The Committee on Finance and Banking recommends that the Parliament rejects the Bill on Supplements to Chapter III "Final and Transitional Provisions" of the Law "On Prevention of the Influence of the Global Financial Crisis on the Development of Construction Sector and Housing Construction" (re Prevention of Extrajudicial Housing Exemption on the Grounds of Clauses on Satisfaction of Demands of Mortgage Holder concluded before 14 January 2009)

09 November 2009, 10:36

Publish

The Bill (Reg. No. 4259) supplements Chapter III "Final and Transitional Provisions" of the Law "On Prevention of the Influence of the Global Financial Crisis on the Development of Construction Sector and Housing Construction" with Paragraph 3-1, pursuant to which, the Law shall not extend on the clauses concerning satisfaction of demands of mortgage holder made before the mortgage agreement came into effect.  

 

The Committee members stated that the amendments to the Law "On Mortgage" introduced by the Law "On Prevention of the Influence of the Global Financial Crisis on the Development of Construction Sector and Housing Construction" failed to alter the issue concerning possible appeal for exemption of housing in mortgage, and were considered as technical ones.