Files
| Attachment | Size |
|---|---|
| act-40-1986.pdf | 421.02 KB |
40 of 1986
The Estate Agents Amendment Act 40 of 1986 intends:
- to amend the Estate Agents Act, 1976, so as
- to provide that the board may in certain circumstances pay audit fees out of its funds and thereafter recover them from the estate agent concerned;
- to make further provision regarding payments to be made out of the Estate Agents Fidelity Fund;
- to amend the requirements in connection with the issue of a fidelity fund certificate;
- to provide that interest may in certain circumstances be paid out of the Estate Agents Fidelity Fund;
- to provide that an independent contractor rendering services to an estate agent shall be the holder of a fidelity fund certificate but that fidelity insurance need not be taken out in respect of him;
- to require that a fidelity fund certificate be returned to the board in the case of certain disabilities of the holder thereof and on the liquidation of a company or a close corporation;
- to make further provision concerning acts constituting improper conduct;
- to further regulate the requirements concerning trust accounts and the auditing thereof; and
- to provide that an estate agent shall not be entitled to remuneration in respect of transactions concluded by him while not complying with certain provisions of the Act; and
- to provide for incidental matters.
Commencement
23 April 1986
