This Fact sheet is up to date at January 2009.
The contents of the HIP, both compulsory (Required) and voluntary (Authorised) are set out in the regulations contained in SI 2007 No 1667 as varied by a number of amending statutory instruments
Any new system needs to be monitored to ensure that the new rules are being followed.  The Office of Fair Trading (OFT) has overall regulatory control of estate agents and, through the local Trading Standards Officers (TSO’s), monitors their activities in the property market.

TSO’s have therefore been given the additional task of monitoring and enforcing the HIPs regime.  They have a right to request a copy pack for any property that is on the market – this must be provided within 7 days and without charge.

The TSO’s will be checking that there is a pack for each property and that it complies with the regulations governing pack contents.

If a TSO discovers a breach a Penalty Charge Notice (PCN) can be issued to the defaulting estate agent or seller.

There are specific rules as to the content and service of these notices and rights of appeal against them leading ultimately to the County Court 

The amount payable on receipt of a PCN is initially to be a £200 ‘fine’.  It is believed that this will not be a one-off fine but may be imposed more than once for the same breach if it is not remedied after the issue of the first PCN.

The policing of the regime at the beginning will depend on the attitude of the local TSO’s. It is expected that TSO's will receive fresh funding to proactively monitor compliance.

There is a sting in the tail of PCN’s for estate agents.  TSO’s MAY report ANY breaches of the HIPs regime by an estate agent to the OFT and MUST report the issue of a PCN.  Even if no PCN is issued to an estate agent the TSO can still report the breach.

The OFT has powers to warn an estate agent about unacceptable conduct and even to prohibit working in the industry for a period of time.

The issue of a PCN to a seller must also be reported to the OFT but it is debatable as to the powers they may have in such a case.

The issue of a PCN to any other professional for a breach will probably result in the OFT notifying the professional body concerned who would then consider disciplinary action.