In terms of the most recent Property Practitioners Act 22 of 2019, which was signed into effect by the President in September 2019, Section 50(a)(x) stipulates that property practitioners must have a valid BEE certificate to renew their fidelity fund certificate.
This includes:
- Estate agents;
- Managing agents;
- Rental agents;
- Business / Property brokers;
- Providers of bridging finance;
- Bond brokers;
- Property valuers;
- Developers.
As all property practitioners need a valid fidelity fund certificate to practice and earn any income, this is a significant change in legislation that all property practitioners must know.
Contact SEESA for any further clarity you might need regarding this matter.
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