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Estate Agency Affairs Act, 1976 (Act No. 112 of 1976)

Notice No. R.631

Notice on Exemption of a category of Estate Agents from the Prescribed Standard of Training

 

 

Department of Trade and Industry

23 June 2000

 

The Minister of Trade and Industry has, after consultation with the Estate Agency Affairs Board, under section 33(2) of the Estate Agency Affairs Act, 1976 (Act No. 112 of 1976), made the regulations in the Schedule.

 

Definitions

 

1) In these regulations any word or expression defined in the Estate Agency Affairs Act, 1976 (Act 112 of 1976) (the Act), shall have that meaning, and unless the context otherwise indicates--

 

‘prescribed standard of training’ means the standard of training prescribed by regulation in terms of section 33(1)(gA) of the Act.

 

2) The following category of estate agents are exempted from the prescribed standard of training:
i) All degreed persons who have obtained their qualifications from tertiary institutions within the Republic of South Africa provided that the course of study included a course in both property law and law of contracts, or a commercial or economics course dealing with property financing and financial calculations;
ii) Members of the Royal Institute of Chartered Surveyors;
iii) Persons possessing other tertiary qualifications deemed to be of similar standing to a degree, such as:-

Holders of certificates in the Theory of Accounting or certificates of the Institute of Secretaries; Holders of Diplomas in Architecture, Quantity Surveying and other similar fields; as well as all such other relevant diplomas which indicate that the holders thereof had undertaken an advanced course, or courses of study, in property law, economics, or commercial and mercantile law.

iv) Persons having passed the Certificate of the Institute of Estate Agents; Business Economics 206-W at the University of South Africa; or the Property Marketing II segment of the Diploma in Real Estate presented by Technikon Southern Africa.

 

3) This regulation shall come into effect on the date of publication. (Published on 23 June 2000.)

 

 

Minister of Trade and Industry