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APC Revision > APC Legislation > Flashcards

APC Legislation Flashcards

1
Q

Bribery Act 2010 (Statute)
Who is it policed by and what are the key principles?

A

Policed by - Serious Fraud office
Penalties - 10yrs in prison / unlimited fine

Principles:
1. Proportionality
2. Top level commitment
3. Risk Assessment
4. Due Diligence
5. Communication
6. Monitoring & Review

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2
Q

Limitation Act 1980 (Statute)
What are the key points of note?

A

Contract: 6 years from the negligent act / breach with a 15 year longstop date.

Tort: 6 years from the date when loss occurred.

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3
Q

Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (Statute)

Who police’s the legislation and what are the provisions?

A

Policed by : National Crime Agency

Sets our obligations for firms working in sectors with higher money laundering risks.

Penalties:
- 14 years in prison for assisting in AML
- 5 years in prison for tipping someone off they they are being investigated.

Provisions:
1. Written Risk Assessment
2. Systems / Policies in place
3. Internal Controls
4. Staff Training
5. Due Diligence
6. Record Keeping
7. AML Checks

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4
Q

Proceeds of Crime Act 2002 - What are the points of note? (Statute)

A

Authorities can recover proceeds of crime

Three offences are:
1. Concealing criminal property
2. Arrangement to acquire
3. Acquisition, use and possession

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5
Q

Global Professional Statement on Conflicts of Interest 2017 (Pro Standard)

Who police’s and what are the provisions?

A

Policed by: RICS (Heads of Regulation)

Provisions:
Cannot proceed if a conflict arises. Informed consent can only be obtained if in the best interest of both parties.

Three types of conflicts are:
1. Party Conflict
2. Personal Conflict
3. Private information Conflict

Conflict Avoidance - written advice - Conflict Management

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6
Q

Client Money Handling 2019 (Pro Standard)
Who is this policed by and what are the 6 areas of good practice?

A

Policed by: RICS

  1. Holding
  2. Providing information
  3. Receipts
  4. Payment from accounts
  5. Records
  6. Compliance

(separate account, state “client entity”, not overdrawn, pay back any time, any interest agreed goes to the client.)

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7
Q

Countering Bribery, Corruption, Money Laundering, Terrorist Financing 2019 (Pro Standard)

Who Polices & What are the provisions?

A

Policed by: RICS

  1. Mandatory Requirements:
    a. Not to facilitate bribes
    b. Retain records / report suspicion
    c. Have procedures in place
  2. Guidance:
    a. Gift register
    b. Keep up to date with laws
    c. Code of behavior
  3. Supplementary Guidance:
    a. Risk based approach - Who / What / Why
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8
Q

Health & Safety at Work Act 1974 (statute)

Who police’s & what is the main overview?

A

Policed by : Health & Safety Executive (HSE)

Duty place on the employer to provide:
- Welfare to employees
- Report injuries
- Undertake Risk assessments
- Provide training to ensure H&S provisions are adhered to

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9
Q

Surveying Safely 2018 (Guidance Note)

Who police’s and what are the provisions?

A

Policed by: RICS

Provisions:
1. Personal responsibilities for firms and members
2. Assessing Hazard and Risk
3. RICS members places of work
4. Occupational Hygiene & Health
5. Visiting premises / site

Talks about safe working equipment, competent staff, safe working systems, lone working and the safe person concept..

DD - Local - Exterior - Interior

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10
Q

Statutory Obligations of a property owner (statute)

What are the obligations?

A
  • Asbestos Management
  • Contamination
  • EPC
  • Discrimination
  • H&S
  • Legionnaires Disease
  • PAT Testing
  • Waste Management
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11
Q

Control of Asbestos Regulations, 2012 (statute)

What is the overview?

A

If you are responsible for the maintenance of the building - you have a duty to manage the asbestos.

Brown - White - Blue

Demolition Survey & Management Survey

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12
Q

Estate Agents Act 1979 (Statute)

What are they key provisions?

A

Ensure agents act in the best interest of clients and buyers / sellers are treated fairly.

Section 18 - Confirm Terms of Business in writing
Section 21 - Declare any personal interests

  1. Terms of agency - (clarity)
  2. Honest & Accuracy
  3. Absence of discrimination
  4. Tell clients all offers
  5. Agreement and liability of costs
  6. Keep clients money separate
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13
Q

UK Commercial Real Estate Agency, 2016

What are the key provisions and subheadings?

A

Provisions: (total of 12 key factors)
1. Act Honest & Fair
2. Don’t Discriminate
3. Appropriate PII
4. Marketing Details are Honest
5. Avoid C.O.I
6. Work is carried out with skill and due diligence

Sub Headings:
1. Ethics
2. Securing Instructions
3. Acting for Seller: Marketing Property
4. Acting for Seller: Agree sale / lease
5. Acting for Buyer
6. Ending Instruction

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14
Q

Misrepresentation Act 1967

What is an overview?

A
  • Civil offence for breach of act
  • Can be sued for damages and contract rescinded
  • Governs False statements during pre-contractual enquiries
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15
Q

RICS Global Standards, 2022
What are the key provisions and headings?

A

Key changes:
- Increased emphasis on the need to agree clear and unambiguous terms of engagement.
- Requiring more detailed commentary on sustainability and environmental, social and governance (ESG) matters.

Headings:
1. Introduction
2. Glossary
3. Professional Standards (PS1 & PS2)
4. Valuation Technical & Performance Standards
5. Valuation Applications
6. International Valuation Standards

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16
Q

RICS Property Measurement, 2018 (incorporating IPMS) (Prof Statement)

What are the key overviews & Principles?

