B.C. Reg. 226/2004, deposited May 21, 2004, pursuant to the MORTGAGE BROKERS ACT [Section 23]. Order in Council 501/2004, approved and ordered May 20, 2004.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective June 1, 2004, the Mortgage Brokers Act Regulations, B.C. Reg. 100/73, is amended

(a) by repealing section 6 (b) and (c) and substituting the following:

(b) file with the registrar, at the time of application to be registered and thereafter annually and at other times that the registrar may require, financial reports

(i) in a form satisfactory to the registrar,

(ii) in a form certified by the mortgage broker, or by a director or partner of the mortgage broker, and

(iii) if required by the registrar and if he or she considers it warranted in the particular circumstances, reported on by auditors engaged by the mortgage broker,

(c) file with the registrar the other information that the registrar may require in the form that the registrar may specify, , and

(b) in section 15 (1) in paragraph (j) of the definition of "sophisticated person" by striking out "Company Act" and substituting "Business Corporations Act".

— G. COLLINS, Minister of Finance; G. CAMPBELL, Presiding Member of the Executive Council.

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