Diamonds Act, 1986
R 385
Property Practitioners Act, 2019 (Act No. 22 of 2019)Chapter 7 : Property Practitioners Fidelity Fund35. Primary purpose of Fund |
| (1) | Subject to the provisions of this Chapter, the Fund must be maintained and applied to reimburse persons who suffer pecuniary loss by reason of— |
| (a) | theft of trust money committed by a property practitioner who was in possession of a Fidelity Fund certificate at the time of the theft; or |
| (b) | the failure by a property practitioner to comply with section 54(1) or (3). |
| (2) | No person has any claim against the Authority as contemplated in subsection (1) unless the claimant has— |
| (a) | within three years after the circumstances giving rise to a claim came into being, given notice to the Authority of such claim as contemplated in section 37; or |
| (b) | within the three-year period contemplated in paragraph (a) after a written request was sent to him or her by the Authority, furnished to the Authority such proof as it may reasonably require. |
