04041_01 Real Estate Development Marketing Act B.C.

for land located in a municipality, the municipal council;

for land located in a regional district, excluding municipalities, treaty lands and Nisg̱a'a Lands, the regional district board;

for treaty lands, the governing body of the treaty first nation;

for land located in Nisg̱a'a Village Lands, the Nisg̱a'a Village Government;

for land located in Nisg̱a'a Lands, excluding Nisg̱a'a Village Lands, the Nisg̱a'a Lisims Government;

in relation to land located outside British Columbia, the local government body that has similar authority in relation to that land;

an approving officer as defined in the Land Title Act, and

in relation to land located outside British Columbia, a person who performs a similar function;

a strata lot in a bare land strata plan, and

in relation to land located outside British Columbia, a similar lot;

a bare land strata plan as defined in the Strata Property Act, and

in relation to land located outside British Columbia, a similar plan;

a corporation, as defined in the Business Corporations Act,

a limited liability company, as defined in the Business Corporations Act,

a partnership, and

an entity incorporated or otherwise created outside British Columbia that is similar to one described in paragraphs (a) to (c)

a right

as a result of the right described in paragraph (a), a right to use or occupy a part of the land in which a cooperative association has an interest;

5 or more subdivision lots in a subdivision, unless each lot is 64.7 ha or more in size;

5 or more bare land strata lots in a bare land strata plan;

5 or more strata lots in a stratified building;

2 or more cooperative interests in a cooperative association;

5 or more time share interests in a time share plan;

2 or more shared interests in land in the same parcel or parcels of land;

5 or more leasehold units in a residential leasehold complex;

a subdivision lot;

a bare land strata lot;

a strata lot;

a cooperative interest;

a time share interest;

a shared interest in land;

a leasehold unit;

in the case of a corporation as defined in the Business Corporations Act, a director as defined in that Act, and

in the case of a partnership or other entity,

a land title office under the Land Title Act, and

in relation to land located outside of British Columbia, an office that performs a similar function;

to sell or lease,

to offer to sell or lease, and

to engage in any transaction or other activity that will or is likely to lead to a sale or lease;

a fact, or a proposal to do something, that affects, or could reasonably be expected to affect, the value, price, or use of the development unit or development property;

the identity of the developer;

the appointment, in respect of the developer, of a receiver, liquidator or trustee in bankruptcy, or other similar person acting under the authority of a court;

any other prescribed matter;

a false or misleading statement of a material fact, or

an omission to state a material fact;

a purchaser, from a developer, of a development unit,

a lessee, from a developer, of a development unit, and

a prospective purchaser or lessee, from a developer, of a development unit;

the parcel or parcels are owned or leased, directly or indirectly, by the person and at least one other person, and

as part of any arrangement relating to the acquisition of the person's interest, that person's right of use or occupation of the land is limited to a part of the land;

a sketch plan as defined in the Land Title Act, and

in relation to land located outside British Columbia, a similar plan;

a strata lot as defined in the Strata Property Act in a stratified building, and

in relation to land located outside of British Columbia, a similar interest;

any strata plan as referred to in the Strata Property Act, and

in relation to land located outside British Columbia, a similar plan;

each have a right of recurring use, occupation or possession of all or part of the land, including any accommodations or facilities located on it, on a periodic basis, and

may or may not acquire an ownership interest in the land that is the subject of the plan.

the development unit being marketed is located in British Columbia or not,

the land that a developer owns, leases or has a right to acquire or dispose of

a developer

meet the applicable requirements of Division 2 [Preliminary Requirements or Approvals],

ensure that arrangements have been made in accordance with Division 3 [Title Assurance and Utility Payments]

file and provide a disclosure statement in accordance with Division 4 [Disclosure Statements].

a subdivision plan or bare land strata plan, as applicable, has been deposited in a land title office, or

an approving officer has given preliminary layout approval.

a strata plan or sketch plan, as applicable, has been deposited in a land title office, or

the appropriate municipal or other government authority has issued a building permit in relation to the strata lot or leasehold unit.

the land, accommodations and facilities that are subject to the time share plan can be lawfully used or occupied by a purchaser, or

the appropriate municipal or other government authority has, in relation to the land that is to be subject to the time share interest,

section 242 (1) to (6) and (11) [approval for conversion of previously occupied buildings] of the Strata Property Act applies in respect of the intended marketing as if it were an intended conversion into strata lots under that Act, and

the approving authority must deal with the matter as if the intended marketing were an intended conversion into strata lots under that Act.

