Hot Topics Flashcards
(33 cards)
What is insolvency?
A financial state where an individual or business cannot meet their financial obligations
What does it mean to go into administration?
A company, unable to pay its debts, enters a formal legal process where an administrator takes control to try and rescue it or maximize returns for creditors
What does the RICS advise if a Contractor goes insolvent?
- Ensure all contractual procedures are followed
- Make record of payments made, work progress and materials on site
- Contract to be terminated – Contractor no longer required to fulfil their obligations
- Site should be secured
- Surveyor should prepare detailed valuation of the works
- Engage with alternative contractors
What impact might the Labour government have on the industry?
- Significant investment in public infrastructure and transport networks
- Sustainable focus – retrofitting buildings, eco-friendly materials and increasing biodiversity
- Reinstated the requirement for an increase in housing
What is your economic outlook for 2025 in relation to the Construction Industry?
Slowdown due to rising material and labour costs with high inflation and interest rates
Persistent skill shortage due to Brexit
What is the impact of hybrid working for the Construction Industry?
Long lease terms for commercial offices are decreasing
Adaptable office designs
Focus on sustainability
How did the updates to Building Safety Act 2022 come about?
Result of Grenfell fire in 2017, Dame Judith Hackitt undertook a review which found that the construction industry did not meet safety regulations which was the cause of the significant deaths
What is the purpose of the Building Safety Act 2022
Introduced to address the findings of the Grenfell Tower fire and improve safety standards for buildings, particularly high-rise residential buildings
What are the updates in the Building Safety Act?
- Establishment of the Building Safety Regulator
- Enhanced accountability for building owners
- Stricter fire safety regulations
Who are duty holders under the Building Safety Act?
- Clients
- Designers
- Principle Designers
- Contractors
- Principle Contractors
What is the difference between duty holders and accountable persons under Building Safety Act 2022?
Roles are named as duty holders under the design and construction phases. Once buildings are occupied they are referred to as accountable persons
What is a high risk building?
- 18m in height or 7 storeys
- Contains more than 2nr dwellings
- Hospitals / care homes
What is included in the height of the building?
From the bottom of the ground floor (level with the external ground floor) to the top surface of the top floor. Excluding rooftops/plant area
What is the role of the Building Safety Regulator?
- Implement strict regimes for HRB
- Overseeing safety and performance of all buildings
- Advise on emerging risks
Name the different gateways are there under the Building Safety Act 2022?
Gateway 1 – Planning Permission
Gateway 2 – Pre-Construction
Gateway 3 – Completion/Final Certificate
Talk me through Gateway 1
- Client to submit Fire Statement and planning permission to HSE. Principle Designer prepares safe design
- HSE reviews
- Local Authority grants planning permission
Talk me through Gateway 2
- Client to ensure compliance with Building Regulations, provide full plans, appoint competent people and apply for Building Control Approval
- Building Safety Regulator to review and approve
- Principle Contractor to begin works
Talk me through Gateway 3
- Client to demonstrate building is safe and apply for completion certificate. Principle Contractor to provide Golder Thread with as built and operational information
- Building Safety Regulator to assess and issue completion certificate
- Principle Accountable Person to register HRB
- Ready for occupation
What amendments were made to other existing legislation due to revision of Building Safety Act 2022?
Building Regulations – Approved Document B
What is the Golden Thread?
- Digital record of building information to be maintained throughout a building lifecycle, primarily focused on ensuring safety and compliance with Building Safety Act 2022
Whose responsibility is it to maintain the Golden Thread?
The Client (landlord)
What RICS focuses on advocating the Built Environment within the UK?
RICS UK Manifesto 2023
What does the RICS UK Manifesto 2023 talk about?
Sets out a roadmap of 10 actions to deliver a resilient and sustainable built environment for future generations
Key recommendations include: prioritising building safety standards, commitment to sustainable infrastructure and investment into communities
Please explain your understanding of what happened at COP29?
- COP – Conference of the Parties
- Held in Baku in Nov 2024 and focuses on addressing the climate finance gap
- Sufficient financial resources for vulnerable countries facing climate related disasters
