Joan Burton (Dublin West, Labour)
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Question 208: To ask the Tánaiste and Minister for Justice, Equality and Law Reform his proposals in relation to drafting legislation to allow for a property services regulatory authority; when this legislation will be brought before Dáil Éireann; the functions and powers of the proposed authority; the remedies it will be able to provide for residents who are receiving an unsatisfactory service or being overcharged by their management companies; the powers the proposed authority will have in relation to companies that are meeting their statutory obligations as an Irish company; and if he will make a statement on the matter. [31487/06]

Michael McDowell (Dublin South East, Progressive Democrats)
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The Report of the Auctioneering/Estate Agency Review Group has recommended the establishment of a Regulatory Authority with responsibility for the licensing and regulation of property service providers, including auctioneers, estate agents and property management services. The Government has accepted the Review Group's recommendation and legislation is currently being prepared to give effect to it. The Government Legislation Programme published on 26 September provides for publication of the Property Services Regulatory Authority Bill in 2007.

It is intended that the functions of the Regulatory Authority will, in addition to its licensing function, include an information and public awareness function in relation to the costs, benefits and risks associated with the provision of property services. It will also have an investigative function which will allow it to investigate the provision of property services of its own motion or in response to specific complaints. It is intended that the Regulatory Authority will have a range of sanctions at its disposal, ranging from revocation of a licence, or its suspension for a period, to the issuing of a reprimand or caution.