Property Services (Regulation) Act 2011
Number 40 of 2011
PROPERTY SERVICES (REGULATION) ACT 2011
REVISED
Updated to 30 November 2020
This Revised Act is an administrative consolidation of the Property Services (Regulation) Act 2011. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.
All Acts up to and including the Credit Union Restructuring Board (Dissolution) Act 2020 (22/2020), enacted 6 December 2020, and all statutory instruments up to and including the Property Services (Regulation) Act 2011 (Minimum Standards) Regulations 2020 (S.I. No. 564 of 2020), made 27 November 2020, were considered in the preparation of this Revised Act.
Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to
revisedacts@lawreform.ie.
Number 40 of 2011
PROPERTY SERVICES (REGULATION) ACT 2011
REVISED
Updated to 30 November 2020
Introduction
This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was passed.
Related legislation
This Act is not collectively cited with any other Act.
Annotations
This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions.
An explanation of how to read annotations is available at
www.lawreform.ie/annotations.
Material not updated in this revision
Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.
Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.
A list of legislative changes to any Act, and to statutory instruments from 1972, may be found linked from the page of the Act or statutory instrument at
www.irishstatutebook.ie.
Acts which affect or previously affected this revision
• Housing (Regulation of Approved Housing Bodies) Act 2019 (47/2019)
• Data Protection Act 2018 (7/2018)
• Workplace Relations Act 2015 (16/2015)
• Competition and Consumer Protection Act 2014 (29/2014)
• Protected Disclosures Act 2014 (14/2014)
All Acts up to and including Credit Union Restructuring Board (Dissolution) Act 2020 (22/2020), enacted 6 December 2020, were considered in the preparation of this revision.
Statutory instruments which affect or previously affected this revision
• Property Services (Regulation) Act 2011 (Minimum Standards) Regulations 2020 (S.I. No. 564 of 2020)
• Property Services (Maintenance of Professional Competence of Licensees) (Amendment) Regulations 2020 (S.I. No. 348 of 2020)
• Property Services (Regulation) Act 2011 (Section 95) (Extension of Licences) Regulations 2020 (S.I. No. 162 of 2020)
• Property Services (Regulation) Act 2011 (Professional Indemnity Insurance) (Amendment) Regulations 2020 (S.I. No. 161 of 2020)
• Property Services (Maintenance of Professional Competence of Licensees) Regulations 2017 (S.I. No. 576 of 2017)
• Property Services (Regulation) Act 2011 (Part 10) (Commencement) Order 2017 (S.I. No. 520 of 2017)
• Property Services (Regulation) Act 2011 (Qualifications) (Amendment) Regulations 2015 (S.I. No. 456 of 2015)
• European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014)
• Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012 (S.I. No. 199 of 2012)
• Property Services (Regulation) Act 2011 (Commencement) (No. 2) Order 2012 (S.I. No. 198 of 2012)
• Property Services (Regulation) Act 2011 (Compensation Fund) Regulations 2012 (S.I. No. 183 of 2012)
• Property Services (Regulation) Act 2011 (Professional Indemnity Insurance) Regulations 2012 (S.I. No. 182 of 2012)
• Property Services (Regulation) Act 2011 (Qualifications) Regulations 2012 (S.I. No. 181 of 2012)
• Property Services (Regulation) Act 2011 (Licensing) Regulations 2012 (S.I. No. 180 of 2012)
• Property Services (Regulation) Act 2011 (Establishment Day) Order 2012 (S.I. No. 113 of 2012)
• Property Services (Regulation) Act 2011 (Commencement) Order 2012 (S.I. No. 112 of 2012 )
All statutory instruments up to and including Property Services (Regulation) Act 2011 (Minimum Standards) Regulations 2020 (S.I. No. 564 of 2020), made 27 November 2020, were considered in the preparation of this revision.
