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  Advisory Committee on the Regulation of Property Management Industry holds its first meeting

The Advisory Committee on the Regulation of Property Management Industry held its first meeting today (December 22) to map out the work plan of the Committee.

Speaking after the meeting, the Chairman of the Committee, Mr Chung Pui-lam, said, "Regarding the proposals for the regulation of the property management industry, the Committee will provide recommendations on details of the licensing regime and the regulatory body to enable the Government to work out a bill in a timely manner."

He added, "The regulation will establish a standard of qualification for property management companies (PMCs) and practitioners to ensure their service quality, enhance public awareness on requirements of professionalism for PMCs and practitioners, and promote sound property management. 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 PMCs and property 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.

The Director of Home Affairs, Mrs Pamela Tan, said the Government had conducted a public consultation exercise between late 2010 and March this year on introducing regulation to the property management industry, and the major recommendations had been announced in July. She said she believed the Committee would put forward practicable recommendations under the able leadership of the Chairman.

Established by the Government, the Committee is chaired by Mr Chung, an experienced lawyer in the field of property and building management. The remaining 15 members come from various sectors including property management, surveying, facility management, accountancy and engineering, and also include Legislative Councillors.

Representatives from relevant bodies, the Government and academia will also be invited as co-opted members or invited to attend meetings on a needs basis to reflect views from different perspectives.

Four subcommittees have been set up under the Committee, namely the Subcommittee on PMCs, the Subcommittee on Property Management Practitioners, the Subcommittee on Administration and Finance and the Subcommittee on Publicity and Promotion.

Ends/Thursday, December 22, 2011
Issued at HKT 14:34