2017 FFC RENEWAL FEES AND PROCESS

EAAB Logo

24 June 2016

The Estate Agency Affairs Board (EAAB) wishes to advise estate agents that the renewal period for the 2017 Fidelity Fund Certificates (FFCs) will commence on 1 August 2016 (instead of the 1st of July as in previous years) and close on 31 October 2016.

Any payment of the renewal fee for 2017 FFCs made after 31 October 2016 will attract the monthly penalty for late renewal.

The new renewal fees payable for the FFCs for 2017 and subsequent years were published by the Minister of Human Settlements on 26 February 2016 in Government Gazette No 39743.

The penalties for late payment of renewal fees for FFCs for 2017 and subsequent years were also published by the Minister of Human Settlements on 19 February 2016 in Government Gazette No 39719. The detailed schedule of the new fees is available on https://www.eaab.org.za/registrations/schedule_of_fees.

Please read this important notice from the EAAB below:-

2017 FFC Renewal Fees and Process

 

Chairpersons Address – REBOSA AGM 24 June 2016 – Dr A Golding

CHAIRMAN’S REPORT
REBOSA AGM
HELD ON 24 JUNE 2016 AT SOUTHERN SUN, O.R. TAMBO INTERNATIONAL AIRPORT, JOHANNESBURG
___________________________________________________________________

1.WELCOME AND INTRODUCTION

Good morning.

It’s my pleasure to welcome you all to this the third annual general meeting of the Real Estate Business Owners of South Africa (REBOSA) – thank you for being here, your presence is most valued and appreciated.

 It is my privilege to deliver the Chairman’s report for REBOSA for the past twelve months.

I’m delighted to report that the organisation has again achieved significant progress and success over the past 12 months on a number of fronts.  As a consequence of this progress –  which I hope to give you a sense of during the course of this report – REBOSA continues to be the most  significant, serious, credible and noteworthy organisation representative of Real Estate business owners in the country and as a consequence of the agents and staff  that work in their agencies.

Continuing on from the excellent work of the past two years since the inception of the organisation, there have been a number of significant highlights achieved over the past twelve months. 

Read moreChairpersons Address – REBOSA AGM 24 June 2016 – Dr A Golding

THE FUTURE OF PROPERTY RIGHTS

fwdk-logo-web

SPEECH BY MR DAVE STEWARD – FW de  Klerk Foundation

Presented to the REBOSA Annual General Meeting

24 June 2016 in Kempton Park

I would like to speak to you on the important topic of property rights – and the threat to property rights that is posed by current legislation – and particularly by the new Expropriation Bill that is awaiting President Zuma’s signature before it becomes law.

The success of South Africa’s historic constitutional negotiations depended on a continuous search for balance between the often diametrically opposed demands of the main parties.  In particular, the parties had to try to find a balance:

  • between those who had much to lose and those who had much to gain;
  • between the need for national unity and the need to preserve our rich and varied cultural and linguistic heritage;
  • between the concerns of minorities, and the demands of the majority; and
  • between the need for stability and the need for change.

All reasonable participants in the negotiations accepted that the new constitution would need to have a strong transformational character.  Any attempt to cast in stone the then prevailing social, economic and political relations would be neither acceptable nor tenable. 

Read moreTHE FUTURE OF PROPERTY RIGHTS

AUDIT REPORT SUBMISSIONS: FIC ORG ID NUMBERS

EAAB Logo

23 June 2016

It has come to our attention that a number of principals of estate agents are having difficulties or experiencing delays in obtaining their new Org ID Numbers from the Financial Intelligence Centre (FIC) or activating their Org ID numbers.

We hereby advise that it will be acceptable for the auditor to leave blank the field of the Org ID number (or indicate “No Org ID”) when submitting the audit report online in instances where the principal or Compliance Officer of the estate agency is not in possession of the activated Org ID number. 

Read moreAUDIT REPORT SUBMISSIONS: FIC ORG ID NUMBERS

IT3b CERTIFICATES, FIC REGISTRATION NUMBERS AND YEAR-END CHANGES

EAAB Logo

20 June 2016

 

The Estate Agency Affairs Board wishes to bring the following to the attention of principals of estate agencies and their auditors.

IT3b Certificates

A notification was issued on 1 June 2015 in relation to IT3b certificates and that notification is still effective for the 2016 financial year and all financial years thereafter. In terms of that notification, it will be acceptable for the auditor to attach a covering letter (in place of the IT3b certificate) explaining the reasons why the IT3b certificate could not be obtained and attached when submitting the audit report online. The delays or difficulties in obtaining the IT3b certificates from banks should not delay the submission of the audit reports within the prescribed four months after the financial year end. 

Read moreIT3b CERTIFICATES, FIC REGISTRATION NUMBERS AND YEAR-END CHANGES

ANNOUNCEMENT ON THE IMPLEMENTATION BY THE ESTATE AGENCY AFFAIRS BOARD OF A POLICY FOR THE GRANTING OF EDUCATIONAL EXEMPTIONS TO NON-EXECUTIVE DIRECTORS OF ESTATE AGENCY COMPANIES

EAAB Logo

IMMEDIATE RELEASE

In accordance with the provisions of the Education Regulations all directors of an estate agency company must be certificated against the NQF Level 5 real estate qualification (National Certificate: Real Estate) and have passed the Professional Designation Examination for principal estate agents (PDE5) to enable such directors to be issued with a valid fidelity fund certificate as required by section 26 of the Estate Agency Affairs Act. 

Read moreANNOUNCEMENT ON THE IMPLEMENTATION BY THE ESTATE AGENCY AFFAIRS BOARD OF A POLICY FOR THE GRANTING OF EDUCATIONAL EXEMPTIONS TO NON-EXECUTIVE DIRECTORS OF ESTATE AGENCY COMPANIES