Number 40 of 2011
PROPERTY SERVICES (REGULATION) ACT 2011
REVISED
Updated to 30 November 2020
ARRANGEMENT OF SECTIONS
Preliminary and General
Section
1. Short title and commencement.
4. Application of this Act to principal officers and employees.
5. Laying of regulations and orders.
Property Services Regulatory Authority
9. Establishment of Property Services Regulatory Authority.
10. Membership of Authority and terms of membership.
13. Membership of either House of the Oireachtas, European Parliament or local authority.
14. Advisory committees, consultants and advisers.
15. Non-disclosure of information.
24. Accountability of Chief Executive to other Oireachtas Committees.
25. Power to charge and recover fees.
26. Advances by Minister to Authority.
Licences to Provide Property Services
28. Prohibition of unlicensed property service.
31. Issue or refusal of licence.
33. Documents to accompany certain applications.
34. Notification to applicant of refusal to issue licence, etc.
36. Notification to applicant of refusal to renew licence, etc.
37. Display and production of licences.
38. Offence to use licence issued to another person.
39. Issue of replacement licence, etc.
40. Surrender and seizure of licence following suspension or revocation, etc.
41. Notification of material matter to Authority.
42. Provision of information by Garda Síochána.
General Obligations of Licensees
45. Professional indemnity insurance.
Client Accounts and Related Matters
46. Keeping and preservation of client accounts and records.
47. Offences relating to client accounts and accounting records.
48. Control of banking accounts or assets of licensees.
49. Priority of claims to client moneys.
50. Preservation of lien and other rights.
51. Provisions regarding banks.
52. Vesting in Official Assignee of sums to credit of certain client accounts.
53. Provisions relating to client accounts in event of bankruptcy.
54. Power of Authority to deal with documents.
Sale or Letting of Land
55. Vendor to be given statement of advised market value, etc.
56. Estimate of selling price not to be less than advised market value, etc.
57. Evidence of reasonableness of advised market value.
60. Prohibition on provision of financial services, etc.
61. Retention of records where sale of land other than by auction.
62. Regulations under Part 6 .
Complaints, Investigations and Sanctions
63. Complaints against licensees.
66. Powers of entry and inspection, etc., of inspectors for purposes of investigation.
67. Protection for persons reporting improper conduct, etc.
68. Actions to be taken by inspector and Authority upon completion of investigation.
70. Appeal to High Court against decision to impose major sanction.
71. Application to High Court to confirm decision to impose major sanction.
72. Provisions supplementary to sections 70 and 71.
73. Matters to be considered in determining sanctions to be imposed.
Appeals Against Certain Decisions of Authority
74. Property Services Appeal Board.
75. Appeal to High Court on question of law.
76. Taking effect of certain decisions of Authority.
Property Services Compensation Fund
77. Property Services Compensation Fund.
78. Compensation for loss due to dishonesty.
Maintenance of Professional Competence of Licensees
79. Regulations may provide for professional competence schemes.
80. Review of professional competence scheme.
81. Duty of licensees to maintain professional competence.
Property Services Provided by Certain Persons from EU Member States
82. Interpretation of Part 11> and Schedule 7.
83. Application of this Act to relevant persons.
84. Relations with competent authorities.
85. Effect of revocation or suspension of relevant person’s relevant authorisation.
Residential Property Sales Prices and Commercial Leases Database
86. Residential property sales prices.
87. Database of commercial property leases.
88. Tenants to provide Authority with particulars of relevant commercial leases.
Miscellaneous
89. Investigation of persons other than licensees.
90. Certain provisions to be void.
91. Publication of sanctions, etc.
93. Restriction of right of access to personal data in certain circumstances.
95. Regulations that may be made by Authority — general.
96. Regulations that may be made by Minister — general.
97. Power to specify form of documents.
98. Interpretation of transitional provisions.
100. Modification of operation of section 99(1) in specified circumstances.
101. Consequential amendments to other enactments.
Repeals and Revocations
Acts Repealed
Statutory Instrument Revoked
Information to be Contained in Property Services Agreements
Property Services Agreements — general
Property Services Agreements for Sale of Land
Property Services Agreements for Letting of Land
Property Services Agreements for Provision of Property Management Services
Provisions applicable to Oral Hearings conducted pursuant to section 66 or 68
Oral Hearing conducted by inspector pursuant to section 66(15)
Oral Hearing conducted by Authority pursuant to section 68(5)
Redress for Contravention of section 67(5)
Provisions in respect of Property Services Appeal Board
