3rd Session, 40th Legislature
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Bill 70
Section |
Table of Contents |
| PART 1 | |
| INTRODUCTORY PROVISIONS | |
| 1 | Definitions |
| 2(1) | Registrar and deputy registrar |
| (2) | Deputy registrar to act in place of registrar |
| PART 2 | |
| REGISTRATION | |
| 3 | Registration required |
| 4 | Exemptions |
| 5(1) | Registration categories |
| (2) | Services under registration categories governed by regulations |
| CONNECTIONS BETWEEN BROKERAGES AND OTHER REGISTRANTS | |
| 6(1) | Brokerage must act through registrant engaged by brokerage |
| (2) | Brokerage must have a managing registrant |
| (3) | Prohibition against multiple offices unless registered |
| 7 | Role of managing registrant |
| 8(1) | Registrant must be registered to brokerage and engaged by it |
| (2) | Registrants must not act on behalf of other brokerages |
| (3) | Brokerage's registration conditions and restrictions apply to brokerage's registrants |
| (4) | |
| 9(1) | Supervision of brokerage offices |
| (2) | Registrant may not supervise more than one office |
| (3) | Considerations of registrar |
| THE REGISTRATION PROCESS | |
| 10(1) | Registration of individuals |
| (2) | Registration of corporations and partnerships |
| 11 | Applying to become registered or to renew a registration |
| 12 | Bond or security required to be registered as brokerage |
| 13 | Commission may require additional security |
| 14 | Bond or security must be maintained throughout registration |
| 15(1) | Granting registration or renewal of registration |
| (2) | Evidence of registration |
| (3) | Duration of registration |
| (4) | Registrar to maintain registration records |
| (5) | Registration records to be public |
| (6) | Registration records to be online and include particulars of disciplinary action |
| 16(1) | Refusing to grant a registration or renewal |
| (2) | Conditions or restrictions on registration or renewal |
| 17 | Notice to registrar when engagement ends |
| TRANSFER OF REGISTRATION | |
| 18(1) | Application to transfer registration |
| (2) | Processing a transfer application |
| 19(1) | Surrender of registration |
| (2) | Granting or refusing surrender |
| (3) | Registrar may impose conditions on surrender |
| 20 | Review by commission of registration decisions |
| NON-DISCIPLINARY SUSPENSION OF REGISTRATION | |
| 21(1) | |
| (2) | End suspension when compliance resumes |
| 22(1) | Automatic suspension of brokerage — no managing registrant |
| (2) | End of automatic suspension of brokerage |
| 23(1) | Automatic suspension of other registrants in certain circumstances |
| (2) | End of automatic suspension of registrant |
| PART 3 | |
| CONDUCT OF REGISTRANTS | |
| COMPLIANCE WITH ACT AND REGISTRATION CONDITIONS OR | |
| 24(1) | Registrant must comply with Act and regulations |
| (2) | Compliance with registration conditions and restrictions |
| SERVICE AGREEMENTS | |
| 25(1) | Service agreements |
| (2) | Registrant must not provide services without service agreement |
| (3) | Content and formalities of service agreement |
| (4) | Amendments or additions must be in writing |
| 26(1) | Copy of service agreement to be given to person |
| (2) | Copy of service agreement to be given to brokerage |
| (3) | Application to amendments and additions |
| REGISTRANTS' OBLIGATIONS REGARDING OFFERS AND ACCEPTANCES | |
| 27(1) | Offer to trade in real estate must be in writing |
| (2) | Counter-offer must be in writing |
| (3) | Offer must be completed before being signed |
| (4) | Use of prescribed form |
| (5) | Exception |
| 28 | Prompt delivery of offers to trade in real estate |
| 29(1) | Acceptance of offer to trade in real estate |
| (2) | Prompt delivery of acceptance |
| REGISTRANT TRADING ON OWN BEHALF | |
| 30(1) | Disclosure when registrant trades in real estate |
| (2) | Copy to disclosure to brokerage |
| 31 | No remuneration when trading with own client |
| 32 | Meaning of "related" |
| DEALINGS WITH CLIENTS OF OTHER BROKERAGES | |
