Property Practitioners Act, 2019 (Act No. 22 of 2019)Chapter 4 : Transformation of Property Sector23. Exemptions in respect of accounting records and trust accounts |
| (1) | A property practitioner whose turnover is below R2,5 million must cause his, her or its accounting records to be subjected to an independent review by a registered accountant subject to the provisions of section 54(1) to (7), applied with the necessary changes. |
| (2) | The Minister may by notice in the Gazette— |
| (a) | determine the circumstances under which certain property practitioners may be exempted from keeping trust accounts; and |
| (b) | determine a different dispensation for the review of accounting records for those property practitioners. |