To Dave, or any other forumite.

I have been in the property industry for years now and only now found out that an electrical compliance certificate is not a legal obligation during a property transaction.
I always though it was. Now I am told if agreed between the buyer and seller only then does it become an obligation.
I understand that all electrical installations require a certificate of compliance but my question then is why does this then not become a legal requirement before a property in transfered.

My question to Dave:
I bought a property in December 2007. I had the property checked by a trusted electrician and he confirmed there to be serious issues with the electrical installation.
I then on transfer received a certificate from the sellers electrician (also the agent selling the property)
Now during the year I have found numerous faults with the system.
What should my course of action be if I believe the certificate was not issued properly?