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Estate Agents Amendment Act (No. 90 of 1998)

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To amend the Estate Agents Act, 1976, so as to substitute certain words; to amend or to insert certain definitions; to amend the objects of the Estate Agency Affairs Board; to further regulate appeals to the Board; to provide for grants and payments from the fidelity fund and the arrangement of group insurance schemes by the Board; to provide for the imposition of a penalty for the late application for the issue of a fidelity fund certificate or a registration certificate; to provide that the fidelity fund shall be obliged to pay compensation to a person who suffered a loss by reason of theft by an estate agent of trust money; to make further provision for the disqualifications relating to the issuing of fidelity fund certificates, and for the withdrawal of a fidelit y fund certificate and a registration certificate; to provide for the circumstances under which a fidelity fund certificate and a registration certificate shall lapse; to further regulate the grounds upon which an estate agent shall be guilty of conduct deserving of sanction; to provide anew for the penalties which the Board or a committee of inquiry may impose; to provide for the suspension of a fidelity fund certificate if a fine imposed by the Board is not paid within one month; to authorise the Board and a committee of inquiry to order that any portion of a fine imposed by it be applied to compensate any person who suffered a loss as a result of the conduct of the estate agent concerned; to authorise the Board to make a contribution from the fidelity fund towards the costs incurred by an estate agent who has been found not guilty on a charge of conduct deserving of sanction; to make further provision for the keeping of a trust account by an estate agent; to provide for circumstances  under which an estate agent shall not be entitled to remuneration; and to prohibit the drafting or completion of certain documents by estate agents who have not complied with the prescribed standard of training; and to provide for matters connected therewith.

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