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Volume 66, No. 2

7/2023

The British Columbia Gazette,

Part II

January 31, 2023

B.C. Reg. 7/2023 , deposited January 24, 2023, under the STRATA PROPERTY ACT [section 292] and MUNICIPAL AFFAIRS AND HOUSING STATUTES AMENDMENT ACT (No. 2), 2020 [section 17]. Order in Council 32/2023, approved and ordered January 24, 2023.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that

(

a) section 5 of the Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020 , S.B.C. 2020, c. 16, is brought into force,

(

b) effective April 1, 2023,

(

i) section 3 of the Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020 , is brought into force, and

(ii) the Strata Property Regulation, B.C. Reg. 43/2000, is amended as set out in the attached

Schedule 1, and

(

c) effective November 1, 2023,

(

i) sections 1 and 2 of the Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020 , are brought into force, and

(ii) the Strata Property Regulation, B.C. Reg. 43/2000, is amended as set out in the attached

Schedule 2.

— R. KAHLON, Minister of Housing ; M. DEAN, Presiding Member of the Executive Council .

Schedule 1

1 Form B of the Strata Property Regulation, B.C. Reg. 43/2000, is amended by adding the following:

(

o) a

summary of the strata corporation’s insurance coverage

[Provide a

summary of the insurance coverage on a separate sheet or sheets.]

Schedule 2

1 The Strata Property Regulation, B.C. Reg. 43/2000, is amended by adding the following

section to

Part 3:

Contributions on establishment of contingency reserve fund

3.01

(1) For the purposes of

section 12 (2) and (3) (

a) and

section 13 (2) (

b) of the Act, the prescribed percentage is 10%.

(2) For the purposes of

section 12 (3) (

b) of the Act, the prescribed percentage is 50%.

Section 3.4 is repealed and the following substituted:

Contingency reserve fund contribution in first annual budget

3.4 For the purposes of

section 93 of the Act, the amount of the annual contribution to the contingency reserve fund for the fiscal year following the first annual general meeting must be at least 10% of the total amount budgeted for the contribution to the operating fund for the 12-month period covered by that budget.

Section 6.1 is repealed and the following substituted:

Contributions to contingency reserve fund

6.1

(1) For the purposes of

section 93 of the Act, the amount of the annual contribution to the contingency reserve fund for a fiscal year, other than the fiscal year following the first annual general meeting, must be determined after consideration of the most recent depreciation report, if any, obtained under

section 94 of the Act.

(2) The amount of the annual contribution must be at least 10% of the total amount budgeted for the contribution to the operating fund for the current fiscal year.

Section 6.13 is repealed.

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