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Estate Agency Affairs Act, 1976 (Act No. 112 of 1976)

Chapter II : Estate Agents Fidelity Fund

13. Payments out of fund

 

 

1) Subject to the provisions of this Chapter, there shall be paid out of the fund whenever it is required -
a) the amount of all claims, including costs, allowed or established against the fund as hereinafter provided;
b) any contribution in the discretion of the board in respect of any expense incurred by any claimant in establishing his claim;
c) all legal, accounting and other expenses incurred in investigating and defending claims made against the fund or otherwise incurred in relation to the fund;
d) all premiums payable in respect of contracts of insurance entered into by the board in terms of section 23;
e) the expenses involved in the control of the fund, including remuneration and allowances to members of the board in connection with the management of the fund;
f) interest on and redemption of loans negotiated by the board on behalf of the fund;
g) any other moneys which shall or may be paid out of the fund in accordance with this Act.

 


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