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The Real Estate Brokers Act

C.C.S.M. c. R20

The Real Estate Brokers Act

1 Definitions
PART I
REGISTRATION
2 Registration
3 (1) Application
(2) Address for service
(3) Further information
(4) Trades and transactions by authorized official and others on behalf of broker
(5) Qualifications of authorized officials
(6) Authorized officials required
(7) Branch office to be registered
(8) Registration of branch office
(9) Authorized official in charge of one office only
(10) Broker to designate Manitoba representative
4 (1) Broker registration requirements
(2) Additional bonding requirements
(3) Change of partnership
(4) Cancellation of broker's bond
(5) Registrar may refuse renewal
(6) Collateral guarantee to be disclosed by bonding company
(7) Non-application of subsection (1)
5 Application of The Business Names Registration Act
6 Application for change of registration
7 (1) Written examinations
(2) Different examination
(3) Examination where applicant is partnership or company
(4) Discretion of commission as to examination
(5) Conduct of examinations
(6) Filing of examination
(7) Course of instruction
(8) Experience requirement
(9) Refusal of registration
8 (1) Issuing certificate of registration
(2) Refusal of registration for certain reasons
(3) Refusal of registration
(4) Notice of refusal
(5) Inspection of register
9 Review by commission
10 Applicant may re-apply
11 (1) Suspension and cancellation
(2) Automatic suspension of salesman's registration
(3) Recording of suspension
(4) Effect of suspension on registration
12 (1) Renewal of registration
(2) Change in registration
(3) Reason for termination of appointment of authorized official
13 (1) Effect of termination of employment on salesman's registration
(2) Notification of termination to registrar
14 (1) Transfer of salesman to new employer
(2) Refusal of approval by registrar
(3) Reasons for termination of former employment may be required
(4) Former employer not excused from giving notice
15 (1) Dealing by officials and salesmen prohibited
(2) Dealing defined
(3) Permitted trading by officials and salesmen
(4) Prohibition of other trading by officials and salesmen
(5) Report to employer
(6) Officials and salesmen to be paid by employer only
16 Conditional registration
17 (1) Expiry of registration
(2) Extension of registration
18 Repealed
PART II
REGULATION OF BROKERS AND SALESMEN
19 (1) Definition
(2) Purchase by broker, etc., of property listed
(3) Purchase by selling broker, etc., on co-operative listing
(4) Disclosure required
(5) Commission not payable may be recovered
(6) Consequences of non-disclosure
(7) Broker not to submit contravening offer
(8) "Sale" to include "lease"
(9) Disclosure of interest by broker, etc., on sale
(10) Consequences of non-disclosure
(11) Exceptions
(12) Indemnity on rescission
(13) Disclosure by all registrants when purchasing
20 Exclusive listing to be in duplicate, etc.
21 (1) Offer to purchase to be in writing
(2) Acceptance of offer to purchase to be in writing
(3) Use of printed form
(4) Exception
22 (1) Contents of offer to purchase
(2) Accepted offer to show commission payable
23 Non-compliance to invalidate offer and acceptance
24 (1) Employment of unregistered salesman prohibited
(2) Where subsec. (1) not applicable
25 Moneys to be turned over to broker
26 (1) Trust money and trust accounts
(1.1) Interest on trust money
(1.2) Broker as trustee to remit to commission
(1.3) Broker need not account
(1.4) Exemption
(1.5) Broker as trustee
(1.6) Standard of Care
(1.7) Use of interest
(1.8) Consolidated Revenue Fund
(1.9) Existing programs
(2) Inspection of books, etc
(3) Access to books, etc.
(4) Refusal to produce books, etc.
(5) Definition of "bank"
(6) Freezing of trust account if broker loses registration
(7) Effect of freezing
(8) Revocation of freezing
(9) Payment of trust money to commission
(10) Commission may require particulars
(11) Commission may order bank to pay over trust money
(12) Commission to hold money in account
(13) Annual payment to Consolidated Fund
(14) Refund of trust money
27 (1) Broker to hold deposits as trustee and not as agent
(2) Exception
(3) Repealed
28 (1) Records to be kept by broker for five years
(2) Books and records to be open for examination by the registrar
29 (1) Inducement by broker etc., prohibited
(2) Failure to comply with subsec. (1) not to affect other rights
30 (1) No commission where another broker holds exclusive listing
(2) Inducement of breach of contract prohibited
31 (1) Listing agreements
(2) Invalidity
32 (1) Amount of commission
(2) No commission payable on difference between list and actual sale price
PART III
INVESTIGATION AND ACTION
33 Power to investigate
34 (1) Costs of an investigation
(2) Recovery of costs
35 (1) Freezing of funds
(2) Application for directions
(3) Filing of certificate in L.T.O.
(4) Effect of certificate
(5) Setting aside direction or certificate
36 Failure to give information, etc.
37 Acting upon finding fraud
38 Evidence
39 (1) Forfeiture of bond
(2) Forfeiture upon bankruptcy or winding-up proceedings
(3) Assignment of bond or payment of moneys to creditors
39.1 (1) Establishment of Reimbursement Fund
(2) Payment out of fund - fraud or conviction
(3) Payment out of fund - bankruptcy
(4) Association is subrogated
PART IV
OFFENCES AND PENALTIES
40 (1) Registration
(2) Additional penalty
41 (1) Exemptions
(2) Exemption for solicitors
(3) Exemption for mineral interest brokers
(4) Conflicts with The Securities Act
42 (1) False statements made to commission, etc.
(2) False statement defined
(3) General offences
(4) Offences by corporations
(5) Penalties
(6) Application of subsection (5)
(7) Violation of The Mortgage Brokers Act
PART V
GENERAL PROVISIONS
43 No action, etc., against persons administering Act
44 (1) Advertising real estate by unregistered person prohibited
(2) Disclosure by broker
(3) Disclosure by authorized official
(4) Disclosure by salesman
(5) Salesman not to be described as broker
45 Registration not to be advertised
46 Complaint within two years
47 Exemptions by commission
48 Costs
49 Regulations
PART VI
REGULATION OF TRADING IN SUBDIVISION LOTS LOCATED OUTSIDE MANITOBA
50 Definitions
51 (1) Prospectus required for subdivision outside Manitoba
(2) Certain representations prohibited
(3) Right of rescission
(4) Other rights preserved
52 (1) Prospectus to be delivered
(2) Acknowledgment to be retained
(3) When purchaser entitled to rescission
(4) Onus of proof
(5) Other rights preserved
53 (1) Disclosure required in prospectus
(2) By whom prospectus to be filed
(3) Material in support of prospectus
(4) Further requirements
(5) Non-resident owner
54 Conditions precedent to grant of certificate
55 (1) Inquiries, etc.
(2) Costs
56 Powers of registrar
57 Time for appeal by non-residents
58 (1) Change in circumstances
(2) New prospectus annually
(3) Failure to file new prospectus
(4) Application of sections 50 to 56
59 (1) Stop orders
(2) Temporary order
(3) No appeal from temporary order
60 (1) Approval of advertisements
(2) Changes of circumstances
61 Exemption of certain trading
62 Power of commission to exempt