Second

Session, 50th General Assembly

Charles III, 2022

BILL 14

AN ACT TO AMEND THE

REAL ESTATE TRADING ACT, 2019

Received

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

Second

Reading ............................................................................................

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

Third

Reading ...............................................................................................

Royal

Assent .................................................................................................

HONOURABLE SARAH

STOODLEY

Minister of Digital

Government and Service Newfoundland and Labrador

Ordered to be printed by

the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the Real Estate Trading Act, 2019 to

clarify the term of a licence;

remove the requirement for a

licensee to provide a bond to the Crown;

allow an applicant for a

licence to submit a certified criminal records check from organizations

approved by the minister;

require an inspector to prepare

a report when directed by the superintendent; and

incorporate gender-neutral

language.

A BILL

AN ACT TO AMEND THE REAL ESTATE TRADING

ACT, 2019

Analysis

S.3 Amdt.

Non-application of Act

S.4 Amdt.

Superintendent and deputy superintendent

S.5 Amdt.

Powers and duties of superintendent

S.6 Amdt.

Types of licences

S.7 Amdt.

Application for licence

S.8 Amdt.

Designated representative

S.9 Amdt.

Personal real estate corporation licence

S.10 Amdt.

Personal real estate corporation

S.16 Amdt.

Licence required

S.19 Amdt.

Disclosure re: purchase of real estate for own purpose

S.20 Amdt.

Referral

S.23 Amdt.

Trade of business

S.24 Amdt.

Bond

S.27 Amdt.

Unclaimed trust money

S.31 Amdt.

Promises to resell prohibited

S.34 Amdt.

Carrying on business as an individual

S.35 Amdt.

Administrative penalty

S.37 Amdt.

Inspectors

S.40 Amdt.

Contravention of Act suspected

S.41.1 Added

Report by inspector

S.42 Amdt.

Protection from liability

S.47 Amdt.

Regulations

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL2019 cR-2.1

(1) Paragraph 3(

g) of the Real Estate Trading Act, 2019 is amended by deleting the words

"his or her" and substituting the words "the member's".

(2) Paragraph 3(

h) of the Act is amended by

(

a) deleting the words "him or her" and

substituting the words "the person"; and

(

b) deleting the words "he or she" and

substituting the words "the person".

(3) Paragraph 3(

i) of the Act is amended by

(

a) deleting the words "him or her" and

substituting the words "the person"; and

(

b) deleting the words "he or she" and

substituting the words "the person".

2. Paragraph 4(2)(

b) of the Act is amended by

deleting the words "his or her" and substituting the words "the

superintendent's".

3. Subsection 5(2) of the Act is amended by

deleting the words "his or her" and substituting the words "the

superintendent's".

4. (1) Paragraph 6(1)(

c) of the Act is amended by

deleting the words "his or her" and substituting the words "the

holder's ".

(2) Subsection 6(5) of the Act is amended by

deleting the words "his or her" wherever they appear and substituting

the word "the".

(3) Section 6 of the Act is amended by adding

immediately after subsection (7) the following:

(8) A licence remains in

effect until it is suspended or cancelled under this Act.

5. (1) Paragraph 7(1)(

c) of the Act is repealed

and the following substituted:

(

c) a

certified criminal records check satisfactory to the superintendent from the

Royal Newfoundland Constabulary, the Royal Canadian Mounted Police or another

organization approved by the minister;

(2) Paragraph 7(1)(

d) of the Act is repealed.

(3) Subsection 7(2) of the Act is repealed and the

following substituted:

(2) Where the applicant

(

a) a partnership, the

applicant shall provide a

certified criminal records check satisfactory to the superintendent from the

Royal Newfoundland Constabulary, the Royal Canadian Mounted Police or another

organization approved by the minister for each

partner in the partnership; or

(

b) a corporation, the

applicant shall provide a

certified criminal records check satisfactory to the superintendent from the

Royal Newfoundland Constabulary, the Royal Canadian Mounted Police or another

organization approved by the minister for the

designated representative.

