Robert Dowds (Dublin Mid West, Labour)
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Question 496: To ask the Minister for Justice and Equality when a property regulator will be appointed; and the powers he or she will have. [29063/12]

Alan Shatter (Dublin South, Fine Gael)
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I can inform the Deputy that the Property Services Regulatory Authority was formally established on 3 April 2012 pursuant to the Property Services (Regulation) Act 2011. The Authority consists of a Chairperson and ten ordinary members. The primary purpose of the Authority is to set and enforce standards in the provision of property services by auctioneers, letting agents and property management agents and to provide redress mechanisms for consumers of those services. The Authority will also have statutory responsibility for the publication of residential property sales prices and the establishment and maintenance of a Commercial Leases Database.

One of the main statutory functions of the Property Services Regulatory Authority is the licensing of property service providers, i.e. auctioneers, letting agents and property management agents. It will take over the licensing of auctioneers and letting agents from the District Court and the Revenue Commissioners and also licence for the first time, property management agents, with effect from 6 July, 2012.