Property advisory body convenes

December 22, 2011

The Advisory Committee on the Regulation of the Property Management Industry held its first meeting today to map out its work plan.
 
Speaking after the meeting, committee chairman Chung Pui-lam said members will advise on the licensing regime and the regulatory body to enable the Government to form a bill in a timely manner.
 
“The regulation will establish a standard of qualification for property management companies and practitioners to ensure their service quality, enhance public awareness on requirements of professionalism for property-management companies and practitioners, and promote sound property management,” he said.
 
“The committee is aware of the Government’s target of introducing a draft bill to the Legislative Council in the first half of 2013.”
 
The committee will look into various issues comprehensively, including the definitions of property-management companies and managers, their licensing criteria, the number of tiers for practitioners, the institutional arrangement for the regulatory body, the draft code of conduct and code of practice, the proposed penalty level for any breaches, and the "grandfathering" arrangement.
 
Director of Home Affairs Pamela Tan said the Government conducted a public consultation exercise between late 2010 and March this year on introducing regulations to the property-management industry, and the major recommendations were announced in July.
 
She said the committee will put forward practicable recommendations.