UK Statutory Instrument SI 2019 United Kingdom

Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2019

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Prosecution 1 of 7 obligations carry a fine up to £5,000. 1 carries different penalties and 5 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Employer1 Any Person1 Client1

Plus 4 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Employer — also bound by 701 other Acts
TULRCA 1992 72 duties
Any Person — also bound by 2684 other Acts
Client — also bound by 63 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.001 Notice of intent (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Local authority must serve notice of intent before fining property agentsLocal authority
s.003 Requirement to belong to a client money protection scheme Regulated
  • Join approved client money protection scheme if holding client moneyClient
s.003 Final notice (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Local authority must decide and serve final notice imposing financial penaltyLocal authority
s.004 Transparency requirements Prosecution
  • You must display your client money protection certificate and notify clients of scheme changesEmployer

Fine up to £5,000

s.005 Enforcement Regulated
Other duties (1) — Crown / regulator
  • Local authorities must enforce client money protection and transparency rules for property agentsLocal authority
s.006 Penalty for breach of the requirement to belong to a client money protection scheme Prosecution
  • Fail to belong to an approved client money protection schemeAny Person

Fine up to £30,000

s.008 Enforcement outside an authority's area Regulated
Other duties (1) — Crown / regulator
  • Council must notify other council before fining cross-border breachLocal authority
10 other provisions — procedural and definitional
s.001 Citation, commencement and application
s.002 Interpretation
s.002 Right to make representations (opens in a new tab)
s.004 Withdrawal or amendment of notice (opens in a new tab)
s.005 Appeals (opens in a new tab)
s.006 Recovery of financial penalty (opens in a new tab)
s.007 Penalty for breach of the transparency requirements
s.007 Proceeds of financial penalties (opens in a new tab)
s.009 Further provision about financial penalties
s.010 Procedure for and appeals against financial penalties

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.