consider

notify the developer, in writing, that

the shared interest in land can be lawfully used or occupied by a purchaser, or

the appropriate municipal or other government authority has, in relation to the land that is to be subject to the shared interest in land,

approval in principle to construct or otherwise create the development unit from the appropriate municipal or other government authority, and

the superintendent's permission to begin marketing.

attach conditions to the permission, and

at any time, revoke the permission.

is deemed to have the superintendent's permission under subsection (1) (b), and

must comply with the terms and conditions, if any, that are stated in the policy statement.

arrangements have been made for title to the development unit to be held in trust by a lawyer, notary public or another person, or class of persons, specified by the superintendent until title or the other interest for which the purchaser has contracted is assured,

the developer provides a bond to the superintendent or other person specified by the superintendent for the benefit and protection of purchasers, with surety in the amount and subject to the terms required by the superintendent, or

the developer has made other arrangements that are satisfactory to the superintendent.

ensure that the mortgage, lien or other encumbrance provides, 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

make other arrangements, satisfactory to the superintendent, to assure title or the other interest for which the purchaser has contracted.

arrangements have been made for title to the development unit to be held in trust by a lawyer, notary public or another person, or class of persons, specified by the superintendent until the cost of utilities and other services associated with the development unit has been paid,

the developer provides a bond to the superintendent or other person specified by the superintendent for the benefit and protection of purchasers, with surety in the amount and subject to the terms required by the superintendent, or

the developer has made other arrangements that are satisfactory to the superintendent.

is deemed to have made adequate arrangements to ensure as applicable, and

must comply with the terms and conditions, if any, that are stated in the policy statement.

prepared a disclosure statement respecting the development property in which the development unit is located, and

filed with the superintendent

be in the form and include the content required by the superintendent,

without misrepresentation, plainly disclose all material facts,

set out the substance of a purchaser's rights to rescission as provided under section 21 [rights of rescission], and

be signed as required by the regulations.

the developer files a phase disclosure statement under section 15.1 [phase disclosure statements] before marketing development units in the successive phase;

the developer does not market any development units in any previous phase of the development property.

permit the person to inspect, at the superintendent's office and during regular business hours, a disclosure statement filed under this section, and

provide a copy of a disclosure statement filed under this section, or a copy of part of it, to a person who requests it.

a copy of the disclosure statement prepared in respect of the development property in which the development unit is located has been provided to the purchaser,

the purchaser has been afforded reasonable opportunity to read the disclosure statement, and

the developer has obtained a written statement from the purchaser acknowledging that the purchaser had an opportunity to read the disclosure statement.

retain a written statement obtained under subsection (1) (c) for a period of 3 years or a longer period prescribed by regulation, and

produce the written statement for inspection by the superintendent on the superintendent's request.

may, before marketing development units in a phase, file with the superintendent a phase disclosure statement under this section, and

may provide the phase disclosure statement to a new purchaser.

the first disclosure statement filed in relation to the development property by the developer,

any amendment to a disclosure statement filed prior to or at the same time as the filing of the phase disclosure statement,

any consolidated disclosure statements filed in relation to other phases of the development property, or

any phase disclosure statements filed in relation to other phases of the development property.

may also file with the superintendent a consolidated disclosure statement under this section, and

may provide the consolidated disclosure statement to a new purchaser.

in the case of a phase of a development property with respect to which a phase disclosure statement has been filed, the content of the phase disclosure statement filed in relation to the phase as modified by any subsequently filed amendment to the phase disclosure statement;

in every other case, the content of the first disclosure statement in relation to the development property filed by the developer as modified by any subsequently filed amendment to the first filed disclosure statement.

the first disclosure statement filed in relation to the development property by the developer,

the phase disclosure statement in a case where the consolidated disclosure statement is in relation to a phase of a development property with respect to which a phase disclosure statement has been filed,

any amendments to a disclosure statement filed prior to or at the same time as the filing of the consolidated disclosure statement, or

any consolidated disclosure statement previously filed in relation to the development property.

file with the superintendent, as applicable under subsection (2) or (3),

within a reasonable time after filing a new disclosure statement or an amendment under paragraph (a), provide a copy of the disclosure statement or amendment to each purchaser

is respecting a matter set out in paragraph (b) or (c) of the definition of "material fact" in section 1 [definitions],

is respecting a matter set out in paragraph (d) of the definition of "material fact" in section 1, and the regulation prescribing the matter specifies that a new disclosure statement must be filed if subsection (1) of this section applies, or

is of such a substantial nature that the superintendent gives notice to the developer that a new disclosure statement must be filed.

