The Property Management Services Authority (PMSA) held a focus group meeting today to collect views from 8 industry associations on the two upcoming Codes of Conduct and the relevant Best Practice Guides to be issued for the property management (PM) industry entitled, “Prevention of Corruption” and “Prescribed Conditions on Licences”. It is envisaged that the two codes of conduct will be gazetted and take effect in the third quarter of 2021.
Due to the situation of novel coronavirus epidemic and to maintain social distancing, the focus group meeting was held online.
Mr Tony TSE, the PMSA Chairperson said, “The two new Codes of Conduct and Best Practice Guides drafted by the PMSA provide practical guidelines on anti-corruption matters that property management companies (PMCs) and practitioners (PMPs) have to pay attention to when performing their duties, and supplement the prescribed conditions imposed on their licences so as to facilitate the licensees to meet the conditions and to avoid committing disciplinary offences.” Chairman TSE added, “The Codes of Conduct and the Best Practice Guides are formulated in consultation with the PM industry, owners’ organisations and the Independent Commission Against Corruption to ensure that the codes and guides are comprehensive and practical.”
Code of Conduct – “Prevention of Corruption” covers the following aspects:
- Integrity policy and requirements for licensed PMCs;
- Developing integrity capability of staff by licensed PMCs;
- Managing integrity risk by licensed PMCs; and
- Probity requirements for licensed PMPs.
Code of Conduct – “Prescribed Conditions on Licences” covers the following aspects:
- Have to continue to be a suitable person to hold the licence and meet the criteria for holding the licence;
- Licensed PMCs have to display copies of the licences;
- Licensed PMCs to appoint licensed PMPs (Tier 1) to manage properties;
- Displaying at the property the name and licence number of the licensed PMP (Tier 1) appointed; and
- Licensees to state the name and licence number on documents.
The licensing regime for PM industry (Licensing Regime) has come into operation since August last year. The PMSA has issued five codes of conduct and relevant Best Practice Guides including “General Code of Conduct”, “Complaint Handling Mechanism of Property Management Companies”, “Effective Control over Property Management Business by Property Management Companies”, “Handling Moneys Received on behalf of Clients by Property Management Companies”, as well as “Obligations of Property Management Companies regarding the Ending of their Appointment”. For details of the Codes of Conduct and the relevant Best Practice Guides, please refer to the following PMSA webpage:
The PMSA will issue other Codes of Conduct and Best Practice Guides timely, covering different PM areas in order to provide guidance to the industry, including but not limited to the following:-
- Handling instrument of appointing a proxy regarding meetings of owners’ corporation / owners;
- Provision of prescribed information and financial documents to clients;
- Mechanism of handling emergencies;
- Personal data protection;
- Managing scaffolding works to be carried out at a property;
- Carrying out procurement for clients; and
- Mechanism of managing distribution of promotional material at a property, etc.
Chairperson TSE further added, “Since the implementation of the licensing regime from August last year, as of early June, the PMSA has already issued over 3,300 PMP and PMC licences.”
Ends/Tuesday, 8 June 2021
Issued at HKT 18:00