Estate Agency Affairs Act, 1976 (Act No. 112 of 1976)Chapter II : Estate Agents Fidelity Fund12. Establishment and control of Estate Agents Fidelity Fund |
| 1) | There is hereby established a fund to be known as the Estate Agents Fidelity Fund, into which shall be paid - |
| a) | all moneys paid as annual contributions in accordance with the provisions of this Chapter to or on account of the fund; |
| b) | income derived from the investment of moneys in the fund; |
| c) | all moneys recovered by or on behalf of the fund in the exercise of any right of action conferred by this Chapter; |
| d) | all moneys received on behalf of the fund from any insurance company; |
| e) | interest paid to the fund in terms of section 32(2)(c); and |
| f) | any other moneys accruing to the fund from any other source. |
| 2) | The fund shall be controlled and managed by the board, which shall utilize the moneys in the fund in accordance with the provisions of this Chapter. |
| 3) | All moneys forming part of the fund shall, until they are invested or spent in accordance with the provisions of this Chapter, be paid into a bank approved by the Minister, to the credit of an account to be called the Estate Agents Fidelity Fund Account. |