PRSA

The Minister for Justice and Equality, by order under the Property Services (Regulation) Act 2011, established the Authority on a statutory basis on 3 April 2012.

The main function of the Authority is to control and regulate Property Services Providers (i.e. Auctioneers/Estate Agents, Letting Agents and management Agents) this includes the licensing of all such services providers, the establishment of a complaints investigation and redress system for consumers, the setting and enforcement of standards in the provision of property services, the administration of client accounts, the establishment and maintenance of a compensation fund and the creation of three Public Registers.

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MUD ACT

The Multi-Unit Developments Act 2011 (MUD Act) came into effect in Ireland on the 1st of April 2011. This Act has been brought in to regulate the ownership and management of the common areas of multi-unit developments. This Act provides for the setting up of owners’ management companies to manage such areas.

A multi-unit development consists of at least five residential units sharing the same facilities, amenities and services. The majority multi-unit developments in Ireland are apartment blocks. However, the Act also looks after groups of houses that share common facilities and have an owners’ management company.

The Act also provides for mixed commercial and residential developments and also for developments with between 2 and 4 residential units to a certain extent.

MUD ACT 2011
To download a copy of the MUD Act 2011, please click here

MUD ACT EXPLAINED
To get a full understanding of the MUD act, please download a copy of the PDF by clicking here



ODCE

The mission of the Office of the Director of Corporate Enforcement is to improve the compliance environment for corporate activity in the Irish economy by encouraging adherence to the requirements of the Companies Acts, and bringing to account those who disregard the law.

One of the important functions of the Director of Corporate Enforcement is to encourage compliance with the requirements of the Companies Acts.

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The new Companies Act 2014 condenses the previous Companies Act of 1963 with 17 amendments and related company law provisions into a single comprehensive code of company legislation, and is the culmination of more than 10 years work on the part of the Company Law Review Group and the Department of Jobs, Enterprise and Innovation. Whilst many of the provisions are merely a restatement of the current law, there are also a number of changes and some new provisions. The design of the new Act focuses on simplification and modernisation with clear and accessible drafting language.

The Companies Act 2014 (the Act) was signed into law in December 2014 and the bulk of the act has commenced (that is, to enter into force) on 1 June 2015. This article gives an overview of the role of the company secretary under the Act, highlighting the key changes in the law. Whilst many of the provisions relating to company secretaries remain the same under the new legislation, there are some interesting new provisions which have been introduced.

Some of the main areas highlighted include:

  • The company secretary – appointment
  • Disclosure obligations
  • Directors’ duty regarding skills and resources of secretary of a private company
  • Statutory and other duties of the company secretary
  • Administrative duties of the company secretary
  • New corporate governance provisions to be aware of
  • The company secretary of a public limited company

The Director and his staff discharge this role by communicating publicly the benefits of compliance with the law and the consequences of non-compliance. The strategies employed include:

  • Consultations with professional bodies and interests to secure the conformity of their members with the requirements of the law.
  • Discussions with Government and other parties as required to facilitate and support the compliance role of the Director.
  • Public presentations on, for example, the ODCE, its powers and functions.
  • The publication of information, via the printed and electronic media, on the legal duties and powers which exist under Irish company law.

The investigative and enforcement function of the Director is quite extensive. His main legal powers arise in the following areas:

  • The initiation of fact-finding company investigations.
  • The prosecution of persons for suspected breaches of the Companies Acts.
  • The supervision of companies in official and voluntary liquidation and of unliquidated insolvent companies.
  • The restriction and disqualification of directors and other company officers.
  • The supervision of liquidators and receivers.
  • The regulation of undischarged bankrupts acting as company officers.


RICS

RICS (Royal Institution of Chartered Surveyors) is the world’s leading professional body for qualifications and standards in land, property and construction. RICS accredits 118,000 professionals and any individual or firm registered with RICS is subject to their quality assurance.

They regulate and promote the profession; maintain the highest educational and professional standards; protect clients and consumers via a strict code of ethics; and proved impartial advice and guidance.

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WATER CHARGES

Click here for up to date news in relation to water in Ireland.

  • Irish Water applied charges for public water services on January 1st 2015.
  • The Charges are now being capped at a maximum annual amount until the end of 2018.
  • There is a water conservation grant of €100 per year available for primary residences of customers who apply to Irish Water payable through the Department of Social Protection.
  • Bills are being issued quarterly since April 2015. Water services for children are free.
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Household Water Supply & Wastewater Services Water Supply or Wastewater Services
1 Adult €160 per year €80 per year
2+ Adults €260 per year €130 per year
  • An unmetered house with one adult will pay €160 per year for water and wastewater services.
  • An unmetered house with one adult will pay €80 per year for a single service.
  • An unmetered house with two or more adults will pay €260 per year for water and wastewater services.
  • An unmetered house with two or more adults will pay €130 per year for a single service.

If your water is metered the charges are based on the volume of water supplied. Water services are measured in M3 (1M3 = 1 Cubic Metre = 1,000 Litres).

  • Water Suppled ⇒ €1.85 per m³ (1 cubic metre = 1,000 litres)
  • Wastewater Removed ⇒ €1.85 per m³ (1,000 litres)

Where a house is not permanently occupied, “The not permanently occupied charge” applies:

  • €125 per annum for water and wastewater services.
  • €62.50 per annum per service i.e. water supply or wastewater services.

For further help or to view Q’s & As click here.

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