until the developer has complied with subsection (1) (a), or

unless permitted by the superintendent.

the merits of any statement contained in a disclosure statement;

whether a disclosure statement contains a misrepresentation;

whether a disclosure statement filed with the superintendent, or the information contained in it, meets the requirements of this Act and the regulations.

if the money was paid into the trust account in error;

to the purchaser with the written consent of the purchaser and the developer;

in accordance with subsection (3) or (4);

in accordance with section 19 [developer use of deposit] of this Act;

in accordance with section 21 [rights of rescission] of this Act;

in accordance with section 32 [unclaimed money held in trust] of the Real Estate Services Act;

in accordance with section 33 [payment of trust funds into court] of the Real Estate Services Act;

in accordance with a court order;

in accordance with the regulations under this Act.

the purchaser who paid the deposit has no right to rescission under section 21 [rights of rescission],

if required, the subdivision plan, strata plan or other plan has been deposited in the appropriate land title office,

the approvals required for the lawful occupation of the development unit have been obtained, and

as applicable,

the purchaser who paid the deposit has no right to rescission under section 21 [rights of rescission],

the purchaser has failed to pay a subsequent deposit or the balance of the purchase price when required by the purchase agreement under which the deposit held by the trustee was paid,

under the terms of the purchase agreement, if the purchaser fails to pay a subsequent deposit or the balance of the purchase price 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

the developer has elected to cancel the purchase agreement.

from an insurer the original or a true copy of the deposit protection contract, and

from the developer a certification, in writing, that the purchaser who paid the deposit has no right to rescission under section 21 [rights of rescission].

a person;

land that is, or will be, the subject of development;

a transaction.

the person is not complying with the terms or conditions of the exemption, or

the exemption, if applied to that land or transaction, would be detrimental to the public interest.

a term prohibiting any assignment of the purchase agreement without the prior consent of the developer;

a notice that, before the developer consents to an assignment of the purchase agreement, the developer will be required to collect from the proposed parties to the assignment agreement the information and records referred to in subsection (2);

a term requiring all proposed parties to an assignment agreement to give to the developer the information and records referred to in subsection (2).

respecting the identity of the party,

respecting contact and business information of the party,

respecting the terms of the assignment agreement, and

required for the purposes of section 20.5 [confidentiality].

collect from the parties to the assignment a copy of the written and signed assignment agreement, and

keep a copy of the assignment agreement in the prescribed manner for the prescribed period.

for each assignment to which the developer consents, the information and records collected under section 20.3 (2) [requirements respecting assignments];

if paragraph (a) does not apply, a statement that no information or records were collected under section 20.3 (2).

for the purposes of administering or enforcing this Act, a taxation Act, the Home Owner Grant Act or the Land Tax Deferment Act,

in court proceedings related to this Act or an Act referred to in paragraph (a),

under an agreement that

for the purpose of the compilation of statistical information by the government or the government of Canada, or

to the British Columbia Assessment Authority.

a person,

land that is, or will be, the subject of development, or

a transaction.

if the purchaser is not entitled to receive a disclosure statement under this Act, or

as a result of receiving an amendment to a disclosure statement in respect of a development property, including an amendment described in section 16 (1) (a) (ii) [non-compliant disclosure statements], unless the purchaser has not previously received any disclosure statement in respect of that development property.

the date that the purchase agreement was made, and

the date that the developer obtained, under section 15 (1) (c) [providing disclosure statements to purchasers], a written statement from the purchaser acknowledging that the purchaser had an opportunity to read

an amendment to a disclosure statement;

a disclosure statement that the purchaser becomes entitled to receive as a result of a request made under section 15.1 (4) [phase disclosure statements];

a disclosure statement that the purchaser becomes entitled to receive as a result of a request made under section 15.2 (4) [consolidated disclosure statements].

the purchaser does not become entitled to receive the amendment to the disclosure statement only as a result of a request made under section 15.1 (4) [phase disclosure statements] or 15.2 (4) [consolidated disclosure statements];

the amendment the purchaser is entitled to receive relates to or would have related to a fact or proposal to do something that is a material fact on the earlier of the following dates:

the amendment the purchaser is entitled to receive relates to or would have related to a fact or proposal to do something that was or would have been reasonably relevant to the purchaser in deciding to enter into the purchase agreement;

no more than one year has elapsed after the transfer of title or the other interest for which that purchaser has contracted.

