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FRIDAY, SEPTEMBER 2, 1994
LICENSING PROPOSAL FOR ESTATE AGENTS ENDORSED
THE RECOMMENDATIONS BY THE WORKING GROUP ON REGULATION OF ESTATE AGENTS FOR ESTABLISHING A REGULATORY FRAMEWORK FOR THE INDUSTRY HAVE RECEIVED WIDE SUPPORT IN PRINCIPLE FROM THE COMMUNITY AT LARGE INCLUDING LEGISLATIVE COUNCILLORS AND THE TRADE.
THIS WAS DISCLOSED BY THE SECRETARY TO THE WORKING GROUP, MR WILLIAM SHIU, DURING A LUNCHEON TALK TO THE ROTARY CLUB OF HONG KONG NORTHEAST TODAY (FRIDAY).
IN RESPONSE TO THE VIEW EXPRESSED BY A SMALL NUMBER OF ESTATE AGENTS THAT THE LICENSING REQUIREMENTS SHOULD NOT BE SET TOO HIGH, HE SAID THE WORKING GROUP WAS WELL AWARE OF SUCH CONCERN AND HAD PROPOSED DIFFERENT LICENSING REQUIREMENTS FOR ESTATE AGENTS, CORPORATIONS AND FRONT-LINE ESTATE SALES STAFF.
THIS WAS TO ENSURE THAT THE REQUIREMENTS WOULD SHORTFALL IN THE SUPPLY OF ESTATE AGENTS OR DRIVE BUSINESS.
NOT CAUSE A THEM OUT OF
HR ALSO EXPECTED THAT LICENCE FEES WOULD BE SET AT LEVELS AFFORDABLE BY THE INDUSTRY ON THE BASIS THAT THE INITIAL ANNUAL OPERATING COST OF THE ESTATE AGENTS AUTHORITY WOULD BE FUNDED BY DUES FROM A LARGE INDUSTRY WITH ABOUT 4,700 ESTABLISHMENTS EMPLOYING THAN 15,000 PEOPLE.
IT IS BELIEVED THE LICENCE FEES WOULD NOT UNDULY INCREASE OPERATING COSTS OF ESTATE AGENTS.
MORE
THE
ON THE PROPOSAL THAT ESTATE AGENTS SHOULD SUPPLY ESSENTIAL PROPERTY INFORMATION TO PROSPECTIVE PURCHASERS, MR SHIU POINTED OUT THAT MOST OF THEM COULD BE OBTAINED IN THE LAND REGISTRY AT A SMALL CHARGE.
AS REGARDS THE LIKELY PROBLEM OF ASCERTAINING THE FLOOR AREA OF A PROPERTY, ESPECIALLY THE OLDER ONES, THE CONCERNED GOVERNMENT DEPARTMENT HAS TAKEN STEPS TO MAKE THE INFORMATION AVAILABLE TO THE PUBLIC AND ESTATE AGENTS ON REQUEST.
ON
TWO-MONTH
MR SHIU URGED ALL INTERESTED PARTIES TO SUBMIT THEIR VIEWS SUBJECT TO THE WORKING GROUP DURING THE CONSULTATION EXERCISE WHICH WOULD END ON OCTOBER 10.
THE
THE WORKING GROUP WILL TAKE ACCOUNT OF THE SUBMISSION TOGETHER VIEWS EXPRESSED THROUGH THE MEDIA AND OTHER VENUES BEFORE FINALISING ITS RECOMMENDATIONS TO THE GOVERNMENT, MR SHIU SAID,
WITH
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