Legislation, Regulations and RICS Guidance Flashcards
Limitation Act 1980
relates to negligence claims (breach in duty of care and damages), contract 6 years from the date of the negligent act, or 3 years from the palm of negligent act with a cap of 15 years. Tort is 6 years from identifying the negligent act
Estate Agents Act 1979
Principles estate agents must follow, defines estate agent, warning orders and prohibition from National Trading Standards
- honesty, transparency
- s.18 clarity of terms and fees
- s.21 disclosure of personal interest
- legal obligation to disclose any offers
- no discrimination
Bribery Act 2010
to reduce bribery acts in businesses
Serious fraud office, up to 10 years in prison and unlimited fine
Proceeds of Crime Act 2002
sets out criminal offences to control money laundering and terrorist financing
ecenomic crime act 2022
helps prosecute those unwilling to share identity
health and safety at work act 1974
employers duty to ensure health, safety and welfare to all employees as far as reasonably possible
penalties of up two years in prison or a fine or both policied by HSE
Building Safely Act 2022
Bans combustable cladding on 18m plus and use of EWS1 form (valid for five years)
Consumer Rights Act 2015
14 day cooling off period
Land Registration Act 2002
Regulation of property agents (final gov’t report 2019)
independent regulator
licenced and abide by new code of practice
no date announced