Property Practitioners Act, 2019 (Act No. 22 of 2019)RegulationsProperty Practitioners Regulations, 2022Chapter 8 : Administrative and other matters41. Administrative MattersSchedule 4 - General Administrative Matters |
| 41.32 | For the purposes of section 54(14), the relevant confirmation or update must be uploaded to the Authority's web portal, provided always that a property practitioner may send such confirmation or update to the email address or deliver such confirmation update by post or by hand to the physical address provided for in regulation 41.3 of Schedule 1 (Administrative Matters Relating to Exemptions). |
| 41.33 | Where a property practitioner who is a natural person acts on behalf of any business property practitioner, that natural person property practitioner must reflect on all emails, letters, contracts, business cards, marketing materials and similar forms of communication the full name, email address and telephone number of the business property practitioner on behalf of whom that natural person property practitioner is acting. |
| 41.34 | All emails, letters, contracts, business cards, marketing materials and similar forms of communications must, in addition to the matters prescribed for in terms of section 53 (1) further reflect, in respect of each property practitioner— |
| 41.34.1 | that is a sole proprietorship or business property practitioner, that such holds a fidelity fund certificate in the capacity of a business property practitioner; |
| 41.34.2 | whether or not that business property practitioner operates a trust account; |
| 41.34.3 | in respect of each natural person that is associated with or operates under the auspices of that business property practitioner, the name of such natural person together with a statement that such natural person holds a fidelity fund certificate and the capacity in which such person acts as a property practitioner in relation to that business property practitioner, being either a principal, a full status property practitioner or an intern. |
| 41.35 | For the purposes of section 62 (2) (1) (d), the Authority must grant a property practitioner a period of at least 30 days to provide the relevant requested information, calculated from the date upon which that property practitioner first receives such request for information. |
| 41.36 | A person who wishes to claim for compensation from the Property Practitioners Fidelity Fund in respect of theft of trust money by a property practitioner shall not be required to take any steps against the property practitioner concerned, other than as provided for in section 37 (2) of the Act. |
| 41.37 | The financial statements of a property practitioner must either be prepared in accordance with a recognised financial reporting framework or a basis of accounting as determined by the property practitioner taking cognisance of other applicable laws and regulations which may prescribe the financial reporting framework to be applied in the preparation of the financial statements based on the type of business through which the property practitioner practices. |
| 41.38 | An audit report required under the provisions of the Act (as read together with these regulations) shall be in such form as is determined by the auditor carrying out said audit as being most appropriate in the circumstances, provided that if the South African Institute of Chartered Accountants (or its successor in title) determines one or more forms of audit report to be used for the purposes of the Act (as read together with these regulations), then the auditor shall use such form of report, provided further that— |
| 41.38.1 | in carrying out his obligations the auditor shall comply with the auditing pronouncements in terms of the Auditing Profession Act, 26 of 2005; and |
| 41.38.2 | if the auditor is unable to furnish an unqualified report, the fact thereof and the reasons therefor will be fully set out in the report and all alterations to an audit report must be signed by the auditor concerned. |
| 41.39 | In carrying out its functions under the Act and the regulations, the Authority must consult in good faith with the various representative organisations in industries regulated by the Authority and must have due regard to both the expertise of such representative organisations in the relevant fields that they represent and the concerns and considerations raised by such representative organisations. |
| 41.40 | In carrying out its functions under the Act and the regulations, the Authority must, upon request being made by any person whose rights have been materially and adversely affected by any administrative action of the Authority who has not been given reasons for such action, furnish adequate reasons in writing to such person. |