Property Practitioners Act, 2019 (Act No. 22 of 2019)Chapter 4 : Transformation of Property Sector21. Property Sector Transformation Fund |
| (1) | The Authority must, within six months of its establishment, open a Property Sector Transformation Fund into which grants contemplated in section 38 are paid. |
| (2) | The Minister may prescribe measures to promote economic transformation by facilitating the accessibility of finance for property ownership, property development and investment in order to enable meaningful participation of historically disadvantaged individuals including women, youth and people with disabilities. |
| (3) | The Authority must utilise the Property Sector Transformation Fund in such a manner as may be prescribed, which may include the following transformation and empowerment programmes: |
| (a) | Principalisation Programme, to promote Black owned firms and principals. |
| (b) | Regularisation Programme, to promote and encourage participation of the historically disadvantaged due to non-compliance. |
| (c) | Consumer Awareness Programme, to promote awareness of property transactions and business undertaking. |
| (d) | Work Readiness Programme, to promote and enhance participation of the historically disadvantaged in the property sector. |
| (4) | The Authority must in consultation with the services SETA develop special dispensation for the training and development of the historically disadvantaged which must include recognition of prior learning. |