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Property Practitioners Act, 2019 (Act No. 22 of 2019)

Chapter 1 : Definitions, Application, Objects and Establishment of Authority

3. Objects of Act

 

The objects of the Act are to—

 

(a) provide for the regulation of property practitioners;

 

(b) provide for the establishment of the Authority;

 

(c) provide for the powers, functions and governance of the Authority;

 

(d) provide for the protection and promotion of the interests of consumers;

 

(e) provide for a dispute resolution mechanism in the property market;

 

(f) provide for the education, training and development of property practitioners and candidate Property Practitioners;

 

(g) provide for a framework for the licensing of property practitioners;

 

(h) provide for a just and equitable legal framework for the marketing, managing, financing, letting, renting, sale and purchase of property;

 

(i) promote meaningful participation of historically disadvantaged individuals and small, micro and medium enterprises in the property market;

 

(j) provide for the transformation of the property market and the establishment of the Property Sector Transformation Fund;

 

(k) provide for the transformation of the property market that facilitates property ownership to more South Africans through structured interventions and the creation of property consumer ownership programmes in the affordable and secondary market; and

 

(l) create a mechanism for responding and implementation of directives received from the Minister, from time to time.