Home Loans and Mortgage Disclosure Bill and Property Practitioners Bill open for public consultations
People in property business and members of the public have until 04 July 2017 to make inputs to the Property Practitioners Bill of 2016 and the Home Loan and Mortgage Disclosure Amendment Bill, respectively.
The two Bills were published on 31 March 2017 under the Notice 246 of 2017, Gazette No: 40733 to allow for public comment before the law is finalised. Once promulgated into law, the Property Practitioners Bill will repeal the current Estate Agency Affairs Act 112 of 1976.
The Home Loan and Mortgage Disclosure Amendment Bill is aimed at amending the Home Loan and Mortgage Disclosure Act 63 of 2000. It will also help to regulate key human settlements matters as identified in the National Development Plan including, amongst others, issues on spatial planning, provision of housing finance and dealing with complaints from home loan holders. The Bill also seeks to substitute and insert certain definitions to extend the powers of the Office of Disclosure to investigate public complaints relating to home loans by financial institutions.
The Property Practitioners Bills came as a result of the declaration of invalidity of Section 32 by the Constitutional Court and it will repeal the Estate Agency Affairs Act of 1976.
People can still make comments on the two Bills by submitting their inputs in writing and deliver it to: Department of Human Settlements offices at 260 Justice Mahommed Street in Sunnyside, Pretoria. Comments should be marked for the attention of Mr Thulani Khambule who can be contacted on (012) 444 9088. They can also be emailed to Thulani.Khambule@dhs.gov.za or sent via post to: The Director-General, Department of Human Settlements, Private Bag X644, Pretoria, 0001.
Enquiries:
Ben Bole (Departmental Spokesperson)
Cell: 071 566 1399
Email: msbole@nwpg.gov.za
