Home Loan and Mortgage Disclosure Act, 2000Chapter I : Introductory provisions2. Disclosure obligations by financial institution |
| (1) | From the date of the commencement of this Act, every financial institution must disclose the required information in its annual financial statements. |
| (2) | The disclosure by a financial institution of the required information is in addition to any other information which the financial institution is obliged to disclose in its financial statements in terms of the Companies Act or any other law. |
| (3) | The required information must be furnished under a separate heading entitled, "Disclosure requirements in terms of Home Loan and Mortgage Disclosure Act". |
| (4) | The auditors must comment specifically in the financial institution's annual statements on the accuracy and comprehensiveness of the information disclosed in terms of subsection (1) and whether or not there has been institution with the relevant provisions of this Act. |