Property Services (Regulation) Act 2011

60.

Prohibition on provision of financial services, etc.

60.— (1) A licensee shall not provide a financial service to a purchaser of land where the licensee provides a property service to the vendor of the land unless—

(a) the licensee has, before the sale concerned, by notice in the specified form informed the vendor of the licensee’s intention to provide a financial service to the purchaser and the vendor has, before that sale, stated in writing that he or she has no objection to the licensee so providing a financial service, and

(b) the licensee has, before that sale, by notice in the specified form informed the purchaser that the licensee is providing a property service to the vendor and the purchaser has, before that sale, stated in writing that he or she has no objection to the licensee so providing a property service at the same time that the licensee may provide a financial service to the purchaser.

(2) Nothing in this Act shall be construed to—

(a) affect the operation of any provision of the Consumer Credit Act 1995, any other statutory provision or any rule of law, in its application to a person who is a licensee, or

(b) relieve a person who is a licensee of any obligations the person may have under any such provision or any rule of law.