“Disqualified Applicants” (no Act) Disqualifications relating to the issue of Fidelity Fund Certificates [Section 27 of The Estate Agency Affairs Act, 112 of 1976]

Applicants for fidelity fund certificates who are subject, amongst others, to the following disqualifications, must first comply with certain formalities to enable the Board to ascertain whether or not it would be in the interest of justice to issue such a fidelity fund certificate :

1. Dismissal from a position of trust by reason of improper conduct;

2. Conviction of an offense involving an element of dishonesty;

3. Insolvency;

4. Non-rendition of the prescribed auditor’s report;

5. Payment by the Board of a claim as a result of misappropriation by the applicant of trust monies.