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Volume 52, No. 5

B.C. Reg. 87/2009

The British Columbia Gazette,

Part II

March 10, 2009

B.C. Reg. 87/2009 , deposited March 6, 2009, pursuant to the REAL ESTATE SERVICES ACT [Sections 56 (1) (a), 70 (1) and 130]. Order in Council 188/2009, approved and ordered March 5, 2009.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Real Estate Services Regulation, B.C. Reg. 506/2004, is amended as follows:

Section 4.7 is amended

(

a) by repealing paragraphs (a), (

i) and (

j) and substituting the following:

(a.6) Rule 4-1 [display and keeping of licences] ;

(

i) Rule 8-2 [trust account and general account records] ;

(

j) Rule 8-3 [pooled trust account records] ; , and

(

b) by adding the following paragraphs:

(

a) Rule 2-17 [mailing address for delivery] ;

(a.1) Rule 2-19 [licensee must reply promptly to council] ;

(a.2) Rule 2-20 [brokerage must give immediate notice respecting solvency] ;

(a.3) Rule 2-21 [licensee must give notice of discipline, bankruptcy or criminal proceedings] ;

(a.4) Rule 2-22 [brokerage must give notice of business changes] ;

(a.5) Rule 3-1 (3) [managing broker responsibilities] , except as it relates to the maintenance of trust accounts;

(j.1) Rule 8-3.1 [preparation of records after termination] ;

(m.1) Rule 8-7.1 [strata management records] ;

(n.1) Rule 8-9.1 [electronic records] ; .

Section 5.2 is amended by striking out " $350 000 " and substituting " $500 000 ".

Section 10.1 is amended in paragraph (

b) of the definition of "affiliated person" by striking out " , as defined in the Family Relations Act , ".

— C. HANSEN, Minister of Finance and Minister Responsible for the Olympics ; S. BOND, Presiding Member of the Executive Council .

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