file a disclosure statement with the superintendent, or

provide a disclosure statement to a purchaser

filed a disclosure statement with the superintendent, or

provided a disclosure statement to any purchaser

is deemed to have relied on the misrepresentation, and

has a right of action for damages against

a disclosure statement contains a misrepresentation at the time at which a purchaser and a developer enter into a purchase agreement, and

the misrepresentation is removed or otherwise corrected after the purchaser and developer have entered into the purchase agreement,

that

that, after filing the disclosure statement but before entering into a purchase agreement with the purchaser in relation to a development unit in the development property to which the disclosure statement relates, the individual

was based on, or contained, a misrepresentation, or

was unfairly represented in the disclosure statement.

made reasonable inquiries to determine whether the disclosure statement contained a misrepresentation, and

believed that there had been no misrepresentation.

the breach involves a disclosure statement that does not comply with the Act or the regulations, but there is no misrepresentation in the disclosure statement concerning a material fact that was or would have been reasonably relevant to the purchaser in deciding to enter into the purchase agreement;

the breach involves a disclosure statement that includes a misrepresentation concerning a material fact, but the developer was not aware of the misrepresentation at the time the purchaser and the developer entered into the purchase agreement and the misrepresentation is corrected in an amendment to the disclosure statement to which both of the following apply:

contravening a provision of this Act or the regulations,

failing to comply with the terms or conditions of

failing to follow any direction of the superintendent in relation to an arrangement made under section 11 (2) (c) or (3) (b) [assurance of title] or 12 (2) (c) [utilities and services], and

making, or allowing to be made,

naming a specific person as an investigator;

providing that a person who holds a specified title or position is an investigator.

at any time during business hours, inspect and copy records that are located on the business premises of

require a person referred to in paragraph (a) to produce information, records or other things in the person's possession or control;

require a person who the superintendent or investigator has reason to believe has in the person's possession or control information, records or other things relevant to the investigation to produce the information, records or things.

the grounds for believing that the developer is, or has been, non-compliant, and

the grounds for believing that the seizure will produce evidence relevant to that matter.

designate the person who will conduct the seizure and authorize that person to conduct it,

state the time and place the seizure will occur, and

give any other directions necessary to carry out the seizure.

describe the matter that is to be the subject of the hearing,

specify the time and place set for commencement of the hearing,

advise the recipient of the notice that the superintendent is entitled to proceed with the hearing in the absence of the recipient of the notice, and

be accompanied by either

in the case of delivery to a current developer, by personal service or by mailing the notice by registered mail to the address of the developer shown in that developer's disclosure statement;

in the case of delivery to a person who is not a current developer, by personal service;

in any case, in accordance with an order for substituted service under section 43 [substituted service].

the superintendent may make the proposed order under section 30, and

no further proceedings may be taken under this Division with respect to the matter, other than to enforce the terms of the order as proposed.

in any proceeding under this Act, other than as referred to in subsection (2) (b), or

in any civil proceeding with respect to the matter.

order the developer to cease or refrain from marketing one or more development units;

order the developer to carry out a specified activity related to marketing;

order the developer to comply, or to carry out a specified activity for the purpose of complying, with a prohibition or requirement of

order the developer to pay amounts in accordance with section 31 [recovery of enforcement expenses];

order the developer to pay an administrative penalty in an amount of

the developer,

a person who was an officer, director, controlling shareholder or partner of the developer at the time of non-compliance, if that person authorized, permitted or acquiesced in the non-compliance, or

both the developer and a person described in paragraph (b).

vary or rescind an order made under subsection (1), and

as a condition of varying or rescinding an order under paragraph (a), require an undertaking under section 36 (1) [undertakings].

an investigation under section 25 [investigations];

the hearing.

must be for the matters, and must not exceed the amounts, set out in the regulations, and

may include remuneration expenses for employees, officers or agents of the Authority engaged in the investigation or hearing.

that the developer is, or has been, non-compliant,

that the length of time that would be required to complete an investigation or hold a hearing, or both, would be detrimental to the public interest, and

that it is in the public interest to make the order.

whether or not a notice of hearing has been issued under section 27 [notice of hearing],

without giving notice to the developer, and

without providing the developer an opportunity to be heard.

a copy of the order and written reasons for it, and

written notice that a hearing may be held respecting the order.

