In the residential property sector most of those who have studied the new Consumer Protection Act agree with Bonani that it very definitely lacks clarity and is difficult to interpret.

The regulatory powers of the Estate Agency Affairs Board needed to be strengthened so it could govern the industry more effectively, Department of Trade and Industry acting director-general Lionel October said on Friday.

Wendy Machanik Properties was dealt a massive blow late last month when a judge ordered that its trust accounts be placed under the control of an independent curator.

Wendy Machanik Property Holdings has had its trust accounts placed under curatorship following alleged financial irregularities in the management of the accounts.