Section 1 definition of "approving authority" paragraph (b) BEFORE amended by 2007-36-156(a), effective April 3, 2009 (BC Reg 55/2009).
(b) for land located in a regional district, excluding a municipality and Nisg̱a'a Lands, the regional district board;
Section 1 definition of "approving authority" paragraph (b.1) was added by 2007-36-156(b), effective April 3, 2009 (BC Reg 55/2009).
Section 1 definitions of "consolidated disclosure statement", "new purchaser" and "phase disclosure statement" were added by 2014-14-56(a), effective May 29, 2014 (Royal Assent).
Section 1 definitions of "developer" and "disclosure statement" BEFORE amended by 2014-14-56(b) and (c), effective May 29, 2014 (Royal Assent).
"developer" means a person who, directly or indirectly, owns, leases or has a right to acquire or dispose of development property;
"disclosure statement" means a statement that discloses material facts about a development property, prepared in accordance with section 14 (2) [filing disclosure statements], and includes any amendment made to a disclosure statement;
Section 1 definition of "Authority" was added by 2021-2-169(a), effective August 1, 2021 (BC Reg 208/2021).
Section 1 definition of "superintendent" BEFORE amended by 2021-2-169(b), effective August 1, 2021 (BC Reg 208/2021).
"superintendent" means the person appointed as Superintendent of Real Estate by order of the Lieutenant Governor in Council;
Section 11 (3) BEFORE amended by 2018-25-1, effective May 31, 2018 (Royal Assent).
(3) Without limiting subsection (1) or (2), if a development unit may be affected by a mortgage, lien or other encumbrance that secures or evidences the payment of money,
(a) the mortgage, lien or other encumbrance must provide, without condition, that a purchaser who complies with the terms and conditions of the purchaser's purchase agreement obtains title, or the other interest for which the purchaser has contracted, free and clear of the mortgage, lien or other encumbrance, or
(b) the developer must make other arrangements, satisfactory to the superintendent, to assure title or the other interest for which the purchaser has contracted.
Section 15.1 (2) BEFORE amended by 2018-25-2, effective May 31, 2018 (Royal Assent).
(2) A phase disclosure statement must comply with section 14 (2) [filing disclosure statements] in relation to the development property and the development units in the phase.
Section 15.2 (2) (part) BEFORE amended by 2018-25-3, effective May 31, 2018 (Royal Assent).
(2) A consolidated disclosure statement must contain the following:
Section 18 (3) (a) BEFORE amended by 2007-7-79, effective July 1, 2007 (BC Reg 130/2007).
(a) the period under section 21 [rights of rescission] has expired,
Section 18 (4) (a) BEFORE amended by 2007-7-79, effective July 1, 2007 (BC Reg 130/2007).
(a) the period under section 21 has expired,
Section 18 (4) (b) and (c) BEFORE amended by 2014-14-60, effective May 29, 2014 (Royal Assent).
(b) the purchaser has failed to pay a subsequent deposit when required by the purchase agreement under which the deposit held by the trustee was paid,
(c) under the terms of the purchase agreement, if the purchaser fails to pay a subsequent deposit when required, the developer may elect to cancel the purchase agreement and, if the developer elects to cancel the purchase agreement, the amount of the deposit is forfeited to the developer, and
Section 19 (3) BEFORE amended by 2007-7-80, effective July 1, 2007 (BC Reg 130/2007).
(3) On receiving from an insurer the original or a true copy of a deposit protection contract in relation to a deposit a trustee holds under section 18 (1), the trustee must pay the deposit to the developer who entered into the deposit protection contract and the developer may use that deposit only for the developer's own purposes.
Section 19 (1) definition of "deposit protection contract" BEFORE amended by 2012-37-165, effective July 1, 2012 (BC Reg 191/2012) [as amended by 194/2012].
"deposit protection contract" has the same meaning as in section 189.2 (1) of the Insurance Act;
Section 20 (1) (part) BEFORE amended by 2007-7-81, effective July 1, 2007 (BC Reg 130/2007).
