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The Property Management Services Bill was gazetted today (April 25).
A Home Affairs Bureau spokesperson said, "The Bill seeks to establish the Property Management Services Authority (the Authority) to implement the mandatory licensing regime for property management companies (PMCs) and property management practitioners (PMPs), with an aim to regulate the property management industry."
"PMCs and PMPs play an important role in helping property owners to maintain proper management of their buildings. Empowering the Authority to enforce the relevant legislation and issue a code of conduct and take disciplinary actions against non-compliant PMCs and PMPs will raise the professional standard of the industry and increase public awareness of the importance of engaging qualified PMCs."
The Bill provides for a single-tier licensing regime for PMCs. Except for companies providing only stand-alone services, all companies providing property management services relating to a property will be required to obtain licences.
A PMC has to fulfil all licensing criteria, including the minimum number of directors and employees holding PMP licences, the suitability of the company in holding a PMC licence (for example, whether the company is in liquidation or subject to a winding-up order, whether there is past conviction record on relevant offences, the suitability of the directors), and so forth.
As for PMPs, the Bill provides for a two-tier licensing regime. Only those PMPs who take up a supervisory or managerial role in the provision of property management services will be subject to licensing. Frontline staff will not be required to obtain PMP licences.
The PMP licensing criteria will be set in terms of academic qualifications, professional qualifications, years of working experience and the suitability of the person in holding PMP licence (for example, whether the individual is a mentally disordered person, whether there is past conviction record on relevant offences, etc).
The Authority will assume the dual functions of licensing body and industry promoter. The chairperson and members of the Authority are to be appointed by the Chief Executive. The Authority will maintain registers of PMCs and PMPs which are available for public inspection.
The Authority will be a self-financing statutory body supported by income generated from both licence fees and a very small amount of fixed levy (around $200 to $350) to be imposed on each conveyance on sale chargeable with stamp duty under head 1(1) in the First Schedule to the Stamp Duty Ordinance (Cap. 117).
After the passage of the Bill, we will propose subsidiary legislation which will cover the detailed licensing criteria for PMCs and PMPs, the information and documents required in an application for a licence, the level of licence fees and levy, and the exemption of any class of persons or instruments from the payment of levy.
There will be a three-year transitional period for the implementation of the legislation after the enactment of the principal ordinance and the subsidiary legislation. In order to facilitate those experienced PMPs with a lower level of formal qualifications to adapt to the new licensing system, experienced PMPs meeting certain basic requirements will be granted provisional licences during the transitional period. After they have obtained provisional licences, they will be allowed three years to complete continuing professional development courses so that they can be granted formal licences by the Authority upon expiry of the provisional licences.
The Bill will be introduced into the Legislative Council for first and second readings on May 7.
Ends/Friday, April 25, 2014
Issued at HKT 11:10
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