provide notice of the hearing in accordance with section 27, and

hold the required hearing in accordance with section 29 [hearings].

must confirm, revoke or vary the order, and

may make any other order referred to in section 30 (1).

publish, in accordance with the regulations, each order of the superintendent made under section 30 [orders] or 32 [orders in urgent circumstances], and

provide a copy of an order published under paragraph (a) to any person who requests it and pays the prescribed fee.

this Act or the regulations, or

an order of the superintendent under this Act.

give notice to the developer of the superintendent's reason for believing that the developer is or has been non-compliant, and

accept a written undertaking from the developer to do one or more of the following:

must be for the matters, and must not exceed the amounts, set out in the regulations, and

may include remuneration expenses for employees, officers or agents of the Authority engaged in matters related to the undertaking.

section 11 (2) (c) and (3) (b) [assurance of title];

section 12 (2) (c) [utilities and services];

section 16 (2) (c) [non-compliant disclosure statements];

section 20 (2) or (3) [superintendent's exemptions];

section 30 [orders];

section 32 [orders in urgent circumstances].

contravenes

neglects or refuses to comply with an order of the superintendent under this Act;

subject to subsection (2), makes a statement in a disclosure statement filed or provided under this Act that, at the time and in the light of the circumstances under which the statement is made, contains a misrepresentation;

subject to subsection (2), makes a statement in a record filed, submitted, provided or delivered under this Act, other than a disclosure statement, that, at the time and in the light of the circumstances under which the statement is made, contains a false or misleading statement.

did not know that the statement contained a misrepresentation or was false or misleading, and

in the exercise of reasonable diligence, could not have known that the statement contained a misrepresentation or was false or misleading.

in the case of a corporation,

in the case of an individual,

2 years after the date that the facts on which the information is based arose, or

if the superintendent issues a certificate described in subsection (2), 2 years after the date that the facts on which the information is based first came to the knowledge of the superintendent.

is admissible without proof of the signature or official position of the person appearing to have signed the certificate, and

is proof of the certified matters.

the superintendent;

an individual acting on behalf of or under the direction of the Authority or the superintendent.

in the exercise or intended exercise of any power under this Act, or

in the performance or intended performance of any duty under this Act.

exempting from all or part of a provision of Part 2 [Marketing and Holding Deposits] or 2.1 [Assignment Reporting Requirements], with or without conditions,

excluding a person or a class of persons from the definition of "developer" in section 1;

prescribing periods of time for the purpose of section 8 (6) [shared interests in land in B.C.];

respecting criteria to be considered under section 8 (6) (a) (ii);

respecting the execution of disclosure statements;

respecting periods of time for which a developer must retain a written statement under section 15 [providing disclosure statements to purchasers];

defining matters as material facts and specifying whether or not new disclosure statements must be filed in respect of them if section 16 [non-compliant disclosure statements] applies;

prescribing persons who may hold a deposit in trust under this Act;

respecting the release of deposits for the purpose of section 18 (2) (i) [handling deposits];

respecting the time and manner in which notice under section 19 (2) [developer use of deposit] must be given;

prescribing the form of the terms and notice referred to in section 20.3 (1) [requirements respecting assignments];

respecting the information and records that must be collected under section 20.3 (2);

respecting the keeping of assignment agreements for the purposes of section 20.3 (3);

for the purposes of section 20.4 (1) [filing information respecting assignments],

respecting service of a notice of rescission under section 21 [rights of rescission];

prescribing the types and amounts of expenses that can be recovered for the purposes of sections 31 (2) [recovery of enforcement expenses] and 36 (2) [undertakings];

respecting fees and the calculation of fees, including requiring different fees based on the number of development units within a development property, for

respecting the collection and payment of a fee prescribed under paragraph (l) and penalties for non-payment of fees;

respecting the publication of matters as required by this Act;

defining a word or expression used but not defined in this Act;

for any other matter for which regulations are contemplated by this Act.

collect, from each party to the assignment agreement, assignment information and records, and

collect a copy of the assignment agreement and keep it in accordance with section 20.3 (3) (b).

must indicate that no assignment information or records were collected under section 47.2 (1) or (3) (a), and

must be filed in the form and manner required by the administrator and as required by the regulations.

Division 4 [Disclosure Statements] of Part 2 [Marketing and Holding Deposits],

Part 2.1, or

sections 47.2 [transition — duties if assignment of pre-existing purchase agreement] and 47.3 [transition — if no information or records collected].