Diamonds Act, 1986
R 385
Property Practitioners Act, 2019 (Act No. 22 of 2019)RegulationsProperty Practitioners Regulations, 2022Chapter 5 : Fidelity Fund Certificates23. Penalty for late FFC Applications |
| 23.1 | A property practitioner that fails to apply for a fidelity fund certificate when such person is obliged to do so under the provisions of the Property Practitioners Act 22 of 2019 shall pay a penalty in addition to the amount prescribed under section 32 (3) of R 125.00 in respect of each month or part of a month which has expired as between the date upon which such person was obliged to apply for a fidelity fund certificate and the date upon which they applied for a fidelity fund certificate, provided always that the aggregate amount of such penalty shall never exceed an amount equal to the amount prescribed under section 32 (3) as adjusted under the provisions of any regulations promulgated under the provisions of section 41 (2) from time to time. |
