I propose to take Questions Nos. 500 and 501 together.
The Property Services Regulatory Authority (PSRA) was formally established on 3 April 2012 pursuant to the Property Services (Regulation) Act 2011. One of the main statutory functions of the PSRA is the licensing of property service providers, i.e. auctioneers, letting agents and property management agents. The Authority is independent in the performance of its functions.
The 2011 Act provides for the licensing of all persons engaged in the provision of property services. Applicants for a Property Services Provider's licence must meet certain minimum qualification requirements before a licence can be granted, namely minimum academic qualification or appropriate experience.
Under the minimum academic qualification requirement a person must have obtained 120 ECTS credits in a range of specified subjects. The appropriate experience requirement means that a person must be able to demonstrate to the Authority that they have been lawfully engaged in the provision of the property service, for which they have been seeking a licence, for three of the five years immediately preceding the making of their application. The Authority also has the discretion to consider both academic qualifications and experience together as qualifying a person where the applicant does not individually meet the specific academic and experience requirements. Full details of the qualifications requirements are set out in the Property Services (Regulation) Act 2011 (Qualifications) Requirements 2012 (S.I. No. 181 of 2012), made by the PSRA. The Regulations provide that a licence applicant should have 120 ECTS in specific subjects to be academically qualified, or provide appropriate evidence of experience in the provision of the property service for which the licence is sought.
I have no plans at this time to amend the Property Services (Regulation) Act 2011.
