Terence Flanagan (Dublin North East, Fine Gael)
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Question 485: To ask the Minister for Justice, Equality and Law Reform when the Property Services Regulation Bill will be published; and if he will make a statement on the matter. [15883/09]

Dermot Ahern (Louth, Fianna Fail)
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It is expected that the Bill will be published in the very near future in this Session.

Terence Flanagan (Dublin North East, Fine Gael)
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Question 486: To ask the Minister for Justice, Equality and Law Reform if he will provide details of the work undertaken to date by the property services regulatory authority; and if he will make a statement on the matter. [15884/09]

Dermot Ahern (Louth, Fianna Fail)
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As the Deputy will be aware the Government is committed to the introduction of the Property Services (Regulation) Bill in the current Dáil term. This Bill, which will establish the Property Services Regulatory Authority on a statutory basis, sets out the main functions of the new Authority which include: establishing and administering a comprehensive licensing system covering all providers of property services, (i.e. Auctioneers, Estate Agents, Letting Agents and Property Management Agents – collectively known as Property Services Providers). This extended system will replace the current licensing system for Auctioneers and House Agents under the Auctioneers and House Agents Acts 1947 to 1973; setting and enforcing standards for the grant of licences (e.g. educational/training standards; levels of professional indemnity insurance) as well as standards to be observed in the provision of property services by licensees; establishing and administering a system of investigation and adjudication of complaints relating to the provision of property services, including the imposition of sanctions as appropriate; conducting audits and inspections of Property Services Providers as part of a general compliance and enforcement function; developing and enforcing Codes of Practice; promoting increased consumer protection and public awareness (where appropriate in liaison and cooperation with other statutory bodies and relevant professional and consumer bodies) of property services in general and the cost to consumers, risks and benefits associated with the provision of those services; producing guidance material for the industry and the public; establishing, maintaining and administering a Compensation Fund to compensate parties who lose money as a direct consequence of the dishonesty of a licensee; enforcing licensees obligations under the legislation through general investigations, inspections and court prosecutions; liaison and cooperation with overseas Authorities.

Pending enactment of the legislation, an Implementation Group has been established to assist and advise on practical matters relating to the establishment of the new Authority and a Chief Executive designate has been appointed and is working closely with the Implementation Group in making arrangements for the establishment of the Authority and its structures including the basic organisational structures, systems, procedures, protocols, rules and regulations, which are fundamental to the long term functioning of the Authority.

The new Authority will be unique internationally in the scope of its remit, responsibilities and powers. It is important therefore that its structures, systems, procedures and rules and regulations be based on solid foundations. To this end the Implementation Group has: successfully completed the necessary arrangements for the acquisition and fitting out of accommodation for the Authority in Navan, Co. Meath; drawn up a Code of Practice for Auctioneers and Estate Agents, which identifies the key principles and values that should guide the day to day practice of service providers. The Code incorporates a complaints system which will enable complaints concerning non-compliance with the Code to be investigated; established and published a National Public Register of all licensed Auctioneers and House Agents. This register will be added to on an ongoing basis and will, once the new legislation is in place, include Management Agents; developed and put in place financial and accounting systems for the Authority; designed and developed a website as part of the education and awareness function; designed and developed computerised licensing and complaints databases suitable for the Authority's long term requirements; developed and implemented an office, file management and data management system for the Authority; developed the systems, procedures rules and regulations necessary for the establishment of a Compensation Fund, including prescribing the manner of reporting of losses sustained by clients and the procedures for applications for grants from the Fund; developed the rules and regulations which will govern the level of professional indemnity insurance which a Property Services Provider must have in place including the Minimum Terms and Conditions of such insurance; established a system of investigation and adjudication of complaints relating to the provision of property services; prepared public information material on the provision of property services, including the purchase and sale of property; drafted a Code of Practice for Management Agents which is currently under discussion with relevant interested parties; drafted rules and regulations governing the complaints procedures.

In addition to the foregoing the implementation team is currently working on: drafting a Code of Practice for Letting Agents; reviewing all aspects of the work undertaken by Property Services Providers in Ireland and equivalent services in appropriate comparable jurisdictions for the purpose of prescribing the minimum education/qualification requirements necessary for the grant of licences; establishing protocols for the vetting by the Garda Síochána of all applicants for licences; drafting rules and regulations for the carrying out of investigations, inspections and audits of Property Services Providers' practices; drafting rules and regulations governing the operation of Property Services providers' accounting procedures including the manner of keeping all accounting records; drafting rules and regulations governing the operation of client accounts; prescribing the rights, duties and responsibilities of Property Services Providers in relation to monies received, held, controlled or paid in connection with the provision of property services; prescribing the rules governing the auditing of Property Services Providers' accounts.

Many of the rules and regulations which have been or are being drafted will be introduced once the Bill has been enacted. The work undertaken to date by the Implementation Group will ensure that the complex systems, procedures, rules, regulations and protocols, necessary for the effective operation of the Authority, can be put in place quickly following the passing of the legislation.