Housing Consumers Protection Measures Act, 1998 (Act No. 95 of 1998)RulesNational Home Builders Registration Council Rules6. 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. |