2016- 2017 Scorecard Certificate Collection

The Property Sector Charter Council (PSCC) office is embarking on a reporting process as required by law.

Both the BBBEE Act notice 112 of 2007 (Gov Gazette 29617) clause no. 5.4.2.2 and the constitution of PSCC compels and imposes the executive authority and responsibility on the PSCC to “compile annual reports on the state of BBBEE within the Property Sector based in relation to the transformational objectives set out in the Sector Code”. Pursuant to this, the PSCC will therefore collect and capture all scorecard data from Sampled Property Measured Entities for the period between 2016-2017.  

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Financial Intelligence Centre Amendments in Terms of FIC Act 1 of 2017

Following the Financial Intelligence Centre’s Road Show for accountable and reporting institutions in Cape Town on 24 October, please find below brochures on compliance obligations in terms of the Act and how to register and update details with the FIC.

Compliance Supervision and Enforcement in Terms of the FIC ACT

How to Register and Update Details with the FIC

Suspicious and Unusual Transaction Reporting

The Financial Intelligence Centre and the FIC Act

Accountable Institutions Compliance Obligations in Terms of the FIC Act

 

DRAFT GUIDANCE ON THE IMPLEMENTATION OF NEW MEASURES TO BE INTRODUCED BY THE FIC AMENDMENT ACT, 2017

Thursday, 15 June 2017: The Minister of Finance has announced the coming into operation of a number of provisions of the Financial Intelligence Centre Amendment Act, 2017 (the FIC Amendment Act).  According to this announcement the implementation of the provisions of the FIC Amendment Act that provide for the following, will start on 2 October 2017:  

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PROPERTY PRACTITIONERS BILL: PUBLIC PARTICIPATION HEARINGS

The Property Practitioners Bill is intended to repeal the current Estate Agency Affairs Act, 1976 (Act No. 112 of 1976)  Its objective is to respond to the changing market conditions which over the years increasingly saw the property transaction processes gaining momentum, importance and value.

As part of this law making activity, public participation hearings will be held across the country.  The process is promoting and encouraging an all inclusive and meaningful engagements that will assist the Department of Human Settlements in fulfilling its constitutional obligation, which requires that all interested parties or institutions that will be affected by the Bill must make or submit written comments.  

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INVITATION TO COMMENT ON THE DRAFT REGULATIONS IN TERMS OF THE PROPERTY VALUATION ACT 17 OF 2014

The Minister of Rural Development and Land Reform hereby invites interested persons or bodies to provide written comments on the Regulations made in terms of the Property Valuation Act, 2014 (Act No. 17 of 2014) „PVA‟, as set out in the Schedule hereto.  

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NATIONAL QUALIFICATIONS FRAMEWORK ACT, 2008 (ACT NO. 67 OF 2008)

Minister Bonginkosi Emmanuel Nzimande has published the Guidelines on Strategy and Priorities for the National Qualifications Framework 2017/18 in terms of Section 8 (2) (c) of the National Qualifications Framework Act, 2008.

The guidelines give direction to the work of the South African Qualifications Authority (SAQA) and the Quality Councils for the period 1 April 2017 to 31 March 2018.

NQF Guidelines on Strategies and Priorities 40840_gon417

COMMENTS ON THE HOME LOAN AND MORTGAGE DISCLOSURE AMENDMENT BILL, APRIL 2017

BACKGROUND

The Home Loan and Mortgage Disclosure Act 63 of 2000 was enacted in 2000.

It established an Office of Disclosure and requires of financial institutions to provide certain information regarding the provision of home loans to it. As end goal it aims to promote fair lending practices.  

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