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National Gazette No. 38427, 28 January 2015, Vol 595, Page 14

20150128 - National Gazette No 38427 of 28-January-2015, Volume 595, page 14

Page	14 of 72
Gazette	National Gazettes, No 38427, from 28 January, 2015
Department	Human Settlements
Notice	Page No. 12 of 70, Notice No. 64, Social Housing Act No. 16 of 2008 » Rules on the transfer or disposal of social housing stock funded with public funds » Correction Notice
Act No	Act No. 16 of 2008

14  No. 38427               GOVERNMENT GAZETTE, 28 JANUARY 2015

5.    Lapsing or withdrawal of approval in respect of transfer application

5.1        Should the Regulatory Authority approve a transfer or disposal, such approval
                               shall lapse in the event that the transfer or disposal is not effected within a

period of 6 (six) months, reckoned from the date on which the applicant is
                               notified of the approval.

5.2        The Regulatory Authority may, on good cause shown, extend the 6 (six)
                               month period contemplated in rule 5.1, provided that the transferor applies at
                               least 30 (thirty) days prior to the lapsing of the period for such an extension.

The application shall be made in writing on Form C. The Regulatory Authority
                               shall notify the transferor of its decision in this regard in writing at least 7
                               (seven) days prior to the expiry of the 6 (six) month period contemplated in
                               rule 5.1 and, where the Regulatory Authority has refused the application, it

shall, upon written request, provide the transferor with the reasons for the
                               refusal. The Regulatory Authority may withdraw an approval of a transfer or
                               disposal prior to the transaction being finalised should it become apparent that

any of the information provided to the Regulatory Authority in the transfer
                               application was false or misleading in a material respect.

5.3        In the event that an approval lapses in terms of rule 5.1 or is withdrawn by the
                               Regulatory Authority in terms of rule 5.3, and should the transferor wish to
                               pursue the transaction further, it must submit a new application for approval in
                               accordance with the provisions of rule 4.

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