(1) The superintendent may exempt, with or without conditions, the following from any provision of this Part:
Part 2.1, sections 20.1 to 20.6, was enacted by 2018-25-4, effective January 1, 2019 (BC Reg 230/2018).
Section 21 (3) BEFORE amended by 2014-14-61(a), effective May 29, 2014 (Royal Assent).
(3) Regardless of whether title, or the other interest for which a purchaser has contracted, to a development unit has been transferred, if a purchaser is entitled to a disclosure statement in respect of a development property under this Act and does not receive the disclosure statement, the purchaser may rescind, at any time, a purchase agreement of a development unit in that development property by serving a written notice of rescission on the developer.
Section 21 (4) BEFORE amended by 2014-14-61(c), effective May 29, 2014 (Royal Assent).
(4) A notice of rescission under subsection (2) or (3) must be served according to the regulations.
Section 24 definition of "non-compliant" paragraph (d) (ii) BEFORE amended by 2018-25-5, effective January 1, 2019 (BC Reg 230/2018).
(ii) a false or misleading statement in a certification under section 18 [handling deposits] or in an investigation under section 25 [investigations];
Section 25 (1) BEFORE amended by 2018-25-6(a), effective May 31, 2018 (Royal Assent).
(1) If the superintendent has reason to believe that a developer is, or has been, non-compliant, the superintendent may
(a) conduct an investigation to determine whether the developer is, or has been, non-compliant, or
(b) by order, appoint an investigator to conduct an investigation.
Section 25 (2) (part) BEFORE amended by 2018-25-6(b), effective May 31, 2018 (Royal Assent).
(2) For the purpose of an investigation, a person carrying out the investigation may do one or more of the following:
Section 25 (3) BEFORE amended by 2018-25-6(d), effective May 31, 2018 (Royal Assent).
(3) A person referred to in subsection (2) (a) must not withhold or destroy, conceal or refuse to provide any information or thing reasonably required for the purposes of an investigation under this section.
Section 25 (4) BEFORE amended by 2018-25-6(e), effective May 31, 2018 (Royal Assent).
(4) An investigator appointed under subsection (1) (b) must provide the superintendent with a written report of the investigation.
Section 29 (2) BEFORE amended by 2007-9-60, effective June 21, 2007 (BC Reg 226/2007).
(2) For the purposes of a hearing, the superintendent has all the powers, protection and privileges of a commissioner under sections 12 [protection of commissioners], 15 [power to summon witnesses] and 16 [power to enforce summons and punish for contempt] of the Inquiry Act.
Section 30 (1) (d) (i) and (ii) BEFORE amended by 2018-25-8, effective May 31, 2018 (Royal Assent).
Section 31 (2) (b) BEFORE amended by 2021-2-170, effective August 1, 2021 (BC Reg 208/2021).
(b) may include remuneration expenses for employees, officers or agents of the superintendent engaged in the investigation or hearing.
Section 36 (1) (b) (ii) BEFORE amended by 2021-2-171(a), effective August 1, 2021 (BC Reg 208/2021).
(ii) comply with terms or conditions set by the superintendent, which may include a condition that the developer pay the expenses, or part of the expenses, incurred by the superintendent in relation to the undertaking;
Section 36 (2) (b) BEFORE amended by 2021-2-171(b), effective August 1, 2021 (BC Reg 208/2021).
(b) may include remuneration expenses for employees, officers or agents of the superintendent engaged in matters related to the undertaking.
