Property Practitioners Act, 2019 (Act No. 22 of 2019)Chapter 8 : Property Practitioners57. Mandatory indemnity insurance |
| (1) | The Minister may, for the purposes of providing redress in respect of the contravention of a code of conduct contemplated in section 61 or sanctionable conduct contemplated in section 62, prescribe indemnity insurance which a property practitioner must take out and maintain. |
| (2) | The Minister may, when acting under subsection (1), on reasonable grounds differentiate between— |
| (a) | categories of property practitioners to whom a regulation applies; |
| (b) | the minimum insured amounts in respect of which such insurance must be taken out and maintained; |
| (c) | the extent to which conduct in contravention of a code of conduct and sanctionable conduct qualifies for redress under such insurance; and |
| (d) | the maximum amounts payable in terms of such insurance. |