Statutory Instruments
Estate Agents
Made
28th June 2008
Laid before Parliament
1st July 2008
Coming into force
1st October 2008
The Secretary of State makes the following Regulations in exercise of the power conferred by paragraph 2 of Schedule 4 to the Estate Agents Act 1979(1).
1. These Regulations may be cited as the Estate Agents (Redress Scheme) (Penalty Charge) Regulations 2008 and shall come into force on 1st October 2008.
2. The amount of the penalty charge specified in a notice given to a person under section 23B(1) of the Estate Agents Act 1979 shall be £1000.
Gareth Thomas
Parliamentary Under Secretary of State for Trade and Consumer Affairs
Department for Business, Enterprise & Regulatory Reform
28th June 2008
(This note is not part of the Regulations)
These Regulations specify that the penalty charge that may be imposed on a person who has engaged (or is engaging) in estate agency work in the United Kingdom in relation to residential property in breach of the requirement under the Estate Agents (Redress Scheme) Order 2008 (S.I. 2008/1712) to belong to an approved redress scheme shall be £1000. “Estate agency work” is defined in section 1 of the Estate Agents Act 1979 and “residential property” is defined in section 23C of that Act. Details of every approved redress scheme are available on the Office of Fair Trading website (www.oft.gov.uk).
An Impact Assessment in respect of these Regulations is available and a copy can be obtained from the Department for Business, Enterprise & Regulatory Reform or from its website at www.berr.gov.uk.