274. Approval of redress schemes by lead enforcement authority.

The lead enforcement authority1 may approve redress schemes2 for residential estate agents3 if it considers that the provisions of the scheme4 and the manner in which it will be operated (so far as can be judged from facts known to the authority)5 are satisfactory6. The lead enforcement authority must not, however, approve a scheme unless it considers that it makes satisfactory provision about:

  1.  

    (1)     the complaints7 which may be made under the scheme8;

  2.  

    (2)     the ombudsman's duties and powers in relation to the investigation and determination of complaints9;

  3.  

    (3)     the redress which the ombudsman may require members to provide