| 33(1) | Prohibition on registrant inducing person to break contract |
| (2) | No remuneration if listed with another brokerage |
| FURNISHING FALSE OR DECEPTIVE INFORMATION OR DOCUMENTS | |
| 34 | Furnishing false or deceptive information |
| ADVERTISING | |
| 35(1) | Advertisement must identify brokerage and any individuals depicted |
| (2) | Advertisement must not name or depict non-registrant |
| 36 | No advertising in relation to specific real estate without owner's consent |
| 37(1) | Prohibition on false or deceptive advertising |
| (2) | Restriction on advertising future school development |
| TRUST ACCOUNTS | |
| 38 | Obligation to maintain trust account |
| 39 | Commission may require information about trust account |
| 40(1) | Interest payable to the commission |
| (2) | Not required to account for interest |
| (3) | Use of interest |
| (4) | Regulations by Lieutenant Governor in Council |
| 41(1) | Agreement re alternate interest arrangements |
| (2) | Brokerage must comply with instructions |
| (1) | Unclaimed trust money may be paid over to commission |
| (2) | Liability for trust money extinguished |
| (3) | Trust property |
| (4) | Payment to claimant |
| (5) | Money held for 10 years without claim |
| (1) | Application to Court of Queen's Bench re claim to trust money |
| (2) | Court may make appropriate order |
| (3) | Effect of order on commission's liability |
| PART 4 | |
| COMPLAINTS, INVESTIGATIONS | |
| AND ACTIONS | |
| INTERPRETATION | |
| 44 | Definitions |
| 45 | Application to former registrants |
| PROFESSIONAL MISCONDUCT BY A REGISTRANT OR CONDUCT | |
| 46(1) | Professional misconduct by registrant |
| (2) | Conduct unbecoming by registrant |
| (3) | Conduct of partnerships and corporations |
| COMPLAINTS | |
| 47(1) | Complaint about registrant's or other person's conduct |
| (2) | How to complain |
| (3) | Information to be provided to the complainant |
| (4) | Actions by registrar |
| INVESTIGATIONS | |
| 48(1) | Investigations |
| (2) | When an investigation may be conducted |
| (3) | Registrar has powers of investigator |
| (4) | Request for information |
| (5) | Duty to comply with request |
| (6) | Right of entry |
| (7) | Identification to be shown on request |
| (8) | Entry into dwelling only with consent or warrant |
| 49(1) | Assistance to investigator |
| (2) | Investigator may make copies |
| (3) | Investigator may remove records to make copies |
| (4) | Electronic records |
| 50 | Obstructing or interfering with investigator |
| 51 | Application of certain provisions of Securities Act |
| 52 | Copies as evidence |
| 53(1) | Warrant to enter for purposes of investigation |
| (2) | Application without notice |
| 54(1) | Request to commission for investigation order |
| (2) | Application of section 24 of Securities Act |
| DISCIPLINARY ACTIONS BY REGISTRAR | |
| 55(1) | Disciplinary actions by registrar |
| (2) | Grounds for disciplinary action |
| (3) | When disciplinary action is effective |
| 56(1) | Emergency suspension |
| (2) | Notification of suspension |
| (3) | Duration of suspension |
| 57(1) | Review by the commission of registrar's decisions |
| (2) | Reference by registrar to commission |
| DISCIPLINARY HEARINGS BY THE COMMISSION | |
| 58(1) | Initiating a disciplinary hearing |
| (2) | Conduct of disciplinary hearing |
| 59(1) | Orders that may be made against a registrant |
| (2) | Orders respecting unregistered persons carrying on an activity requiring registration |
| (3) | Regulations by minister |
| 60(1) | Costs of the investigation |
| (2) | Failure to pay penalties and costs by time ordered |
| (3) | Filing of order |
| ORDERS TO FREEZE FUNDS AND OTHER ASSETS | |
| 61(1) | Application of section |
| (2) | Orders without notice |
| (3) | Orders to third party |
| (4) | Order to refrain from withdrawals |
| (5) | Trust order against designated registrant |
| (6) | Effect |
| (7) | Release of assets |
| (8) | Filing notice in the land titles office |
| (9) | Effect of notice in land titles office |
| 62(1) | Application to court re order coverage |
