Social Housing Act, 2008 (Act No. 16 of 2008)

Regulations

Purchase

An agreement concluded between the Regulatory Authority and the National Housing Finance Corporation (NHFC) must—

(a)	set out the roles and responsibilities of the NHFC and the Regulatory Authority in respect of social housing;

(b)	specify the eligibility criteria of social housing projects for loan funding;

(c)	specify the terms and conditions of such loan funding including—

(i)

terms;

(ii)	interest rate; and

(iii)

conditions (such as guarantees, collateral etc);

(d)	specify the process to approve, allocate and administer such loan funding and in this regard—

(i)	set out the approvals process and timeliiles; and

(ii)	set out the payments process and timelines;

(e)	provide for regular monitoring of social housing projects in respect of loan performance and in this regard—

(i)	set out the monitoring information requirements;

(ii)	set out the monitoring process and timelines; and

(iii)

set out the minimum reporting submission requirements and submission dates to the Regulatory Authority.