Legislation, Regulations and RICS Guidance

Question 1

Limitation Act 1980

Answer 1

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

Question 2

Estate Agents Act 1979

Answer 2

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

Question 3

Bribery Act 2010

Answer 3

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

Question 4

Proceeds of Crime Act 2002

Answer 4

sets out criminal offences to control money laundering and terrorist financing

Question 5

ecenomic crime act 2022

Answer 5

helps prosecute those unwilling to share identity

Question 6

health and safety at work act 1974

Answer 6

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

Question 7

Building Safely Act 2022

Answer 7

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

Question 8

Consumer Rights Act 2015

Answer 8

14 day cooling off period

Question 9

Land Registration Act 2002

Question 10

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

Answer 10

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