New home

1   A new home is exempt from the definition of "new home" in section 1 of the Homeowner Protection Act if

(a) the new home is constructed on the following property owned in fee simple by Fairhaven Ministries Association:

Parcel Identifier: 004-462-866

District Lot 3847, except Plan 30214, Osoyoos Division Yale District,

(b) the new home is constructed

(i) for occupancy by employees of Fairhaven Ministries Association,

(ii) for occupancy under a licence to occupy from Fairhaven Ministries Association, or

(iii) for rental purposes,

(c) a restrictive covenant approved by the registrar is registered on the title restricting the sale or other disposition of the new home until January 1, 2020, and

(d) an application is made on or before January 1, 2014 for a building permit for the new home.