Ciarán Lynch (Cork South Central, Labour)
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Question 349: To ask the Minister for Justice, Equality and Law Reform the position regarding the national property services regulatory authority; the cost to date in 2010 and the ongoing costs of the NPSRA; the number of personnel employed; the expenditure on salaries and the location of their offices; the expenditure and the actual function of the NPSRA; and if he will make a statement on the matter. [6636/10]

Dermot Ahern (Louth, Fianna Fail)
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I can inform the Deputy that the Auctioneering/Estate Agency Review Group recommended the establishment of the Property Services Regulatory Authority (PSRA) and that the Government decided that the Authority should be established on a statutory basis. The Property Services (Regulation) Bill 2009, which will give effect to this, is currently before the Houses of the Oireachtas awaiting Seanad Committee Stage. In the meantime, the PRSA continues to discharge appropriate functions on a non-statutory basis.

The main functions of the new Authority 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 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 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 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;

Acting as "State Competent Authority" for the purpose of Money Laundering legislation.

The PSRA is currently located in Abbey Buildings, Abbey Road, Navan, Co. Meath. In addition to its Chief Executive designate there are six full-time and two part-time staff. Expenditure by the Authority to date in 2010 is €38,715 (Pay: €36,089, Non-Pay: €2,626).