Thank you Dave,

Much appreciated for your input on this situation.
Its as I suspected, that by terms of the labour law and subsequently the stance CCMA would take that the employee is deemed to be an permanent employee, unlike the stance that the banks would take and deem the employee to be a "contract" worker according to only having an "term" contract and would therefore by banking law not qualify for a HP loan.

Why would two different laws be created governing one situation??
i.e the status of an employee {are they contract employees or permanent employees} :-)
No need to answer that one.