The Property Practitioners Bill was signed into law in 2019 by President Cyril Ramaphosa. The Bill will henceforth be known as Act 22 of 2019.
Act 22 of 2019 aims to provide more transparency in the real estate industry, better regulation of property practitioners, more opportunities for transformation as well as the establishment of a transformation fund.
Furthermore, the Act also provides for consumer protection, compliance with, and enforcement of the provisions of the Act.
The act will come into operation on February 1st 2022
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