RICS Publications & Legislation Flashcards
RICS Global Professional Standard on Conflicts of Interest 2017
Provides rules for RICS members and regulated firms to identify and mange potential conflicts of interest
RICS Professional Standard ‘Surveying Safely’ 2019
Basic good practice principles for the management of health and safety
RICS Professional Statement Property Measurement 2018
Updates the Code of Measuring Practice to incorporate IPMS. Mandatory for offices and resi.
RICS Code of Measuring Practice 2015
Provides a consistent approach to measuring (excluding offices and resi)
RICS Valuation - Global Standards 2021
Global valuation standards created to achieve high standards of integrity, clarity and objectivity in valuation best practice
RICS Professional Standard on Countering Bribery and Corruption, Money Laundering and Terrorist Financing 2019
Mandatory globally applicable requirements for RICS members in relations to bribery, corruption, money laundering and terrorist financing
RICS Professional Standard on Complaints Handling 2016
Sets out mandatory requirements for RICS members in relation to the complaints handling procedure to undertake.
Bribery Act 2010
Sets out procedures to put in place to prevent bribery.
Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017
Covers estate agency work and relevant financial business work inside and outside of the UK
Health and Safety at Work Act 1974
Puts a duty on all employers to ensure, so far as is reasonably practicable, the health, safety and welfare at work
Equality Act 2010
Protects people from discrimination in the workplace and in wider society
Data Protection Act 2018
Defines UK law on the processing of data on identifiable living people. 8 Principles
General Data Protection Regulations 2018
Relates to the storage of personal data
Freedom of Information Act 2000
Create the right to access to information held by public authorities
Minimum Energy Efficiency Standards 2015
Makes it unlawful for landlords to grant a new lease with an EPC below E after April 2018. Makes it unlawful for landlords to continue letting premises with EPC below E after April 2024.
Landlord and Tenant Act 1954
This act relates to the rights and obligations of landlords and tenant. The significance of the act in leases is that it provides tenants the right to renew their lease upon expiry.
The Consumer Rights Act 2015
Specifies the consumers cancellation rights for goods, services and digital content (14 days)
Limitations Act 1980
Sets out the time limits on claims made (6 years from negligent act. Or 3 years from knowledge of the act subject to a 15 year long stop period from the negligent act).
Building Safety Act 2022
Intended to enhance regulations for building safety and ensure residents have stronger voice in ensuring safety of buildings
Estate Agency Act 1979
Aims to promote honesty, accuracy, clarity and openness in the agency process. It aims to discourage discrimination.
Policed by National Trading Standards Estate Agency Team (NTSEAT)
Misrepresentation Act 1967
Aims to protect consumers from false or fraudulent claims that induce you into buying something.
This act deals with misrepresentation pre-contracts.
Consumer Protection Regulations 2008
Aims to protect consumers from unfair business practices. It tries to prevent tricky tactics and false information.
This regulation deals with misleading commercial activities
The Proceeds of Crime Act 2002
Aimed at tackling money laundering and preventing criminals from profiting from their illegal activities.
It allows authorities to confiscate assets obtained through crime.
RICS Professional Standard - Comparable Evidence in Real Estate Valuation 2019
Aims to provide guidance for the use of comparable evidence in valuations.
Page 20 - Dealing with a shortage of evidence highlights the steps to take when faced with a shortage of evidence. Valuers are expected to look further and increase the range. As such should refer to the hierarchy of evidence when there is a lack of data. Look at indirect evidence or interest rates.