| (2) | Application to court re disposition |
| (3) | Application by commission re direction or disposition |
| (4) | Court may make appropriate order |
| (5) | Application by registrant to cancel order |
| (6) | Cancellation by court |
| (7) | Application by affected person to discharge filing |
| (8) | Discharge by court |
| APPOINTMENT OF RECEIVER, RECEIVER AND MANAGER, OR TRUSTEE | |
| 63(1) | Commission may apply to court for appointment |
| (2) | Order by court |
| (3) | Appointment period |
| (4) | Continuation |
| (5) | Powers of appointee |
| (6) | Effect of appointment |
| (7) | Orders relating to fees, expenses and costs |
| APPLICATION FOR INJUNCTION | |
| 64(1) | Application for injunction |
| (2) | Court may grant injunction |
| (3) | Court may grant interim injunction |
| PART 5 | |
| REAL ESTATE REIMBURSEMENT FUND | |
| 65(1) | Establishment or continuance of reimbursement fund |
| (2) | Payment out of fund — misconduct |
| (3) | Payment out of fund — bankruptcy |
| (4) | Compliance with order |
| (5) | Manitoba Real Estate Association is subrogated |
| (6) | Amounts recovered to be credited to fund |
| PART 6 | |
| REGULATION OF TRADING IN SUBDIVISION LOTS LOCATED OUTSIDE | |
| 66 | Definitions |
| 67(1) | Prospectus required for subdivision outside Manitoba |
| (2) | Certain representations prohibited |
| (3) | Right of rescission |
| (4) | Other rights preserved |
| 68(1) | Prospectus to be delivered |
| (2) | Acknowledgment to be retained |
| (3) | When purchaser entitled to rescission |
| (4) | Onus of proof |
| (5) | Other rights preserved |
| 69(1) | Disclosure required in prospectus |
| (2) | By whom prospectus to be filed |
| (3) | Material in support of prospectus |
| (4) | Further requirements |
| (5) | Service of notices at designated address for service |
| (6) | Non-resident owner |
| (7) | Revocation of power of attorney |
| (8) | Attorney must be Manitoba resident |
| 70 | Conditions precedent to grant of certificate |
| 71(1) | Inquiries in respect of prospectus |
| (2) | Costs |
| 72(1) | Issuing certificate of acceptance |
| (2) | Refusing to issue certificate of acceptance |
| 73 | Time for appeal by non-residents |
| 74(1) | Change in circumstances |
| (2) | New prospectus annually |
| (3) | Failure to file new prospectus |
| (4) | Application of sections 67 to 72 |
| 75(1) | Stop orders |
| (2) | Emergency stop order |
| (3) | Notice of emergency order |
| (4) | No appeal from emergency order |
| (5) | Stop order for failure of bond |
| (6) | No appeal from stop order re bond |
| 76(1) | Approval of advertisements |
| (2) | Changes of circumstances |
| 77 | Exemption of certain trading |
| 78 | Power of commission to exempt |
| PART 7 | |
| GENERAL PROVISIONS | |
| REGISTRANT'S BUSINESS RECORDS | |
| 79(1) | Requirement to keep business records |
| (2) | Registrar may examine records |
| (3) | Records to be made available for examination. |
| (4) | Fees |
| (5) | Investigation powers apply to examinations |
| COMMISSION DECISIONS AND ORDERS MUST BE PUBLIC | |
| 80(1) | Decision and orders available to the public |
| (2) | Identity of certain persons may be withheld |
| APPEALS | |
| 81 | Application of section 30 of Securities Act |
| REMUNERATION IN CONNECTION WITH REAL ESTATE SERVICES | |
| 82(1) | Prohibited remuneration |
| (2) | No recovery of remuneration by unregistered person |
| EXEMPTIONS BY COMMISSION ORDER | |
| 83 | Exemption orders by commission |
| OFFENCES | |
| 84(1) | Offences |
| (2) | Penalty |
| (3) | Corporate officers and directors |
| (4) | Offences by partners |
| REGULATIONS | |
| 85(1) | Regulations by commission |
| (2) | Regulations may be general or particular |
| (3) | Approval of certain regulations |
| CONSEQUENTIAL AMENDMENTS | |
| 86(1) | Consequential amendments, C.C.S.M. c. C200 |
| (2) | |
| (3) | |
| 87(1) | Consequential amendments, C.C.S.M. c. M210 |
| (2) | |
| (3) | |
| 88(1) | Consequential amendment, C.C.S.M. c. S50 |
| (2) | |
| (3) | |
| 89 | Repeal |
| 90 | C.C.S.M. reference |
| 91 | Coming into force |