Legislation, Regulations and RICS Guidance Flashcards

1
Q

Limitation Act 1980

A

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

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2
Q

Estate Agents Act 1979

A

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

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3
Q

Bribery Act 2010

A

to reduce bribery acts in businesses
Serious fraud office, up to 10 years in prison and unlimited fine

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4
Q

Proceeds of Crime Act 2002

A

sets out criminal offences to control money laundering and terrorist financing

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5
Q

ecenomic crime act 2022

A

helps prosecute those unwilling to share identity

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6
Q

health and safety at work act 1974

A

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

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7
Q

Building Safely Act 2022

A

Bans combustable cladding on 18m plus and use of EWS1 form (valid for five years)

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8
Q

Consumer Rights Act 2015

A

14 day cooling off period

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9
Q

Land Registration Act 2002

A
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10
Q

Regulation of property agents (final gov’t report 2019)

A

independent regulator
licenced and abide by new code of practice
no date announced

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