Key Acts / Regulations Flashcards
Misrepresentation Act (Date?)
1967
Mistatements made during pre-contractual enquiriesto induce party into bidding
Civil offence - actionable by tort - so not policed
Sued for financial damages and/or contract rescinded
Estate Agents Act (Date?)
7 Principles?
1979
During sale/purchase of FH & LH property
Acting dishonesty - no clarity of ToE. Not telling client of offers.
Warning order / and/or fine
National Trading Standards Estate Agency Team
Consumer Rights Act (Date?)
Cooling off period of 14 days
CMA - Competition and Markets Authority
Consumer Protection Regulations (Date?)
2008
During sales and lettings process - not treated customers fairly / misleading information
Criminal offence governed by Competition and markets authority
Unlimited fine and prison up to 2 years
Bribery Act (Date?)
4 Principles
4 Offences
2010
Offence for anyone in UK to pay/receive a bribe, directly or indirectly.
Proportionality, Risk Assessment, DD, Monitoring/Review
Giving bribe, receiving bribe, bribing foreign public official and failing to prevent bribe
Criminal offence - unlimited fine and up to 10 years imprisonment
Serious fraud office (SFO)
Control of Asbestos Regulations (Date?)
2012
Applies to duty holders to identify and manage asbestos - register and surveys
Criminal offence. Enforced by Local authorities
Fine of up to £20,000 and/or 12 months imprisonment
Serious breach - unlimited fine and 2 years prison
Data Protection Act (Date?)
Principles of act
GDPR Rights
2018 - The UK’s implementation of GDPR - data must be used fairly, for specified purposes, accurate, not kept for longer than necessary, handled securely
GDPR Rights
ICO - Information Commissioners Office
Higher of 4% global turnover or £17.5m
Equality Act (Date?)
Protected Characteristics?
4 Discriminations
2010 - 9 Protected characteristics
Direct/indirect discrimination, victimisation and harassment
Civil offence with max £5000 fine
Policed by Equality & Human Rights Commission
Energy Act (Date?)
2011 - Refers to MEES to deliver a cleaner, more affordable energy systems
Civil Penalties can be imposed on landlords who are in breach of MEES.
Resi- will not exceed £5,000
Commercial property
>£200,000.
Council enforces MEES
Health & Safety at Work Act (Date?)
1974
Provision for health, safety and welfare of persons at work
Imprisonment up to 2 years and/or fine up to £20,000
Policed by the Health & Safety Executive (HSE)
Proceeds of Crime Act (Date?)
2002
Prevent Money Laundering through freezing and forfeiture of assets
Offences include concealing, arranging and acquiring
Criminal offence - up to 14 years imprisonment and an unlimited fine
Crown Prosecution Service
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations (Date?)
Aims to restrict processing of funds to supply terrorists with resources
Criminal offence - up to 14 years imprisonment and an unlimited fine
Policed by HMRC
Sanctions & AML Act (Date?)
2018
UK Sanction framework
Detection, investigation and prevention of ML and terrorist financing
Secretary of State
Freedom of Information Act (Date?)
2000
Public bodies are required to provide data they hold of individuals within 20 days
Policed by ICO
No penalty - but could be found in contempt of court
Land Registration Act (Date?)
2002
Transfer interests in registered land by electronic means. Enables formal documents to be executed electronically
Ciminal - Imprisonment for a term not exceeding 2 years or to a fine
Fire Safety (England) Regulations (Date?)
2022
Responsible persons of multi-occupied residential buildings must manage / reduce the risk of fire in structure and external walls
Criminal - Unlimited fines and imprisonment
Policed by Fire and Rescue Service
Building Safety Act (Date?)
2022
Reforms to give residents more rights, powers, and protections – improving safety.
Criminal - 2 years imprisonment and unlimited fines
Building Safety Regulator
Construction (Design & Management) Regulations (Date?)
2015
Outlines the health and safety responsibilities of various duty holders; client, principle designer and principle contractor
Governed by Health & Safety Executive (HSE)
Criminal - monetary and imprisonment
Structure of Surveying Safely and Date?
2018
- Member responsibilities
- Relevance to RICS group
- Assessing hazards/risks
- Member place of work
- Hygiene and health
- Visiting premises/sites
- Fire Safety
- Resi property surveying
- Precurement/mgmt of contractors
Scullion v Bank of Scotland 2011
Scullion bought flat in Cobham for BTL purposes and sought finance from BoS who engaged Colleys surveyors to provide valuation
MR was over estimated and Scullion had to sell property
Scullion sued the surveyor, but Court of Appeal overturned decision that it was a commercial transaction and Scullion was a commercially astute borrower and should have instructed an independent valuer.
Therefore, the lender’s valuer did not owe a duty of care to Scullion.
Limitation Act (Date?)
1980
Contract - 6 years from negligent act / breach - 15 year long stop date from negligent act
Tort - 6 years from date of claimant suffering loss
