| (1) |
No person or entity may act as a property practitioner unless, in addition to any other requirements provided for in or under this Act— |
| (a) |
he or she or it has been issued with a Fidelity Fund certificate contemplated in section 47; or |
| (b) |
if he or she or it employs any other person as a property practitioner, that person has also been issued with a Fidelity Fund certificate contemplated in section 47. |
every director of such a company, every member of such a close corporation, every trustee of such a trust and every partner of such a partnership, as the case may be, must have been issued with a Fidelity Fund certificate contemplated in section 47.
| (3) |
Any person who contravenes or fails to comply with subsection (1) is guilty of an offence. |
| (4) |
A person who contravenes or fails to comply with subsection (1) must, immediately upon receipt of a request from any relevant party in writing, repay any amount received in respect of or as a result of any property transaction during such contravention. |
| (5) |
A person who fails to comply with a request contemplated in subsection (4) is guilty of an offence. |
| (6) |
The provisions of this section apply irrespective of— |
| (a) |
what appellation a person or entity is described by; or |
| (b) |
whether he, she or it is registered, certified or appointed or acts in terms of or under or for purposes of any other Act. |
Diamonds Act, 1986
