The court also wants full disclosure of the total funds currently held by the EAAB in its suspense account. The EAAB also has 30 days to detail all the approved and declined applications made to the EAAB on or before 31 October 2020 for a FFC for the year commencing 1 January 2021.
Chairperson of REBOSA Tony Clarke says, “Rebosa fully supports the role of the Estate Agency Affairs Act in promoting better transparency, disclosure, accountability and governance in our industry.”
“We simply need the legislation implemented effectively in order for it to have the desired effect.”
The high court ruling also follows a forensic audit of the EAAB Fidelity Fund ordered by the Minister for Human Settlements, Water and Sanitation, Lindiwe Sisulu at the beginning of March.
The scope of the Minister’s audit is expected to cover the last 24 months of Fidelity Fund transactions, investments and processes; EAAB staff appointments; tenders and procurement processes; and legal matters attended and financed by the EAAB