The Ministry of Government and Consumer Services is seeking input on draft regulatory amendments
to the insurance requirements under Regulation 579/05 of the Real Estate and Business Brokers Act, 2002
(REBBA). The proposed amendments are intended to modernize the regulation and ensure RECO can continue to obtain the required coverage in the insurance marketplace.
This posting is the second regulatory posting on this topic. In March 2015, the Ministry posted a policy paper for public consultation. The draft regulatory amendments include proposals that were consulted on in March 2015, as well as two additional technical amendments to remove restrictions associated with coverage under both the deposit insurance and commission protection insurance.
The Ministry of Government and Consumer Services welcomes feedback on the proposal. Interested parties can respond by e-mail to: email@example.com.