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[Supplement]
[Updated to September 6, 2000]
1 Section 1 of the Real Estate Act is amended
(a) in the definition of “agent” by adding the following:
(e.1) collects, attempts to collect or offers to collect money
(i) payable as amounts levied by strata corporations under the Strata Property Act, or
(ii) payable under a licence to occupy real estate,
(b) by adding the following definitions:
"customer" means a person or body of persons from whom a manufactured home dealer receives money in connection with the dealer's business;
"manufactured home" means a manufactured home as defined in the Manufactured Home Act;
"manufactured home dealer" means a person who acquires, disposes of, exchanges, trades, leases or otherwise deals in manufactured homes in the ordinary course of the person's business or under a scheme or plan for profit; ,
(c) in the definition of "real estate" by adding "a manufactured home," after "less than the fee simple,", and
(d) by repealing the definition of "salesperson" and substituting the following:
"salesperson" means a person, other than a nominee, employed by an agent or manufactured home dealer, either generally or in a particular case, to do anything referred to in the definition of agent or manufactured home dealer, as the case may be; .
RS1979-356-1; 1990-53-12; 1995-14-1(a); 1998-43-317.
2 Section 3 is amended by repealing subsections (1), (2) and (5) and substituting the following:
(1) A person must not act or hold himself, herself or itself out as an agent or manufactured home dealer without being the holder of a valid and subsisting agent's licence or manufactured home dealer's licence issued to the person under this Act by the superintendent.
(2) A person must not act or hold himself, herself or itself out as a salesperson unless the person is the holder of a valid and subsisting salesperson's licence or agent's licence issued to the person under this Act by the superintendent, and unless the person is employed by an agent or manufactured home dealer.
(5) If the applicant is a partnership or corporation and its name, in the opinion of the superintendent, is liable to be confused with that of a licensed agent or manufactured home dealer, the superintendent may refuse to issue a licence to the applicant in that name.
RS1979-356-3; 1990-53-12.
3 Section 4 is amended in subsections (3), (4) and (5) by adding "or a manufactured home dealer's licence" after "agent's licence" wherever it appears.
RS1979-356-4; 1990-53-12.
4 Section 7 (2) by adding "or a manufactured home dealer" after "individual agent".
RS1979-356-7; 1990-53-12.
5 Section 9 is amended
(a) in subsection (1) by adding "or manufactured home dealer" after "An agent",
(b) in subsection (2) by striking out "by the agent",
(c) in subsection (3) by adding "or manufactured home dealer" after "employed by an agent", and
(d) in subsection (4) by adding "or licensed manufactured home dealer" after "by a licensed agent".
RS1979-356-9; 1990-53-12.
6 Section 10 is amended by adding "or manufactured home dealers" after "names of all agents".
RS1979-356-10; 1990-53-12.
7 Section 12 (a) and (b) is amended by adding "or manufactured home dealers" after "salespersons".
RS1979-356-13; 1990-53-12.
8 Section 15 is amended
(a) in subsection (1) by adding "or manufactured home dealer" after "Every person who is an agent", and
(b) in subsection (2) by striking out "An agent" and substituting "Every agent and manufactured home dealer".
RS1979-356-14; 1990-53-12.
9 The following section is added:
17.1 (1) A manufactured home dealer must, on receipt, pay into his or her trust account all money received from a customer.
(2) A nominee, salesperson or employee of a manufactured home dealer must, on receipt, pay or deliver to the manufactured home dealer by whom he or she is employed all money received from a customer.
(3) Unless otherwise prescribed, no money may be drawn from a manufactured home dealer's trust account, except the following:
(a) money paid to or on behalf of a customer from funds that have been deposited in the trust account to the customer's credit;
(b) money required for payment to the manufactured home dealer from funds paid by a customer on account of the purchase price of a manufactured home that has been delivered to the customer and in respect of which the customer's interest has been registered in the manufactured home registry office;
(c) money paid into the trust account by mistake;
(d) under an order of a court or the registrar.
RS1979-356-17; 1990-53-12; 1993-14-7.
10 Section 31 (10) is amended by adding ", after a hearing," after "the superintendent".
1984-26-46 (a).
11 Section 32 (1) is amended by striking out "If a real estate agent's licence or real estate salesperson's licence" and substituting "When the licence of a licensee".
RS1979-356-21.
12 Section 33 is repealed and the following substituted:
33 (1) When an agent or manufactured home dealer has ceased to carry on business for a period of 5 years, he, she or it ceases to be entitled to act as an agent or manufactured home dealer, and his, her or its licence must immediately be surrendered to the superintendent.
(2) If after the 5 year period, the agent or manufactured home dealer applies for an agent's or manufactured home dealer's licence, he, she or it is not be required to serve a further term as a salesperson but is required to pass the examinations prescribed for an agent or manufactured home dealer and to pay the prescribed fees.
RS1979-356-23; 1990-53-12; 1993-14-7.
13 Section 34 is repealed and the following substituted:
34 A licensed agent or manufactured home dealer who is not carrying on business as such is not entitled to employ a salesperson or to retain another agent or manufactured home dealer to represent him, her or it as a salesperson, and such employment or retainer is not to be taken into account as service to qualify as an agent or manufactured home dealer.
RS1979-356-24; 1990-53-12.
14 Section 55 (2) is amended by adding the following paragraphs:
(z.1) prescribing one or more classes of trades in real estate and providing for the issue of licences restricted to a prescribed class of trade;
(z.2) exempting licensees whose licences are restricted solely to trades in manufactured homes from a certain provision of this Act, and instead, make regulations respecting the licensees so exempted.
RS1979-356-44; 1990-53-12.
15 Section 80 is amended by adding the following subsection:
(3) If, under a regulation made under subsection (1), some or all of Part 2 does not apply to an offer for sale or lease of land or a sale or lease of land or both, the developer of that land, before receiving any money from a purchaser or lessee or a prospective purchaser or lessee in respect of the purchase or lease of that land, must enter into a trust agreement that
(a) protects the funds of a purchaser, lessee or prospective purchaser or lessee,
(b) contains the terms and conditions, if any, as may be prescribed by the superintendent, and
(c) names as trustee for the funds a member of a class of person as may be prescribed by the superintendent.
1984-26-50.
16 Sections 1 to 15 come into force by regulation of the Lieutenant Governor in Council.
RS1979-356-65; 1984-26-89; 1995-14-25.
Copyright (c) 2001: Queen’s Printer, Victoria, British Columbia, Canada