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

Regulations

Purchase

28.1	Should a property practitioner open a separate savings account in respect of trust monies that have no immediate purpose as permitted under section 54 (2) (b) of the Act, the property practitioner must immediately after opening such account notify the Authority of—

28.1.1

name of financial institution at which the account is held;

28.1.2

branch at which the account is held and branch code;

28.1.3

name of accountholder;

28.1.4

account number; and

28.1.5

type of account.