In this Act, unless the context indicates otherwise—

"auditors"

means the auditors of the financial institution appointed in terms of the requirements of the Companies Act, or any other applicable law;

"borrower"

means any person who is indebted to a financial institution in respect of a home loan;

"Companies Act"

means the Companies Act, 1973 (Act No. 61 of 1973);

"Department"

means the Department of Housing;

"financial institution"

means any bank or mutual bank registered as such under the Banks Act, 1990 (Act No. 94 of 1990), or the Mutual Banks Act, 1993 (Act No. 124 of 1993), or any other registered financial institution whose business is, in full or in part, either the acceptance of deposits from the general public, the advance of credit to persons or both such acceptance and advance, with the security of a registered mortgage bond or any other form of accepted security, for the purpose of providing home loans;

"home"

means a residential structure that is recognised by a financial institution as collateral, in full or in part, for a home loan;

"home loan"

means a loan or advance by a financial institution to a person for purposes of constructing, purchasing, renovating or improving in any way such person’s home, with the security of a registered mortgage bond or any other form of accepted security;

"Minister"

means the Minister of Housing;

"Office"

means the Office of Disclosure established by section 4;

"prescribed"

means prescribed by regulation;

"regulation"

means a regulation made under section 12;

"required information"

means the information contemplated in section 3;

"secretariat"

means the secretariat contemplated in section 11.