REMINDER BEE COMPLIANCE AND SKILLS DEVELOPMENT CUT-OFF DATE

We would like to remind all principal property practitioners of the importance of Black Economic Empowerment (BEE) compliance in accordance with the Property Practitioners Act, as well as the upcoming cut-off date for skills development. As outlined in section 50(a)(x) of the Property Practitioners Act, it is mandatory for all principal property practitioners to possess a valid BEE certificate.
Failure to comply with this requirement may result in the inability to obtain or renew a fidelity fund certificate.
 
Furthermore, we wish to emphasize that the deadline for skills development compliance is fast approaching. April 30th, 2024 marks the cut-off date for the submission of your Workplace Skills Plans (WSP) and Annual Training Reports (ATR). It is imperative that all principal property practitioners whose salary bill is greater than R500k ensure they have met this requirement by the specified deadline in order to ensure that points from the skills element can be verified.
 
The Property Practitioners Regulatory Authority (PPRA) is committed to promoting diversity and inclusivity within the real estate industry, and BEE compliance is a crucial step towards achieving this goal.
 
We urge all property practitioners to take immediate action to ensure compliance with BEE regulations and to meet the skills development deadline. Failure to do so may result in regulatory consequences.
 
Thank you for your attention to this matter. Should you have any questions or require further assistance, please do not hesitate to contact us on debra.vial@theppra.org.za and we will put you in contact with all the BEE experts and presenters of the Webinar held on March 13th, 2024.
 
 
Ms Thato Ramaili
Chief Executive Officer
Property Practitioners Regulatory Authority
 
10 April 2024

 



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