Estate Agents Amendment Act
REPUBLIC OF SOUTH AFRICA
.GOVERNMENT GAZETTE
STAATSKOERANT
VAN DIE· REPUBLIEK VAN SUID-AFRIKA
Registered at the Post Office as· a Newspaper As 'n Nuusblad by die Poskantoor Geregistreer
VoL. 155]
. Price · 20c Prys
Overseas · · 30c Oorsee
. POST FRE~POSVRY
CAPE TOWN, 17._M~Y 1978
KAAPSTAD, 17 MEl 1978 [No. 6015
DEPARTMENT OF THE PRIME MINISTER DEPARTEMENT VAN DIE EERSTE MINISTER
No. 959. 17 May 1978. No. 959. 17 Mei 1978.
It is hereby notified that the State President has assented· to the following Act which is hereby published for general information:-
No. 60 of 1978: Estate Agents Amendment Act, 1978. · ·
Hierby word bekend gemaak dat die Staatspresident sy goedkeuring geheg bet aan die onderstaande Wet wat hierby ter algemene inligting gepubliseer word:-
No. 60 van 1978: Wysigingswet op Eiendomsagente, 1978.
Please note that most Acts are published in English and another South African official language. Currently we only have capacity to publish the English versions. This means that this document will only contain even numbered pages
as the other language is printed on uneven numbered pages.
GOVERNMENT GAZETTE, I? MAY 1978 No. 6015 3
ESTATE AGENTS AMENDMENT ACT, 1978. Act No. 60, 1978 · ·
GENERAL EXPLANATORY NOTE:
[ J Words in bold type in square brackets indicate omissions from existing enactments. . '' ;
. Words underlined with solid line indicate insertions in existing enactments. · ·
ACT To amend the provisions of the Estate Agents Act, 1976,
relating to the definition of "estate agent"; and to the application of the moneys in the Estate Agents Fidelity Fund; to provide that fidelity fund tertificates be issued s.,bject to certain conditions to certain categories of estate agents; relating to the decisions_ against _ which appeals may be lodged; to . the trust account which any estate agent shall open and keep with a bank; and to the power to make regulations; to validate a certain establishment and certain regulations and the perlormance of certain acts and the exercise of certain powers; and to provide for incidental matters. ·
· (Afrikaans iext signed by the Siate President.) (Assented to 2 May 1978.)
BE IT ENACfED by the State President, . the Senate and the House of Assembly of the Republic of South Africa, as
follows:- ·
1. Section 1 of the Estate Agents Act, l976-(hereinafter referred Am~ndment of 5 to as the principal Act), is hereby amended by the substitution for ~c:~~~21 ~f1976 subparagraph (iv) of paragraph (a) of the definition of "estate c 0 ·
agent'' of the following subparagraph: "(iv) [in addition to the performance of any act referred
to in subparagraph (i), (ii) or (iii), (aa) collects or 10 receives ·any inoneys payable oil account of a contract
of purchase and sale, including any agreement or , intermediate transaction as defined in section 1 of the
Sale of Land on Instalments Act, 1971 (Act No. 72 of 1971); or (bb) collects or receives any other moneys,
15 including insurance premiums, payable in respect of immovable property or any interest in immovable property or any business undertaking; or (cc)] renders any such other· service as the Minister on the recommendation of the board may specify from time to
20 time by notice in the Gazette;" .
. 2. ; Section 18 of the principal Act is hereby amended by the Am~ndment of substitution for subsection (1) of the following subsection: ~c:1~f218t{976 "(1) Subject to the provisions 'of this Chapter, the fund c 0 •
shall be held and applied to reimburse persons who suffer 25 : pecuniary loss by reason of theft, committed after the
- commencement ·of this Act, by an estaie agent-
30
(a) of any money or other property entrusted by or on . · - behalf of such persons 'to him in his capacity as an estate
agent; (b) of any moneys collected or received b him and payable
on account of a contract of purchase and sale, including any agreement or intermediate transaction as defined in
GOVERNMENT GAZETI'E, 17 MAY 1978 No. 6015 5
5
ESTATE AGENTS AMENDMENTACf, 1978.
section 1 of the Sale of Land on Instalments Act, 197~ (Act No. 72 of 1971); · · , ,
(c) of any other moneys, including insurance premiums, collecte_ d or .received by him and payable in respect o immovable property, any interest in immovable property
, or any business undertaking.''.
