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Volume 47, No. 25

B.C. Reg. 518/2004

The British Columbia Gazette,

Part II

December 14, 2004

B.C. Reg. 518/2004, deposited December 3, 2004, pursuant

to the BONDING ACT [Section 11], BUSINESS PRACTICES AND

CONSUMER PROTECTION ACT [Section 194], CREDIT UNION INCORPORATION ACT

[Section 108], EMPLOYMENT AND ASSISTANCE ACT [Section 35],

EMPLOYMENT AND ASSISTANCE FOR PERSONS WITH DISABILITIES ACT [Section 26],

EMPLOYMENT STANDARDS ACT [Section 127], FINANCIAL INSTITUTIONS ACT

[Section 289], REAL ESTATE SERVICES ACT [Section 137],

MOTOR DEALER ACT [Section 38] and the PROPERTY TRANSFER

TAX ACT [Section 37]. Order in Council 1167/2004, approved and

ordered December 2, 2004.

On the recommendation of the undersigned, the Lieutenant Governor,

by and with the advice and consent of the Executive Council, orders that, effective

January 1, 2005, the following regulations are amended in accordance

with the attached Schedule:

(

a) Bonding Regulations, B.C. Reg. 11/68;

(

b) Consumer Contracts Regulation, B.C. Reg. 272/2004;

(

c) Debt Collection Industry Regulation, B.C. Reg. 295/2004;

(

d) Credit Union Disclosure Statement Exemptions Regulation,

B.C. Reg. 309/90;

(

e) Employment and Assistance Regulation, B.C. Reg. 263/2002;

(

f) Employment and Assistance for Persons with Disabilities

Regulation, B.C. Reg. 265/2002;

(

g) Employment Standards Regulation, B.C. Reg. 396/95;

(

h) Insurance Licensing Regulation, B.C. Reg. 329/90;

(

i) Mortgage Brokers Act Regulations, B.C. Reg. 100/73;

(

j) Motor Dealer Act Regulation, B.C. Reg. 447/78;

(

k) Property Transfer Tax Regulation, B.C. Reg. 74/88.

— G. COLLINS, Minister of Finance ; S. BOND, Presiding Member

of the Executive Council .

Schedule

BONDING REGULATION

1 Division 2 of the Bonding Regulations, B.C. Reg. 11/68, is repealed.

CONSUMER CONTRACTS REGULATION

Section 5 (4) (

a) of the Consumer Contracts Regulation, B.C. Reg. 272/2004, is repealed and the following substituted:

(

a) direct sellers who are persons licensed under the

Real Estate Services Act ; .

DEBT COLLECTION INDUSTRY REGULATION

Section 3 (

g) of the Debt Collection Industry Regulation, B.C. Reg. 295/2004, is repealed and the following substituted:

(

g) brokerages licensed under the Real Estate Services

Act , their related licensees within the meaning of that Act and their employees,

in respect of collections incidental to the business of the applicable brokerage; .

CREDIT UNION DISCLOSURE STATEMENT EXEMPTIONS REGULATION

Section 3 (

c) of the Credit Union Disclosure Statement Exemptions Regulation, B.C. Reg. 309/90, is repealed and the following substituted:

(

c) the security instrument is in respect of the sale

or lease of a development unit, within the meaning of the Real Estate Development

Marketing Act , for which a disclosure statement has been filed under

that Act in relation to the development property in which the development unit

is located.

EMPLOYMENT AND ASSISTANCE REGULATION

Section 1 (1) of the Employment and Assistance Regulation, B.C. Reg. 263/2002,

is amended by repealing paragraph (

b) of the definition of "unearned

income" and substituting the following:

(

b) cooperative associations as defined in the Real

Estate Development Marketing Act ; .

Section 58 (1) is repealed and the following substituted:

(1) In this section:

"cooperative association" means a cooperative association

as defined in the Real Estate Development Marketing Act ;

"security deposit" means a security deposit as

defined in the Residential Tenancy Act , or an amount required by a cooperative

association to be paid by a recipient to the cooperative association for the

same or a similar purpose as a security deposit under the Residential Tenancy Act .

EMPLOYMENT AND ASSISTANCE FOR PERSONS WITH DISABILITIES REGULATION

Section 1 (1) of the Employment and Assistance for Persons with Disabilities

Regulation, B.C. Reg. 265/2002, is amended by repealing paragraph (

b) of the definition of "unearned income" and substituting the following:

(

b) cooperative associations as defined in the Real

Estate Development Marketing Act ; .

Section 56 (1) is repealed and the following substituted:

(1) In this section:

"cooperative association" means a cooperative association

as defined in the Real Estate Development Marketing Act ;

"security deposit" means a security deposit as

defined in the Residential Tenancy Act , or an amount required by a cooperative

association to be paid by a recipient to the cooperative association for the

same or a similar purpose as a security deposit under the Residential Tenancy Act .

EMPLOYMENT STANDARDS REGULATION

Section 31 (

m) of the Employment Standards Regulation, B.C. Reg. 396/95, is repealed and the following substituted:

(

m) a person licensed under the Real Estate Services Act , .

INSURANCE LICENSING REGULATION

Section 19 of the Insurance Licensing Regulation, B.C. Reg. 329/90, is amended

by striking out " Real Estate Act " wherever it appears and substituting

" Real Estate Services Act ".

MORTGAGE BROKERS ACT REGULATIONS

Section 19 of the Mortgage Brokers Act Regulations, B.C. Reg. 100/73, is repealed and the following substituted:

Exemption for persons licensed under the Real Estate Services Act

19 A person licensed under the Real Estate

Services Act is exempt from the registration provisions of the Mortgage

Brokers Act if the person would otherwise be required to be registered

only as a result of the person's activity in facilitating the sale of a vendor

take-back mortgage if that activity is ancillary to the person's role in the

transaction that gave rise to the vendor take-back mortgage.

12 Form 1 is amended by repealing

section 14 (

c) and substituting the following:

(

c) The Real Estate Services Act or any law respecting

the registration or licensing of persons providing real estate services within

the meaning of that Act; .

13 Form 2 is amended by repealing

section 5 (

c) and substituting the following:

(

c) The Real Estate Services Act or any law respecting

the registration or licensing of persons providing real estate services within

the meaning of that Act; .

MOTOR DEALER ACT REGULATION

Section 14 (

o) of the Motor Dealer Act Regulation, B.C. Reg. 447/78, is repealed and the following substituted:

(

o) a person licensed under the Real Estate Services

Act , in respect of the sale or exchange of a manufactured home if the transaction

includes, or is accompanied by, a transfer of an interest in land on which the

manufactured home is situated.

PROPERTY TRANSFER TAX REGULATION

Section 15 of the Property Transfer Tax Regulation, B.C. Reg. 74/88, is

amended by striking out "a time share plan under the Real Estate Act ,"

and substituting "a time share plan as defined in the Real Estate Development

Marketing Act ,".

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