A
  • Led by International Property Measurement Standards Council (IPMSC)
  • Introduced IPMS as a mandatory practice
  • Aims to bring greater global transparency and consistency for measurement
  • Members are encouraged to report on a dual basis to clients until IPMS has embedded itself
  • IPMS all buildings was published in January 2023

Principles:
- Provide a date for when measurements were taken
- State the methodology of measurement
- Provide reference / scale for plans
- State conversion factor / metric and any rounding
- Measurement calculations must be clearly documented

17
Q

Code of Measuring Practice 2015

What is an overview?

A

Defines the definitions of GEA / GIA / NIA

18
Q

General Data Protection Regulations 2016 (GDPR)

What is the overview and what are the individual rights?

A

Protect people rights for how their personal information is processed

  1. Be informed
  2. Of Access
  3. To Erase
  4. Of Rectification
  5. To Restrict Processing
  6. Use of Own Purposes
  7. To Object
  8. Automated Decision Making
19
Q

Data Protection Act 2018

What is an overview, principles and penalties?

A

UK’s implementation of GDPR 2016. Aims to create a single data protection regime affecting businesses and empowering individuals to take control of how their data is being used.

Data security breaches must be reported to the Information Commissioners office within 72 hours of the breach where there is a loss of personal data and risk of harm to individuals

Principles:
- Lawful & Fair
- Legitimate purposes
- Adequate, Relevant & Limited
- Accurate
- Kept for no longer than necessary
- Processed Securely

Penalties:
- The greater of Up to 4% of global company turnover or £17.5 million pounds

20
Q

Equality Act 2010 (Statue)

What are the take aways and what did in replace?

A

Protects against discriminations.

Replaced: Disability Discrimination Act (DDA)

9 protected characteristics

Disabled access, wide doors, audio queues,, adjustable chairs, low buttons on lifts.

21
Q

Use of Social Media, Guidance for Members 2021

What is the overview?

A

The guidance highlights when RICS is likely to investigate concerns about social media posts.

Posts that are:

  • Dishonest
  • Discriminatory
  • Abusive or threatening
  • Bullying or harassments
  • Ignore previous advice or warnings
22
Q

Consumer Rights Act 2015

What is the overview?

A

If your product is services, you can ask to repeat or fix a service if its not carried out with reasonable care or skill.

23
Q

Town & Country Planning (Use Classes) (Scotland) Order 1997

What are the classes

A

Class 1A - Shops and professional services
Suis Generis - Neither here nor there (sits in between) (Taxi business or car showroom)
Class 3 - Restaurants and Cafes
Suis Generis - (Public Houses, Hot Food Take Away)
Class 4 - Business
Class 5 - General Industrial
Class 6 - Storage & Distribuation
Class 7 - Hotels and Hostels
Class 8 - Residential Institutions(care home or hospitals)
Class 9 - House or Flat
Class 10 - Non residential dwelling (church, nursery, library)
Class 11 - Assembly & Leisure

24
Q

RICS DE&I Guide 2024

What is it?

A
  • Guidance Note introduced in 2024 to supplement rule 4 of the Rules of Conduct
  • Supports members and firms by illustrating good practice in 6 sections:
  1. Inclusive spaces
  2. Inclusive recruitment
  3. Inclusive policies
  4. Inclusive cultures
  5. Everyday life at work
  6. Career progression
25
Q

What legislation governs Dispute Resolution (Arbitration, Expert Witness, Mediation)?

A

Arbitration (Scotland) Act, 2010
Surveyors acting as Advocates (Scotland), 2008
Surveyors acting as Expert witnesses, 2014
Surveyors acting as Arbitrators in Commercial Property Rent Reviews in Scotland, 2019 (Guidance note)

26
Q

What document governs Services Charges?

A

Service Charges in Commercial Property, 2018

27
Q

What document covers comparable evidence?

A

Comparable Evidence in Real Estate Valuation, 2019

28
Q

Freedom of Information Act 2000

What does this cover?

A

Creates a public “right of access” to information held by local authorities

29
Q

What regulations govern marketing boards and what do they state?

A
  • Town and Country Planning Scotland Act 1997
  • Town and Country Planning (Control of Advertisements) (Scotland) Regulations 1984
  • Planning is required when above 4.5 meters on the building and protruding 1 meter from the building (above 4x3 boards)
  • 1 board per building
  • Must not project more than 1 meter from building and not 4.6m from ground
  • Need planning for listed buildings remote boards,, conservation areas, illuminated boards
  • Policed by local planning authority
  • 1 Board per building
30
Q

What Legislation Covers “No contract” in HOTS

A

Requirements of Writing (Scotland) Act 1995

31
Q

Surveyors Acting as an Expert Witness, 4th Edition 2023

What are the key overviews?

A

Main Legislation in Scotland is Surveyors Acting as an Expert Witness in Scotland, 1st Edition 2015

  • Explains the need for clear instructions and ToE
  • Provides guidance on what to do in situations of Conflicts of Interest
  • Outlines the written report format
  • Clarifies the differences between roles of an expert witness and advocate
  • Helps remove the pressure on experts to support their client’s cases irrespective of their honest professional opinion
32
Q

Can you name 3 RICS Professional Statements?

A

RICS: Conflicts of Interest (2017)
RICS: UK Commercial Real Estate Agency (2017)
RICS: Countering Bribery and Corruption, Money Laundering and Terrorist Financing (2019)

APC Revision (7 decks)

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