Codes of Conduct for Property Management Industry Entitled “Prevention of Corruption” and “Prescribed Conditions on Licences” to be Gazetted Tomorrow
The Property Management Services Authority (PMSA) today announced that pursuant to Section 5(1) of the Property Management Services Ordinance (Cap. 626) (PMSO), two Codes of Conduct entitled “Prevention of Corruption” and “Prescribed Conditions on Licences” respectively will be gazetted and take effect tomorrow (23 July 2021).
Code of Conduct – “Prevention of Corruption”
The content of this Code of Conduct covers the following aspects and sets out the requirements concerning corruption prevention and integrity matters:
- Integrity policy and requirements for licensed Property Management Companies (PMCs);
- Developing integrity capability of staff by licensed PMCs;
- Managing integrity risk by licensed PMCs; and
- Probity requirements for licensed Property Management Practitioners (PMPs).
Code of Conduct – “Prescribed Conditions on Licences”
This Code of Conduct provides practical guidelines for PMC and PMP licensees to comply with the requirements in the PMSO and the Property Management Services (Licensing and Related Matters) Regulation so as to avoid committing disciplinary offences.
The content of this Code of Conduct 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.
Mr Tony TSE, the PMSA Chairperson stated, “These codes and guides formulated by the PMSA aim to increase PMCs’ and PMPs’ awareness in respect of corruption prevention and provide a better-defined and clear reference guide on the licensing requirements for the licensees to follow, with a view to strengthening the professional integrity of the industry.”
The above codes and guides are formulated in consultation with the property management industry and owners’ organisations, which include the holding of a focus group discussion online on 8 June, whereby views from 8 industry associations were collected. The feedback collected from the industry and owners’ organisations has been appropriately reflected in the codes and guides. The PMSA has also consulted the Independent Commission Against Corruption in drafting the Code of Conduct on “Prevention of Corruption” and the related guide.
The above Codes of Conduct and Best Practice Guides can be downloaded from the following PMSA webpage:
https://www.pmsa.org.hk/en/regulatory/regulating-licensees#reg-04
The PMSA will further issue other Codes of Conduct and Best Practice Guides timely, covering different property management 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;
- Personal data protection;
- Payment handling on behalf of clients;
- Prevention of bid-rigging;
- Mechanism of handling emergencies;
- 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.
The PMSA has already issued the following Codes of Conduct: “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” and “Obligations of Property Management Companies regarding the Ending of their Appointment” as well as the related guides for the industry.
Ends/Thursday, 22 July 2021
Issued at HKT 18:00
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