RICS Docs / Legislation Flashcards
Tell me about the Data Protection Act and UK GDPR?
UK GDPR is supplemented by the Data Protection Act 2018
Tell me about the Health and Safety work act?
good practice and principles for working safely
it states that staff must be competently trained
that welfare facilities are provided for staff
safe working environments maintained
health and saftey policies in place
Tell me about the Estate Agents Act 1979
Section 18 - specify all costs / fees in writing via terms of engagement
Section 21 - disclosure of personal interests, any personal interest should be declared to the client.
What are key requirement of Anti Money Laundering?
- provide staff training on AML
- all AML checks must be undertaken
- comply with due diligence requirements
What is the cash limit under Anti Money Laundering Regulations?
£10,000 euros
What are penalties of Money Laundering?
14 years and unlimited fine for assisting
5 years and unlimited fine for tipping off
How long should a firm contain records for under AML?
5 years
How would you report money laundering?
I would raise it with the Money Laundering Reporting Officer who would report to the National Crime Agency via a Suspicious Activity Report (SAR)
What are the AML checks for a Public Limited Company?
London Stock Exchange Listing
What are the AML checks for a public accountable body?
Government ownership / control
What are the AML checks for Private limited company?
- Certificate of incorporation
- Full Name
- Registered office adders
- name, certified ID and address within 3 months of all directors and shareholders with 25% share more
What are the AML checks of a private individual?
- photographic ID proof of address within 3 month’s
Tell me about the Proceeds of Crime Act 2022?
it provides powers to recover money that are proceeds of crime
- Concealing criminal property
- if a person is in an arrangement and suspects use of criminal property
- in possession or using criminal property
Tell me about the Fire Safety Act 2021
Requires all responsible persons to assess manage and reduce fire risks
What is the main legislation on asbestos?
The Control of Building Asbestos Regulations 2012
What are the principles under UK GDPR?
adequate, relevant to what is necessary
processed lawfully fair and transparent
collected for legitimate purposes
What are some of the individual rights under UK GDPR?
Right to access
Right to erasure
Right to be informed
Right to object
What are the nine protected characteristics under Equality Act 2010
- Gender
- Sex
- Sexual orientation
- Age
- Disability
- Race
- Religion
- Marriage or partnership
- pregnancy
Tell me about MEES
minimum EPC rating of E from 2018
all existing leases from 2013
EPC C by April 2027
EPC B by 2030
Tell me about the misrepresentation act 1967
makes it an offence to make a false or misleading statement
Tell me about the consumer protection from unfair trading regulations 2008?
prohibits giving false or misleading information, exerting undue pressure on consumers, failing to show professional diligence.
What are the penalties of breaching consumer protection regulations?
unlimited fine, prohibition order
What are the penalties of the Equality Act 2010
civil or criminal offence - punishable by a fine of up to £5,000.
What is the safe person concept?
for a person to take reasonable care for their own and others health and safety.
tell me about the freedom of information act?
gives individuals rights of access to information held by public bodies
Tell me about the The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017?
key provisions are:
- provide staff training
- comply with new customer, simplified and enhanced due diligence
- ensure AML checks are undertaken
Tell me about RICS client money handling 2019?
-key procedures are
- separately labeled client account
- client to have access on demand
- accurate records are kept
- money can only be withdrawn if property required
What are the penalties of breaching the estate agents act?
warning order, fine, prohbition order
What are the penalties of breaching the consumer protection regulations?
unlimited fine
2 years in prison
prohibition order
What are the penalties of breaching the misrepresentation act?
sued for financial damages
contracts rescinded
Tell me about the Limitation Act 1980?
Limitation Act 1980 sets out the applicable time limits for claiming negligance depending on the type of claim being made.
contract - 6 years from date of act.
What are the 4 offences under the bribery act?
Receiving a bribe
failing to prevent a bribe
bribing
brining a foreign official
Who is the bribery act policed by?
Serious Fraud Office
What should be included within a firms health and safety policy?
organisation commitment to health and safety
roles and responsibilities
risk assessment
implementation
When was asbestos banned?
white banned since 1999
blue and brown - 1985
What are the statutory obligations of a commercial property owner?
- asbestos management
- health and safety
- fire safety
- equality act
Four offences under the Equality act?
direct discrimination
indirect discrimination
harassment
victimisation
How could a surveyor breach the equality act?
lettings and sales must not be undertaken in a way which could harass or discriminate a person.
how could a property owner breach the equality act?
act states that owners should make reasonable requirements to to help disabled people if they would be placed at a substantial disadvantage should the works not be carried out.
Who polices MEES?
Local authority
What are the penalties of MEES?
breach less than 3 months - up to £5k
breach more than 3 months - up to £10k
What are some of the exemptions of MEES?
improvements would devalue a property by 5%
place of worship
industrial unit with no heating or cooling
Tell me about the RICS Property Measurement, 2nd edition
the general principles are:
- provide a date when measurements are taken
- state the methodology adopted
- reference and scale of plans used
- measurements and calculations clearly documented
