The Authority may not issue a Fidelity Fund certificate to—
| (i) |
is not a South African citizen and does not lawfully reside in the Republic; |
| (ii) |
has, at any time in the preceding five years, been found guilty of contravening this Act, the Estate Agency Affairs Act, or any similar legislation in any other jurisdiction; |
| (iii) |
has been found in any civil or criminal proceedings by a court of law, whether in the Republic or elsewhere, to have acted fraudulently, dishonestly, unprofessionally, dishonourably or in breach of a fiduciary duty, or of any other offence for which such person has been sentenced to imprisonment without the option of a fine; |
| (v) |
has, at any time in the preceding five years by reason of improper conduct, been dismissed from a position of trust; |
| (vi) |
is an unrehabilitated insolvent; |
| (vii) |
is not in possession of a valid tax clearance certificate; |
| (viii) |
has been prohibited by any legislation, enacted in the Republic or elsewhere, from practicing as a property practitioner or from occupying a position of trust, including any juristic person to whom the disqualifications in subparagraphs (ii), (iii), (vi) and (vii) apply with the necessary changes; |
| (ix) |
has been found guilty by a competent tribunal or a court of law of unfairly differentiating, distinguishing or excluding directly or indirectly anyone on the basis of race, gender, sex, pregnancy, marital status, ethnic or social origin, colour, sexual orientation, age, disability, religion, conscience, belief, culture, language and birth; |
| (x) |
is not in possession of a valid BEE certificate; |
| (b) |
any property practitioner who or, if such property practitioner is a company, any director or member of management of that company, or if such property practitioner is a close corporation, any member referred to in paragraph (a) of the definition of ‘‘property practitioner’’ in section 1, or if such property practitioner is a trust, any trustee, or if such property practitioner is a partnership, any partner, who— |
| (i) |
in the preceding five years has been found guilty of contravention of this Act or the Estate Agency Affairs Act, 1976; |
| (ii) |
does not comply with the prescribed standard of training; |
| (iii) |
does not have the practical experience determined by the Authority; or |
| (iv) |
has at any time been guilty of any act or omission in respect of which any person had to be compensated pursuant to the provisions of section 38 from the Fund, unless the property practitioner has repaid the relevant amount in full to the Authority, or the Authority is of the opinion that satisfactory arrangements for the settlement of such amount have been made and has confirmed such arrangements; |
| (c) |
any property practitioner contemplated in paragraph (a) of the definition of ‘‘property practitioner’’ in section 1, if such property practitioner carries or intends to carry on business as a property practitioner under a trade name which is identical or confusingly similar to the trade name of another property practitioner— |
| (i) |
already issued with a Fidelity Fund certificate; or |
| (ii) |
whose Fidelity Fund certificate is suspended or has lapsed or been withdrawn in terms of this Act; or |
| (d) |
any property practitioner who is a director of a company, or who is a member referred to in paragraph (b) of the definition of ‘‘property practitioner’’ in section 1 of a close corporation— |
| (i) |
of which the Fidelity Fund certificate was withdrawn by the Authority in terms of section 52; or |
| (ii) |
which was prohibited in terms of section 48 from operating in any way on its trust, savings or other interest-bearing accounts referred to in terms of that section. |
Diamonds Act, 1986
