Third

Session, 46th General Assembly

Elizabeth II, 2010

BILL 32

AN ACT TO AMEND THE REAL ESTATE TRADING ACT

Received and Read the First Time ...................................................................................................

Second Reading .................................................................................................................................

Committee ............................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

HARRY HARDING

Minister

of Government Services

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Real Estate Trading Act to remove the

business of real property management from the application of the Act. The Bill would

remove real property management

and the collection of rent for others from the definition of "trade"

or "trading"; and

confirm that the Act does not

apply to real property management.

A BILL

AN ACT TO AMEND THE REAL ESTATE TRADING ACT

Analysis

S.2 Amdt.

Definitions

2. S.4 Amdt.

Exceptions

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

RSNL1990 cR-2

as amended

1. Paragraph 2(

k) of the Real Estate Trading Act is amended by

(

a) adding the word "and" at the end of

subparagraph (ii);

(

b) deleting the comma and the word

"and" at the end of subparagraph (iii) and substituting a period; and

(

c) deleting subparagraph (iv).

Section 4 of the Act is amended by deleting the

word "or" at the end of paragraph (d), and by adding immediately

after that paragraph the following:

(d.1) a person in the business of property

management who arranges a lease or rental agreement; or

Earl G. Tucker, Queen's Printer