Section 39 (1) (a) BEFORE amended by 2018-25-9, effective May 31, 2018 (Royal Assent).
section 4 [subdivision lots and bare land strata lots],
section 5 [strata lots and leasehold units],
section 6 [cooperative interests],
section 7 [time share interests],
section 8 [shared interest in land in B.C.],
section 9 [shared interests in land outside B.C.],
section 10 (4) (b) [early marketing with permission],
section 11 [assurance of title],
section 12 [utilities and services],
section 13 (2) (b) [deemed adequate arrangements],
section 14 [filing disclosure statements],
section 15 [providing disclosure statements to purchasers],
section 16 [non-compliant disclosure statements],
section 18 [handling deposits],
section 19 [developer use of deposit],
section 21 (5) [rights of rescission], or
section 25 (3) [investigations];
Section 39 (1) (a) BEFORE amended by 2018-25-10, effective January 1, 2019 (BC Reg 230/2018).
section 4 [subdivision lots and bare land strata lots],
section 5 [strata lots and leasehold units],
section 6 [cooperative interests],
section 7 [time share interests],
section 8 [shared interest in land in B.C.],
section 9 [shared interests in land outside B.C.],
section 10 (4) (b) [early marketing with permission],
section 11 [assurance of title],
section 12 [utilities and services],
section 13 (2) (b) [deemed adequate arrangements],
section 14 [filing disclosure statements],
section 15 [providing disclosure statements to purchasers],
section 15.1 (2) or (4) [phase disclosure statements],
section 15.2 (2) or (4) [consolidated disclosure statements],
section 16 [non-compliant disclosure statements],
section 18 [handling deposits],
section 19 [developer use of deposit],
section 21 (5) [rights of rescission], or
section 25 (3) [investigations];
Section 40 BEFORE amended by 2018-25-11, effective May 31, 2018 (Royal Assent).
40 A person who commits an offence under section 39 [offences] is liable,
(a) in the case of a corporation,
(i) on a first conviction, to a fine of not more than $100 000, and
(ii) on each subsequent conviction, to a fine of not more than $200 000, and,
(b) in the case of an individual,
(i) on a first conviction, to a fine of not more than $100 000 or to imprisonment for not more than 2 years, or to both, and
(ii) on each subsequent conviction, to a fine of not more than $200 000 or to imprisonment for not more than 2 years, or to both.
Section 43 (1) BEFORE amended by 2007-14-201,Sch, effective December 1, 2007 (BC Reg 354/2007).
(1) In relation to any requirement or authorization established by or under this Act that a notice or another record be served on a person, that service may be done by substituted service in accordance with an order under subsection (2).
Section 44 BEFORE re-enacted by 2021-2-172, effective August 1, 2021 (BC Reg 208/2021).
Delegation of superintendent's powers
44 (1) The superintendent may delegate, in writing, to a person employed under the Public Service Act any of the superintendent's powers or duties under this Act or the Real Estate Services Act.
(2) A delegation under this section
(a) may be made subject to any terms and conditions the superintendent considers appropriate,
(c) does not prevent the superintendent from exercising a delegated power or performing a delegated duty.
Section 45 BEFORE re-enacted by 2021-2-173, effective August 1, 2021 (BC Reg 208/2021).
Immunity from legal action
45 (1) In this section, "protected individual" means an individual who is or was any of the following:
(b) an employee of or any other individual acting on behalf of, or under the direction of, the superintendent.
(2) Subject to subsection (4), no action or other legal proceedings for damages lies or may be brought against a protected individual or the government because of anything done or omitted
(a) in the performance or intended performance of any duty, or
(b) in the exercise or intended exercise of any power
under sections 27 [notice of hearing] to 32 [orders in urgent circumstances].
(3) Subject to subsection (4), no action or other legal proceedings for damages lies or may be brought against a protected individual because of anything done or omitted
(a) in the performance or intended performance of any duty under this Act, other than a duty under the provisions referred to in subsection (2), or
(b) in the exercise or intended exercise of any power under this Act, other than a power under those provisions.
(4) Subsections (2) and (3) do not apply to a protected individual in relation to anything done or omitted in bad faith.
(5) Subsection (3) does not absolve the government from vicarious liability arising out of anything done or omitted by a protected individual for which it would be vicariously liable if that subsection were not in force.
Section 46 (2) (a) (part) BEFORE amended by 2018-25-12(a), effective January 1, 2019 (BC Reg 230/2018).
(a) exempting from all or part of a provision of Part 2 [Marketing and Holding Deposits], with or without conditions,