General
Appeals
Provisions Applicable to Administration of Property Services Compensation Fund
Modifications of this Act in Relation to Relevant Persons
Consequential Amendments to Other Enactments
Acts Referred to
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1985, No. 11 |
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1947, No. 10 |
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1967, No. 9 |
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1973, No. 23 |
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1988, No. 27 |
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1989, No. 17 |
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1995, No. 19 |
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Central Bank and Financial Services Authority of Ireland Act 2004 |
2004, No. 21 |
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Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 |
2010, No. 24 |
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Civil Service Regulation Acts 1956 to 2005 |
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1963, No. 33 |
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1990, No. 33 |
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Companies Acts |
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1982, No. 10 |
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1993, No. 8 |
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1995, No. 24 |
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2011, No. 22 |
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Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 |
2010, No. 6 |
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1988, No. 25 |
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2003, No. 6 |
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Debtors (Ireland) Act 1840 |
1840, (3 & 4 Vict.) c. 105 |
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Deeds of Arrangement Act 1887 |
1887, (50 & 51 Vict.) c. 57 |
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1995, No. 22 |
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1997, No. 2 |
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1995, No. 26 |
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1996, No. 33 |
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2002, No. 5 |
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1964, No. 1 |
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1992, No. 18 |
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2009, No. 27 |
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1980, No. 10 |
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2001, No. 37 |
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1993, No. 34 |
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2011, No. 2 |
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1964, No. 31 |
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Petty Sessions (Ireland) Act 1851 |
1851, (14 & 15 Vict.) c. 93 |
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1935, No. 17 |
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1984, No. 21 |
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2003, No. 29 |
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Public Service Management (Recruitment and Appointments) Act 2004 |
2004, No. 33 |
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1963, No. 30 |
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Sale of Land by Auction Act 1867 |
1867, (30 & 31 Vict.) c. 48 |
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1952, No. 7 |
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2005, No. 26 |
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1999, No. 31 |
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1965, No. 27 |
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1997, No. 39 |
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1977, No. 10 |
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Unfair Dismissals Acts 1977 to 2007 |
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2001, No. 13 |
Number 40 of 2011
PROPERTY SERVICES (REGULATION) ACT 2011
REVISED
Updated to 30 November 2020
AN ACT TO PROVIDE FOR THE ESTABLISHMENT OF A BODY, TO BE KNOWN AS AN tÚDARÁS RIALÁLA SEIRBHÍSÍ MAOINE OR, IN THE ENGLISH LANGUAGE, THE PROPERTY SERVICES REGULATORY AUTHORITY, TO CONTROL AND SUPERVISE THE PROVIDERS OF PROPERTY SERVICES, TO CAUSE ANY COMPLAINTS AGAINST THOSE PROVIDERS TO BE INVESTIGATED AND TO ADJUDICATE ON ANY SUCH COMPLAINTS; TO PROVIDE FOR THE ESTABLISHMENT OF A BODY TO BE KNOWN AS AN BORD ACHOMHAIRC UM SHEIRBHÍSÍ MAOINE OR, IN THE ENGLISH LANGUAGE, THE PROPERTY SERVICES APPEAL BOARD, TO HEAR AND DETERMINE APPEALS AGAINST CERTAIN DECISIONS OF THE AUTHORITY; AND TO PROVIDE FOR TAKING ACCOUNT OF DIRECTIVE 2006/123/EC IN SO FAR AS IT RELATES TO PROPERTY SERVICES; TO PROVIDE FOR THE CONSEQUENTIAL REPEAL OR AMENDMENT OF CERTAIN ENACTMENTS AND THE REVOCATION OF A STATUTORY INSTRUMENT; AND FOR RELATED MATTERS.
[20th December, 2011]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: