The Government Legislation Programme published on 30 January provides for publication of the Property Services Regulatory Authority Bill in 2007. This legislation will give effect to key recommendations of the Auctioneering/Estate Agency Review Group, including establishment of the Property Services Regulatory Authority to control and regulate the provision of property services provided by auctioneers, estate agents and property management agents.
Pending enactment of the legislation, I have established an Implementation Group to assist and advise on practical matters relating to the new body and to prepare for the new licensing system. A Chief Executive designate has also been appointed and is engaged in preparatory work for establishment of the Authority.
As regards difficulties arising in relation to the operation of property management companies, the Law Reform Commission's Consultation Paper on Multi-Unit Developments makes it clear that action will be required across a broad range of policy areas, including the planning and development code, company law, consumer protection law and the development of regulatory structures. In recognition of this, and the cross-cutting nature of many of the issues, the Government has approved the establishment of a high-level interdepartmental committee to assist in the development of a coherent and comprehensive legislative response to the difficulties arising in relation to property management companies.
A key task of the committee, which will hold its first meeting next week, will be to identify the key legislative and administrative actions to be taken and to determine a timescale for implementation as soon as possible. In particular, the committee will have regard to recommendations for legislative reforms contained in the Law Reform Commission's Report on Multi-Unit Developments which will be published later this year.
I should also mention that the National Consumer Agency has produced a very valuable booklet entitled ‘Putting Consumers First' which contains information and guidance for those who have bought an apartment or house in a multi-unit complex, or are considering doing so. In addition, the Director of Corporate Enforcement has launched a draft consultation paper on the governance of property management companies which provides essential information for the members and directors of management companies and is seeking submissions from interested parties.
Pending the enactment of future legislation, I believe that improved awareness of their rights, and a better understanding of the corresponding duties and responsibilities of developers and builders, will enable the owners of apartments and houses in multi-unit complexes to assert their rights as company members, become involved in the management of their company and combat abuses.
