§ (1) If the Secretary of State considers that a redress scheme (including one made by him or in pursuance of arrangements made by him) is satisfactory for the purposes of section (Power to require estate agents to belong to a redress scheme), he may approve it for those purposes.
§ (2) In determining whether a redress scheme is satisfactory the Secretary of State shall have regard to—
- (a) the provisions of the scheme;
- (b) the manner in which the scheme will be operated (so far as can be judged from the facts known to him); and
- (c) the respective interests of members of the scheme and of sellers and potential buyers of residential properties.
§ (3) A redress scheme may not be approved unless it makes satisfactory provision about the following matters (among other things)—
- (a) the matters about which complaints may be made (which may include non-compliance with the provisions of a code of practice or other document);
- (b) the ombudsman's duties and powers in relation to the investigation and determination of complaints (which may include power to decide not to investigate or determine a complaint);
- (c) the provision of information by the ombudsman to—
- (i) persons exercising functions under other schemes providing a means of redress for consumers; and
- (ii) the Secretary of State or any other person exercising regulatory functions in relation to the activities of estate agents.
§ (4) An application for approval of a redress scheme shall be made in such manner as the Secretary of State may determine, accompanied by such information as the Secretary of State may require.
§ (5) The person administering an approved redress scheme shall notify the Secretary of State of any change to the scheme as soon as practicable after the change is made."
§ After Clause 151, insert the following new clause—