WITHDRAWAL AND LAPSE OF FIDELITY FUND CERTIFICATES
The board, the executive committee or a committee of inquiry may withdraw a fidelity fund certificate issued to any person
a) who has been summoned in the prescribed manner to appear before the board or any committee of inquiry if such person without just cause fails to comply with the summons and prior to the date of the appearance stated in the summons, has not been excused in writing by the board or the committee of inquiry, as the case may be, from so appearing;
b) if that person is a company or a close corporation, and the fidelity fund certificate of any director of the company or of any member of the corporation has lapsed in terms of subsection (5);
c) if such person or, if such person is a company, any director of that company or, if such person is a close corporation, any member referred to in paragraph
(b) of the definition of 'estate agent', of that corporation, becomes subject to any disqualification referred to in section 27(a)(vi) or (vii), (aA) or (b).
2) Any person who has in his possession or under his control any fidelity fund certificate withdrawn in terms of subsection (1), shall at the request of the board return such certificate to the board.
3) The court may, on good cause and upon application by the board or any other competent person, withdraw any fidelity fund certificate issued to any person, and thereupon such person or any other person having such certificate in his possession or under his control shall forthwith return it to the board.
4) If it appears to the court that a person in respect of whom the board intends making an application under subsection (3) or section 32(6), has left the Republic and that he probably does not intend to return to the Republic and that his whereabouts are
unknown, the court may order that service on that person of any process in connection with such application may be effected by the publication of such process in an Afrikaans and an English newspaper circulating in the district in which the said person's last known business address, as entered in the records of the board, is situated.
5) A fidelity fund certificate issued to any person shall lapse immediately and be of no force and effect if that person -
a) becomes subject to the any disqualification referred to in section 27(a)(i) to (v);
b) is a company or a close corporation, and the company or close corporation is being wound up, whether provisionally or otherwise, or is deregistered, as the case may be.
6) Any person who is in possession or control of a fidelity fund certificate which has lapsed in terms of subsection (5) shall forthwith return that certificate to the board.
7) No person whose fidelity fund certificate has been withdrawn in terms of subsection (1) or has lapsed in terms of subsection (5), may directly or indirectly participate in the management of any business carried on by an estate agent in his or her capacity as such, or participate in the carrying on of such business, or be employed, directly or indirectly, in any capacity in such business, except with the written consent of the board and subject to such conditions as the board may determine.
8) No estate agent shall directly or indirectly in any capacity whatsoever employ a person referred to in subsection (7), or allow or permit such person directly or indirectly to participate in any capacity in the management or the carrying on of his or her business as an estate agent, except with the written consent of the board, and subject to such conditions as the board may impose.