There is more information in the Designated Professional Body guidance for the scheme and in a help sheet tailored to Property Managers, both viewable at www.rics.org/dpb.
To be granted a Designated Professional Body licence, a firm must have in place Professional Indemnity Insurance of €1,120,200 for each claim and €1,680,300 for all claims per annum as required by the DPB Rules Schedule 1. You should contact your insurers or brokers to ensure you have the correct level and terms of cover.
Under FSA guidelines we are required to ask for this figure in €'s, however providing your policy is equivalent to €1,120,200 at the date that you effected the policy, not at today's date, then you can answer Yes to this question.
Should you wish to check on past exchange rates, then please visit the Bank of England website to see daily spot rates against the Euro.
Please give us the best indication you can, of the amount of income which has been generated in the last 12 months, or since the firm was granted a Designated Professional Body licence if this is shorter.
Exempt regulated activities are one or more activities permitted under your DPB licence. Please provide the number of RICS members within the firm that are involved in any insurance activities under the DPB licence.
You should declare any new matters since your last application/renewal. You will need to provide further explanations regarding any yes answers. Yes answers will not automatically affect your licence status. We will review the information provided and may make further enquiries in order to assess your eligibility for licensed status. Failure to disclose may jeopardise your firm's licence status.
If you have any queries on eligibility please e-mail email@example.com or telephone +44 (0)20 7695 1670.
A Principal is a partner, statutory director or a Limited Liability Partnership (LLP) member. We also have a held out rule which means that if a person who is not a partner, statutory director or LLP member, shall still be treated as such if they:
By way of an example and in relation to our question, if a principal had been declared bankrupt and this had not been declared on your previous Designated Professional Body application form, then we would need to know about it and the answer should be completed "Yes".
A civil action is not criminal in nature and is a legal action brought to protect a private civil right or to bring about a civil remedy. Civil cases can relate to:
As an example we would want to know if there had been any Professional Indemnity Insurance claims.
For example, in the last ten years has any principal of the firm attended an RICS Professional Conduct Panel.
By way of an example, have there been any offences under the Property Misdescriptions Act 1991. Have there been any convictions or are there any charges pending by Trading Standards?
Road traffic offences that do not lead to a disqualification or prison sentence need not be mentioned. Please refer to Bye-Law 5(2)(4).
Section 4(2) of the Rehabilitation of Offenders Act 1974 leads to an entitlement to disregard convictions which have become spent under the Act.
This entitlement applies to our scheme.
The 1986 Act means that courts can impose orders disqualifying company directors. Further legislation enables disqualification undertakings to be given by director. These undertakings have the same effect as disqualification orders but do not need the court to be involved.
I confirm that I/we continue to comply with the basic conditions and ongoing obligations in accordance with the DPB rules.
Please see the RICS Designated Professional Body Scheme Rules and Guidance for further explanation.