Public Participation of the Property Practitioners Bill Commences

Legal generic

The first session of the Property Practitioners Bill 2016 and the Home Loan and Mortgage Disclosure Amendment Bill public participation process commenced in Kimberley Northern Cape this week.

Members of the public and property practitioners from the province made inputs ranging from the promotion of meaningful participation by small businesses, stringent penalties to ensure financial institutions compliance, unfair landing practises by institutions, to assistance given to mortgage defaulters.

Northern Cape head of Human Settlements Department Bafedile Lenkoe said that property practitioners should take advantage and opportunity provided by the public participation process to make inputs.

“Everyone must participate, this is to ensure that everyone benefits, the marginalised youth, women and everyone involved. Progressive legislative frameworks and strategic interventions are an imperative to the alignment and implementation of the National Development Plan”, added Lenkoe.

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 next Public Participation session will be in Rustenburg on 22 June 2017.