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Volume

45, No. 3

B.C. Reg. 26/2002

The

British Columbia Gazette,

Part II

February 26, 2002

B.C. Reg. 26/2002, deposited February 20, 2002,

pursuant to the REAL ESTATE ACT [section 80]. Regulation of the

Superintendent of Real Estate, dated February 18, 2002.

Pursuant to

section 80 of the Real Estate Act , the

Superintendent of Real Estate orders that the attached regulation is made. — W.

A. CLARK, Superintendent of Real Estate.

INDIVIDUAL EXEMPTION REGULATION No. 128

Definitions

1 In this regulation:

"exempted land" means the strata lots

located on the ground floor of the building on the subdivided land, together

with the proportional interests of those strata lots in the common property of

the strata corporation;

"remainder" means development land that

is not exempted land;

"subdivided land" means the land

described as

PID 025-181-963

Lot A DL5957 KDYD

Plan KAP 70171

Exemption

2 An offer for sale or lease, the sale or lease

and any assistance in the selling or leasing of the exempted land by or on

behalf of Efficient Staff Housing Ltd., is exempt from

Part 2 of the Real

Estate Act on condition that

(

a) the exempted land will only be sold or offered for

sale, or leased or offered for lease, for commercial purposes,

(

b) the exempted land is used only for commercial

purposes,

(

c) Efficient Staff Housing Ltd. will notify all

purchasers or lessees at the time of an offer for sale or lease that the

offering is exempt from

Part 2 of the Real Estate Act and that they will

not receive a prospectus or a disclosure statement under the Real Estate Act

and will not have the benefit of any rights or protections afforded by

Part 2 of

the Act, and

(

d) no part of the remainder is sold or offered for

sale, or leased or offered for lease, in any manner that would require

compliance with

Part 2 of the Real Estate Act .

Copyright © 2002: Queen's Printer, Victoria, British Columbia, Canada