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Property related Bills

13 April 2017

Property Practitioners Bill, 2016: For public comment

Interested persons or institutions are invited to submit written comments or representations with regard to the draft Property Practitioners Bill, 2016 within 30 days of the date of publication of this notice (GC 40733, Notice 246, 31 March 2017).

“This Bill is part of Government’s response to the changing market conditions and it seeks to create an enabling environment to enhance economic activity within the real estate sector. It will also help open up market opportunities for new entrants into the real estate sector especially black people who were previously disadvantaged,” Minister Sisulu said in a statement.

The bill aims to provide for the …

  • regulation of property practitioners;
  • continuation of the Estate Agency Affairs Board as the Property Practitioners Regulatory Authority;
  • appointment of the members of the Board and matters incidental thereto;
  • appointment of the Chief Executive Officer and other staff members of the Authority;
  • establishment, appointment, powers and functions of the Property Practitioner's Ombud Office;
  • compliance with and enforcement of the provisions of the Act;
  • continuation of the Estate Agents Fidelity Fund as the Property Practitioners Fidelity Fund;
  • protection of consumers;
  • repeal of the Estate Agency Affairs Act, 1976, and matters connected therewith.

 

The Home Loan and Mortgage Disclosure Amendment Bill: For public comment

Interested persons or institutions are invited to submit written comments or representations with regard to the draft Home Loan and Mortgage Disclosure Amendment Bill: within 30 days of the date of publication of this notice (GC 40733, Notice 247, 31 March 2017).

The bill seeks to regulate issues regarding 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. According to Minister Sisulu it will also "ensure compliance by financial institutions and improve lending conditions and patterns.”

The bill will therefore ...

  • amend the Home Loan and Mortgage Disclosure Act, 2000, so as to substitute and insert certain definitions;
  • extend the powers of the Office of Disclosure to investigate public complaints on financial institutions relating to home loans;
  • provide for instances that constitutes conflict of interest;
  • provide for the information required to be disclosed by financial institutions under the Act; and
  • provide for matters connected therewith.

All comments or presentations regarding the bills must be submitted in writing in one of the following ways:

  1. By post to: The Director General
    Department of Human Settlements
    Private Bag x 644
    Pretoria
    0001
    For attention: [Mr T Khambule]

  2. Delivered to: The Director-General
    Department of Human Settlements
    260 Justice Mohamed Street
    For attention: [Mr T Khambule]

  3. By electronic mail: [Thulani.Khambule@dhs.gov.za]

Enquiries: [Mr T Khambule 012 444 9088]

Draft Property Practitioners Bill for comment and the Home Loan and Mortgage Disclosure Amendment Bill

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