Property Practitioners

1. By submitting an application form for the issue of a Fidelity Fund Certificate (FFC) you declare that:

• You agree and comply with all the contents of the Property Practitioners Act 22 of 2019,
• You will abide with all registration requirements and terms and conditions set out in the Property Practitioners Act, and any other related legislations,
• You will provide to the Property Practitioners Regulatory Authority (PPRA) all the required documents necessary for registration purposes and
• You have answered all the questions overleaf.

2. Each applicant completing a registration form must indicate on the appropriate field of the application form the ‘FIC Accountable Institution Numbed of both the firm and themselves.

3. Each foreign national registering with the Authority to be issued with a valid FFC, must submit a valid work permit issued by the Department of Home Affairs. The PPRA has the right to either accept or reject any of the documents indicated if it is of the opinion that such document does not satisfy any of the PPRA registration requirement for the issue of a valid FFC.

4. Requirements for registration to be issued with a valid Fidelity Fund Certificate
4.1. CANDIDATE PROPERTY PRACTITIONER

The Candidate Property Practitioner must undergo a minimum 6 months internship programme under the supervision of a qualified Principal Property Practitioner of a registered Principal Property firm. During the internship programme, the candidate property practitioner must acquire a NQF Level 4 qualification. The following documents must be submitted:

• A fully completed and signed application form;
• Certified Identity Document (ID) copy,
• Letter of employment from the business property practitioner confirming employment and signed by both the principal property practitioner and candidate property practitioner and the prescribed fees.

4.2. NON-PRINCIPAL PROPERTY PRACTITIONER

To be registered as a non-principal property practitioner, the applicant must have served a minimum of 6 months internship programme under the supervision of a qualified principal property practitioner of a registered business property practitioner, and acquired a NQF Level 4 qualification. The following documents must be submitted:

• A fully completed and signed application form,
• Certified Identity Document (ID) copy,
• Letter of employment from the business property practitioner confirming employment of the applicant signed by both the principal property practitioner and the non-property practitioner,
• An internship letter from the principal property practitioner indicating that a minimum of 6 Months internship programme has been served and
• A NQF Level 4 qualification.

4.3. PRINCIPAL PROPERTY PRACTITIONER

To register as a principal property practitioner, that is, a director of a company, a member of a close corporation, a partner in a partnership or a sole proprietor, a person must be qualified to act as a non-principal property practitioner and be in possession of a NQF Level 5 qualification and submit the following:

• A fully completed and signed application
• form,
• Certificate Identity Document (ID) copy,
• A NQF Level 5 qualification and
• Applicant must renew for the year the principal application is made.

5. The candidate property practitioner and a non-principal property practitioner are required to be employed by only one business property practitioner; however, principal property practitioner may be employed by more than one business property practitioners.

6. The PPRA will issue the fidelity fund certificate and registration certificate or registration certificate to the property practitioner concerned and only on the issue of the FFC certificates, may such a property practitioner commence to practice.

7. Each business property practitioners which has registered with the PPRA is required to immediately register with Financial Intelligence Centre (FIC) in terms of Section 43(b) of the Financial Intelligence Centre Act No 38 of 2001 as amended (FICA).

8. Each person who has just registered with the PPRA as an property practitioner is required to immediately register with FICA in terms of Section 43(b) of the Financial Intelligence Centre Act No 38 of 2001 as amended.

9. Any person practicing as a property practitioner without a valid fidelity fund certificate and registration certificate shall not be entitled to any remunerations in terms of Section 56 of the PPA.

10. Any FFC issued in error shall be withdrawn and immediately recalled.

11. The property practitioner who ceases, or wish to cease practicing as such, are required to inform the PPRA in writing.