Strict BEE rule in South Africa officially scrapped

• The Property Practitioners Regulatory Authority (PPRA) will no longer require a BEE certificate to issue Fidelity Fund Certificates (FFCs) to property practitioners.
• The High Court ruled that provisions of the Property Practitioners Act (PPA) are unconstitutional and set them aside, declaring that the need for a BEE certificate is not required.
• The court's declarations still need to be confirmed by the Constitutional Court before taking effect, and changes to the definitions are in a similar position.