Property Services (Regulation) Act 2011

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Number 40 of 2011


PROPERTY SERVICES (REGULATION) ACT 2011


ARRANGEMENT OF SECTIONS

PART 1

Preliminary and General

Section

1. Short title and commencement.

2. Interpretation.

3. Exemptions.

4. Application of this Act to principal officers and employees.

5. Laying of regulations and orders.

6. Expenses.

7. Repeals and revocation.

PART 2

Property Services Regulatory Authority

8. Establishment day.

9. Establishment of Property Services Regulatory Authority.

10. Membership of Authority and terms of membership.

11. Functions of Authority.

12. Meetings.

13. Membership of either House of the Oireachtas, European Parliament or local authority.

14. Advisory committees, consultants and advisers.

15. Non-disclosure of information.

16. Strategic plans.

17. Reports to Minister.

18. Codes of practice.

19. Chief Executive.

20. Staff of Authority.

21. Superannuation.

22. Accounts and audits.

23. Accountability of Chief Executive to Oireachtas Committee established to examine, etc., appropriation accounts, etc.

24. Accountability of Chief Executive to other Oireachtas Committees.

25. Power to charge and recover fees.

26. Advances by Minister to Authority.

27. Inspectors.

PART 3

Licences to Provide Property Services

28. Prohibition of unlicensed property service.

29. Register of licensees.

30. Application for licence.

31. Issue or refusal of licence.

32. Tax clearance.

33. Documents to accompany certain applications.

34. Notification to applicant of refusal to issue licence, etc.

35. Renewal of licence.

36. Notification to applicant of refusal to renew licence, etc.

37. Display and production of licences.

38. Offence to use licence issued to another person.

39. Issue of replacement licence, etc.

40. Surrender and seizure of licence following suspension or revocation, etc.

41. Notification of material matter to Authority.

42. Provision of information by Garda Síochána.

PART 4

General Obligations of Licensees

43. Letter of engagement.

44. Retention of records.

45. Professional indemnity insurance.

PART 5

Client Accounts and Related Matters

46. Keeping and preservation of client accounts and records.

47. Offences relating to client accounts and accounting records.

48. Control of banking accounts or assets of licensees.

49. Priority of claims to client moneys.

50. Preservation of lien and other rights.

51. Provisions regarding banks.

52. Vesting in Official Assignee of sums to credit of certain client accounts.

53. Provisions relating to client accounts in event of bankruptcy.

54. Power of Authority to deal with documents.

PART 6

Sale or Letting of Land

55. Vendor to be given statement of advised market value, etc.

56. Estimate of selling price not to be less than advised market value, etc.

57. Evidence of reasonableness of advised market value.

58. Sale by auction.

59. Disclosure requirements applicable to vendor and licensee in relation to sale of residential property.

60. Prohibition on provision of financial services, etc.

61. Retention of records where sale of land other than by auction.

62. Regulations under Part 6.

PART 7

Complaints, Investigations and Sanctions

63. Complaints against licensees.

64. Circumstances in which application may be made to High Court for immediate suspension of licence, etc.

65. Investigations.

66. Powers of entry and inspection, etc., of inspectors for purposes of investigation.

67. Protection for persons reporting improper conduct, etc.

68. Actions to be taken by inspector and Authority upon completion of investigation.

69. Confirmation of High Court required before decision under section 68(4)(a) to impose major sanction takes effect.

70. Appeal to High Court against decision to impose major sanction.

71. Application to High Court to confirm decision to impose major sanction.

72. Provisions supplementary to sections 70 and 71.

73. Matters to be considered in determining sanctions to be imposed.

PART 8

Appeals Against Certain Decisions of Authority

74. Property Services Appeal Board.

75. Appeal to High Court on question of law.

76. Taking effect of certain decisions of Authority.

PART 9

Property Services Compensation Fund

77. Property Services Compensation Fund.

78. Compensation for loss due to dishonesty.

PART 10

Maintenance of Professional Competence of Licensees

79. Regulations may provide for professional competence schemes.

80. Review of professional competence scheme.

81. Duty of licensees to maintain professional competence.

PART 11

Property Services Provided by Certain Persons from EU Member States

82. Interpretation of Part 11> and Schedule 7.

83. Application of this Act to relevant persons.

84. Relations with competent authorities.

85. Effect of revocation or suspension of relevant person’s relevant authorisation.

PART 12

Residential Property Sales Prices and Commercial Leases Database

86. Residential property sales prices.

87. Database of commercial property leases.

88. Tenants to provide Authority with particulars of relevant commercial leases.

PART 13

Miscellaneous

89. Investigation of persons other than licensees.

90. Certain provisions to be void.

91. Publication of sanctions, etc.

92. Receipt of notice.

93. Restriction of Data Protection Act 1988.

94. Offences — general.

95. Regulations that may be made by Authority — general.

96. Regulations that may be made by Minister — general.

97. Power to specify form of documents.

98. Interpretation of transitional provisions.

99. Application of this Act to persons who were lawfully providing property service before commencement of relevant provisions of this Act in respect of that service.

