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NATIONAL LEGISLATION OVERVIEWS
NATIONAL LEGISLATION OVERVIEWS
Estate Agents Amendment
Act, No.
90 of 1998
Long title
To amend the Estate Agents Act, 1976, so as to substitute certain words; to amend or to insert certain definitions; to amend the objects of the Estate Agency Affairs Board; to further regulate appeals to the Board; to provide for grants and payments from the fidelity fund and the arrangement of group insurance schemes by the Board; to provide for the imposition of a penalty for the late application for the issue of a fidelity fund certificate or a registration certificate; to provide that the fidelity fund shall be obliged to pay compensation to a person who suffered a loss by reason of theft by an estate agent of trust money; to make further provision for the disqualifications relating to the issuing of fidelity fund certificates, and for the withdrawal of a fidelity fund certificate and a registration certificate; to provide for the circumstances under which a fidelity fund certificate and a registration certificate shall lapse; to further regulate the grounds upon which an estate agent shall be guilty of conduct deserving of sanction; to provide anew for the penalties which the Board or a committee of inquiry may impose; to provide for the suspension of a fidelity fund certificate if a fine imposed by the Board is not paid within one month; to authorise the Board and a committee of inquiry to order that any portion of a fine imposed by it be applied to compensate any person who suffered a loss as a result of the conduct of the estate agent concerned; to authorise the Board to make a contribution from the fidelity fund towards the costs incurred by an estate agent who has been found not guilty on a charge of conduct deserving of sanction; to make further provision for the keeping of a trust account by an estate agent; to provide for circumstances under which an estate agent shall not be entitled to remuneration; and to prohibit the drafting or completion of certain documents by estate agents who have not complied with the prescribed standard of training; and to provide for matters connected therewith.
Table of contents
Legislation Text Access Point
Long title
To amend the Estate Agents Act, 1976, so as to substitute certain words; to amend or to insert certain definitions; to amend the objects of the Estate Agency Affairs Board; to further regulate appeals to the Board; to provide for grants and payments from the fidelity fund and the arrangement of group insurance schemes by the Board; to provide for the imposition of a penalty for the late application for the issue of a fidelity fund certificate or a registration certificate; to provide that the fidelity fund shall be obliged to pay compensation to a person who suffered a loss by reason of theft by an estate agent of trust money; to make further provision for the disqualifications relating to the issuing of fidelity fund certificates, and for the withdrawal of a fidelity fund certificate and a registration certificate; to provide for the circumstances under which a fidelity fund certificate and a registration certificate shall lapse; to further regulate the grounds upon which an estate agent shall be guilty of conduct deserving of sanction; to provide anew for the penalties which the Board or a committee of inquiry may impose; to provide for the suspension of a fidelity fund certificate if a fine imposed by the Board is not paid within one month; to authorise the Board and a committee of inquiry to order that any portion of a fine imposed by it be applied to compensate any person who suffered a loss as a result of the conduct of the estate agent concerned; to authorise the Board to make a contribution from the fidelity fund towards the costs incurred by an estate agent who has been found not guilty on a charge of conduct deserving of sanction; to make further provision for the keeping of a trust account by an estate agent; to provide for circumstances under which an estate agent shall not be entitled to remuneration; and to prohibit the drafting or completion of certain documents by estate agents who have not complied with the prescribed standard of training; and to provide for matters connected therewith.
Table of contents
| SECTION | TITLE |
| 1. | Amendment of section 1 of Act 112 of 1976... |
| 2. | Substitution of section 2 of Act 112 of 1976 |
| 3. | Substitution of section 7 of Act 112 of 1976 |
| 4. | Amendment of section 8B of Act 112 of 1976... |
| 5. | Insertion of section 8C in Act 112 of 1976 |
| 6. | Insertion of sections 12A, 12B and 12C in Act 112 of 1976 |
| 7. | Amendment of section 16 of Act 112 of 1976... |
| 8. | Repeal of section 17 of Act 112 of 1976 |
| 9. | Amendment of section 1!3 of Act 112 of 1976... |
| 10. | Substitution of section 26 of Act 112 of 1976... |
| 11. | Amendment of section 27 of Act 112 of 1976... |
| 12. | Amendment of section 28 of Act 112 of 1976... |
| 13. | Amendment of section 30 of Act 112 of 1976... |
| 14. | Substitution of section 31 of Act 112 of 1976... |
| 15. | Amendment of section 32 of Act 112 of 1976... |
| 16. | Amendment of section 32A of Act 40 of 1986 |
| 17. | Amendment of section 33 of Act 112 of 1976... |
| 18. | Substitution of section 34A of Act 112 of 1976 |
| 19. | Insertion of section 34B in Act 112 of 1976 |
| 20. | Substitution of section 37 of Act 112 of 1976 |
| 21. | Substitution of long title of Act 112 of 1976 |
| 22. | Short title and commencement |
Legislation Text Access Point
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