Diamonds Act, 1986
R 385
Property Practitioners Act, 2019 (Act No. 22 of 2019)Chapter 7 : Property Practitioners Fidelity Fund43. Actions against Authority in respect of Fund |
| (1) | No person may commence any action against the Authority for payment from the Fund after the expiry of three years from the date of a written notification by the Authority addressed to the claimant, or his, her or its legal representative, if any, informing the claimant that the Authority— |
| (a) | rejects the claim to which the action relates; or |
| (b) | requires compliance with section 42. |
| (2) | No person may recover from the Authority any amount larger than the difference between the amount of the loss suffered by him or her and the amount or value of all monies or other benefits which he or she received or is entitled to receive out of any other source in respect of such loss. |
| (3) | No right of action lies against the Authority in respect of any loss suffered by— |
| (a) | the spouse, life partner, business partner or immediate family member of a property practitioner by reason of any negligent or intentional conduct including theft committed by such property practitioner; or |
| (b) | any property practitioner by reason of any negligent or intentional conduct including theft committed— |
| (i) | by his, her or its business partner; |
| (ii) | if such property practitioner is a company, by any director of such company; |
| (iii) | if he or she is a director of a company, by any co-director in such company; |
| (iv) | if such property practitioner is a close corporation, by any member of such corporation; |
| (v) | if he or she is a partner in a partnership, by any other partner of such partnership; or |
| (vi) | by any person employed by him or her as a property practitioner; |
| (c) | any person as a result of negligent or intentional conduct including theft, or as a result of any other act or omission in connection with trust monies held or received on account of any other person, by any person referred to in paragraph (d) of the definition of ‘‘property practitioner’’ in section 1. |