100. Modification of operation of section 99(1) in specified circumstances.

101. Consequential amendments to other enactments.

SCHEDULE 1

Repeals and Revocations

PART 1

Acts Repealed

PART 2

Statutory Instrument Revoked

SCHEDULE 2

Information to be Contained in Property Services Agreements

PART 1

Property Services Agreements — general

PART 2

Property Services Agreements for Sale of Land

PART 3

Property Services Agreements for Letting of Land

PART 4

Property Services Agreements for Provision of Property Management Services

SCHEDULE 3

Provisions applicable to Oral Hearings conducted pursuant to section 66 or 68

PART 1

Oral Hearing conducted by inspector pursuant to section 66 (15)

PART 2

Oral Hearing conducted by Authority pursuant to section 68 (5)

SCHEDULE 4

Redress for Contravention of section 67 (5)

SCHEDULE 5

Provisions in respect of Property Services Appeal Board

PART 1

General

PART 2

Appeals

SCHEDULE 6

Provisions Applicable to Administration of Property Services Compensation Fund

SCHEDULE 7

Modifications of this Act in Relation to Relevant Persons

SCHEDULE 8

Consequential Amendments to Other Enactments


Acts Referred to

Animals Act 1985

1985, No. 11

Auctioneers and House Agents Act 1947

1947, No. 10

Auctioneers and House Agents Act 1967

1967, No. 9

Auctioneers and House Agents Act 1973

1973, No. 23

Bankruptcy Act 1988

1988, No. 27

Building Societies Act 1989

1989, No. 17

Casual Trading Act 1995

1995, No. 19

Central Bank and Financial Services Authority of Ireland Act 2004

2004, No. 21

Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010

2010, No. 24

Civil Service Regulation Acts 1956 to 2005

Companies Act 1963

1963, No. 33

Companies Act 1990

1990, No. 33

Companies Acts

Companies (Amendment) Act 1982

1982, No. 10

Comptroller and Auditor General (Amendment) Act 1993

1993, No. 8

Consumer Credit Act 1995

1995, No. 24

Criminal Justice Act 2011

2011, No. 22

Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

2010, No. 6

Data Protection Act 1988

1988, No. 25

Data Protection (Amendment) Act 2003

2003, No. 6

Debtors (Ireland) Act 1840

1840, (3 & 4 Vict.) c. 105

Deeds of Arrangement Act 1887

1887, (50 & 51 Vict.) c. 57

Ethics in Public Office Act 1995

1995, No. 22

European Parliament Elections Act 1997

1997, No. 2

Family Law Act 1995

1995, No. 26

Family Law (Divorce) Act 1996

1996, No. 33

Finance Act 2002

2002, No. 5

Firearms Act 1964

1964, No. 1

Housing (Miscellaneous Provisions) Act 1992

1992, No. 18

Land and Conveyancing Law Reform Act 2009

2009, No. 27

Landlord and Tenant (Amendment) Act 1980

1980, No. 10

Local Government Act 2001

2001, No. 37

Merchant Shipping (Salvage and Wreck) Act 1993

1993, No. 34

Multi-Unit Developments Act 2011

2011, No. 2

Pawnbrokers Act 1964

1964, No. 31

Petty Sessions (Ireland) Act 1851

1851, (14 & 15 Vict.) c. 93

Pounds (Provisions and Maintenance) Act 1935

1935, No. 17

Protection of Employees (Employers’ Insolvency) Act 1984

1984, No. 21

Protection of Employees (Fixed-Term Work) Act 2003

2003, No. 29

Public Service Management (Recruitment and Appointments) Act 2004

2004, No. 33

Registration of Business Names Act 1963

1963, No. 30

Sale of Land by Auction Act 1867

1867, (30 & 31 Vict.) c. 48

Sea Fisheries Act 1952

1952, No. 7

Social Welfare Consolidation Act 2005

2005, No. 26

Stamp Duties Consolidation Act 1999

1999, No. 31

Succession Act 1965

1965, No. 27

Taxes Consolidation Act 1997

1997, No. 39

Unfair Dismissals Act 1977

1977, No. 10

Unfair Dismissals Acts 1977 to 2007

Valuation Act 2001

2001, No. 13

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Number 40 of 2011


PROPERTY SERVICES (REGULATION) ACT 2011


AN ACT TO PROVIDE FOR THE ESTABLISHMENT OF A BODY, TO BE KNOWN AS AN tÚDARÁS RIALÁLA SEIRBHÍSÍ MAOINE OR, IN THE ENGLISH LANGUAGE, THE PROPERTY SERVICES REGULATORY AUTHORITY, TO CONTROL AND SUPERVISE THE PROVIDERS OF PROPERTY SERVICES, TO CAUSE ANY COMPLAINTS AGAINST THOSE PROVIDERS TO BE INVESTIGATED AND TO ADJUDICATE ON ANY SUCH COMPLAINTS; TO PROVIDE FOR THE ESTABLISHMENT OF A BODY TO BE KNOWN AS AN BORD ACHOMHAIRC UM SHEIRBHÍSÍ MAOINE OR, IN THE ENGLISH LANGUAGE, THE PROPERTY SERVICES APPEAL BOARD, TO HEAR AND DETERMINE APPEALS AGAINST CERTAIN DECISIONS OF THE AUTHORITY; AND TO PROVIDE FOR TAKING ACCOUNT OF DIRECTIVE 2006/123/EC IN SO FAR AS IT RELATES TO PROPERTY SERVICES; TO PROVIDE FOR THE CONSEQUENTIAL REPEAL OR AMENDMENT OF CERTAIN ENACTMENTS AND THE REVOCATION OF A STATUTORY INSTRUMENT; AND FOR RELATED MATTERS.

[20th December, 2011]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: