subsection (8) of section forty-one—
(a) to which moneys are paid in terms of a condition in a permit referred to in subparagraph (1) of paragraph (b) of subsection (8) of section twenty-six or in section forty-one; or
(b) to which endowment moneys are paid in terms of section 72, 85 or 93 of the repealed Act; or
(c) which sells land in the circumstances referred to in subsection (6) of section forty-nine or subsection (4) of section fifty-seven;
shall open and maintain a separate development account into which all moneys so received shall be paid.
(2) Subject to subsection (3), the development account shall not be used for any purpose other than—
(a) the payment of any costs incurred in connection with the valuation of any subdivision for the purposes of section forty-one; or
(b) the acquisition of land in terms of subsection (1) of section forty-five; or
(c) the acquisition of any building in terms of section forty-seven or forty-eight, the removal of that building and its erection elsewhere; or
(d) the payment of any compensation in terms of section fifty; or (e) such other purposes as the Minister may authorize by notice in writing to that authority:
Provided that any direction affecting endowment moneys made by the Minister in terms of section 23 of the Municipal (Salisbury) (Alteration of Boundaries and Related Matters) Notice, 1971 (Rhodesia Government Notice No. 261 of 1971), shall continue in force notwithstanding this subsection.
(3) Moneys in the development account which have been paid by virtue of the provisions of a condition in a permit referred in subparagraph (i) of paragraph (b) of subsection (8) of section twenty-six shall be separately accounted for and shall not be used for any purpose other than the purpose for which the moneys were so paid. (4) An endowment moneys account opened in terms of section 6 of the Town and Country Planning (Endowment) Regulations, 1971 (Rhodesia Government Notice No. 1161 of 1971), shall be deemed to be the development account opened in terms of subsection