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Housing Consumers Protection Measures Act, 1998 (Act No. 95 of 1998)

Rules

National Home Builders Registration Council Rules

6. Financial evaluation

 

(1) The home builder when making an application to the Council for project enrolment in accordance with regulation 3 above, shall submit financial details of the housing development project to the Council, including:
(a) the home builder's banking details;
(b) number of subsidies in each subsidy band and the aggregate amount thereof and details of the applicability of the geo-technical allowance;
(c) the price of serviced land, top structures and total purchase price;
(d) copies of elemental cost breakdown and cash flow projections;
(e) anticipated commencement and completion dates for the housing development project; and
(f) any other financial or management information required by the Council.

 

(2) In order to prevent housing consumers and the Council from being exposed to unacceptable risks, the Council in view of its obligation in section 10(4) of the Act:
(a) Shall review the financial and management capacity of the home builder in relation to this specific housing development project; and
(b) May request any suretyship, guarantee or indemnity that the Council may at its discretion deem necessary.