Ad No. 60, 1978
3. The following section is hereby substituted for section 27 ofSub~titution of the Pn'nct'pal Act· . . · . section 27 of · · · · Act 112 of 1976. "Disqualifi.-
1 0 ca~ions re- latmg to
27 .' INotwithstanding anything to the contrary contained in this Act] No fidelity .fund certificate shall be issued to· any estate agent who or, if such estate agent is a company, any company of which any
fidelity · fund cer-
. tificates. director-:-· ,
15
20
25
30
(a) has at any time by reason of improper conduct . been dismissed from a position of trust;
(b) has at any time been convicted of an offence · involving an element of dishonesty;
(c) : is im unrehabilitated insolvent; · (d) · is of unsound inind; or (e) has been dealt with in accordance with section
30 (3} (a): Provided that if in respect of any person who is subject to any disqualification referred to in this section, the board is satisfied that, with due regard to all the relevant considerations, the issue of a fidelity · fund certificate to such person will be in the interest of justice, the board may issue, on such conditions as the board with the concurrence of the Minister may determine, a fidelity fund certificate to such person
. when he applies therefor.".
4. Section 31 of the principal Act is hereby amended by the Amendment of substi~tion for all the words preceding paragraph (a) of the Asectio
1 n 12
3lfolf 976 followmg words: ct o ·
''Any person who feels aggrieved by any decision taken 35 by the board in the exercise of its powers under section 16,
27, 28 or 30 may, within a period of one month after the bOard-.''.
5. Section 32 of the principal Act is hereby amended by the Am~ndment of substitution for subsection (1) of the following subsection: ~~~f.£2f0{976 40 "(1) Every estate agent shall open and keep a separate ct 0 ·
45
50
55
trust account, which shall contain a reference to this section, with a bank and shall forthwith deposit therein the moneys held or received by him on account of any person.".
6. Section 33 of the principal Act is hereby amended- Amendment of (a) by the insertion after subsection (1) of the following section 33 of
subsection: Act 112 of 1976. "(lA) Different regulations may in terms of
subsection (1) be made in respect of different estate agents or categories of estate agents.' ';
(b) by the substitution for subsection (2) of the following subsection:
"(2) The Minister may, on such conditions as he may think fit and after consultation with the board, by regulation or by notice in writing, sent by post or delivered, exempt any estate agent or category of estate agents from any of or all the provisions of this Act.".
7. Notwithstanding anything to the contrary contained in any Validation of cer- law- Lain establi~hment
60 (a) the Estate Agents Board referred to in section 2 of the and ~ulauons and principal Act, shall be deemed to have been established of pe ormance of on 7 January 1977;
GOVERNMENT GAZETTE, 17 MAY 1978 No. 6015
ESTATE AGENTS AMENDMENT ACT, 1978. Ad No. 60, 1978
(b) any regulation which, at any time after the passing of cenai~ acts and . the principal Act but before the commencement thereof exercise of certam
. • powers. was purported to be promulgated m . terms of the principal Act, irrespective of whether such promulgation
5 was necessary for the purpose of bringing the principal Act into operation at the commencement thereof, is hereby validated as from the date on which it was so promulgated in so far as such regulation would have been valid if it were promulgated after the commence-
tO ment of the principal Act; (c) the performance of any act or the exercise of any power
by any person at any time after the passing of the principal Act but before the commencement thereof, irrespective of whether such perfonnance or exercise was
15 necessary for the purpose of bringing the principal Act into operation at the commencement thereof, is hereby validated as from the date on which such act was so performed or such power was so exercised in so far as such performance or ·exercise by such person would
20 have been valid if it had taken place after the commencement of the principal Act.
8. This Act shall be called the Estate Agents Amendment Act, Short title. 1978. .
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