In June 2022, the Property Practitioners Regulatory Authority (PPRA) extended the deadline to 31 January 2023 for property practitioners who had not yet complied with the professional development education (PDE) requirements for the granting of fidelity fund certificates (FFCs).
Since issuing the deadline, the PPRA has received several requests from property practitioners and their representative bodies to consider extending the compliance deadline. This is because there have been delays in issuing qualification certificates from the Services Sector Education and Training Authority (SSETA), making it impossible for some property practitioners to comply with the 31 January deadline.
After careful consideration, the PPRA board has issued a proclamation that the deadline to comply has been extended to 30 June 2023.
Recognition of Prior Learning
The PPRA is also inviting affected and eligible property practitioners to undergo the Recognition of Prior Learning (RPL) programme through RPL Centres approved by the SSETA to ensure compliance by 30 June.
RPL is a process through which previous experience and informal learning are measured, mediated for recognition across different contexts, and certified against the requirements for credit, access, inclusion or advancement in the formal education and training system or the workplace.
You can access the national policy for the implementation of RPL here.
FFCs
In terms of Section 50 (b)(ii) of the Property Practitioners Act (PPA), the PPRA may not issue fidelity fund certificates (FFCs) to any person who does not comply with the prescribed standard of training and the necessary practical experience.
The authority also has the power to withdraw FFCs from any firm or individual who becomes non-compliant due to failing to meet the issued standards of training and experience.
The consequences of not obtaining – or losing – FFCs mean that affected property practitioners may not carry out business in the property industry without the written consent of the PPRA and are subject to the conditions that the authority may determine.
However, section 52(9) of the PPA provides that a person, partnership or trust whose FFC has been withdrawn may re-apply for a certificate when they again qualify.
The PPRA is encouraging all non-compliant property practitioners to take up the RPL opportunity and use their time to ensure compliance before the 30 June 2023 deadline, which it says will not be extended further.
Writer: Sarah-Jane Meyer