6. Subsection 8(6) of the Act is amended by

deleting the words "his or her".

7. Paragraph 9(1)(

g) of the Act is repealed.

8. Paragraph 10(3)(

b) of the Act is amended by deleting

the words "his or her" and substituting the words "the

person's".

Section 16 of the Act is amended by

(

a) deleting the words "hold himself or

herself out as" wherever they appear and substituting the words

"represent to be"; and

(

b) deleting the words "he or she"

wherever they appear and substituting the words "the person".

10. Subsection 19(1) of the Act is amended by

(

a) deleting the words "himself,

herself" wherever they appear and substituting the words "the broker

or salesperson";

(

b) deleting the words "he or she"

wherever they appear and substituting the words "the broker or

salesperson"; and

(

c) deleting the words "his or her"

wherever they appear and substituting the words "the broker's or

salesperson's".

11. Subsection 20(1) of the Act is amended by

deleting the words "he or she" wherever they appear and substituting

the words "the licensee".

12. (1) Clause 23(3)(a)(iv)(

A) of the Act is

amended by deleting the words "he or she" and substituting the words

"the person selling the business".

(2) Subparagraph 23(3)(b)(

i) of the Act is amended

by deleting the words "he or she" and substituting the words

"the person acquiring the business".

13. (1) Subsections 24(1) and (2) of the Act are

repealed and the following substituted:

Bond

(1) A bond given under the former Act continues

in force for a period of 2 years after the licence to which it relates ends or

is cancelled.

(2) A

bond given under the former Act shall be forfeited and the amount of the bond

shall be recoverable from the person bound by it as a debt due the Crown, where

(

a) a

conviction of an offence under this Act or of an offence involving fraud,

theft, or conspiracy to commit an offence involving fraud or theft under the

Criminal Code has been made by a court;

(

b) a

civil judgment arising out of a trade in real estate has been made; or

(

c) a

winding-up or receiving order has been made under the Bankruptcy Act

(Canada) or the Winding Up Act (Canada),

aga inst

the person in respect of whose conduct the bond was conditioned and that

conviction, judgment or order has become final.

(2) Paragraph 24(4)(

b) of the Act is amended by

deleting the words "his or her" and substituting the words "the

person's".

14. Subsection 27(3) of the Act is amended by

(

a) deleting the words "he or she" and

substituting the words "the person"; and

(

b) deleting the words "him or her" and

substituting the words "the person".

15. (1) Subsection 31(1) of the Act is amended by

(

a) deleting the words "he, she" and

substituting the words "the broker or salesperson"; and

(

b) deleting the words "him or her" and

substituting the words "the broker or salesperson".

(2) Subsection 31(2) of the Act is amended by

(

a) deleting the words "he or she" and

substituting the words "the broker or salesperson"; and

(

b) deleting the words "him or her" and

substituting the words "the broker or salesperson".

16. (1) Paragraph 34(1)(

a) of the Act is amended by

deleting the words "his or her" and substituting the words "the

individual's".

(2) Paragraph 34(1)(

b) of the Act is amended by

deleting the words "his or her" and substituting the words "the

broker's".

(3) Subsection 34(2) of the Act is amended by

deleting the words "his or her" and substituting the word

"the".

17. Subsection 35(1) of the Act is amended by

deleting the words "he or she" and substituting the words "the

person".

18. Subsection 37(3) of the Act is amended by

deleting the words "he or she" and substituting the words "the

inspector".

19. Subsection 40(3) of the Act is amended by

deleting the words "his or her" and substituting the words "the

inspector's".

20. The Act is amended by adding immediately after

section 41 the following:

Report by

inspector

41.1 When

directed by the superintendent, an inspector shall prepare a report and provide

a copy to the superintendent.

Section 42 of the Act is amended by deleting

the words "him or her" and substituting the words "the

superintendent, deputy superintendent, inspector or person".

22. Paragraph 47(

e) of the Act is repealed.

King's Printer