2nd Session, 43rd Legislature
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Bill 15
THE REAL ESTATE SERVICES AMENDMENT ACT
Bilingual version (PDF) | Explanatory Note |
(Assented to )
HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
C.C.S.M. c. R21 amended
1 The Real Estate Services Act is amended by this Act.
2 Subsection 46(2) is amended, in the part before clause (a), by striking out ", in the judgment of the commission,".
3(1) Subsection 61(1) is amended
(a) in the part before item 1 of the French version, by striking out "circonstances suivantes" and substituting "cas suivants";
(b) in item 1 of the French version, by striking out "appelée la « personne désignée »" and substituting "« inscrit désigné »";
(c) in item 2,
(i) in the English version, by striking out "he or she" and substituting "the registrar", and
(ii) in the French version, by striking out "la personne désignée" and substituting "l'inscrit désigné";
(d) by replacing item 3 with the following:
3. The commission has reason to believe that
(a) the designated registrant, a director or partner of the designated registrant or an officer or employee of the designated registrant has contravened or is about to contravene this Act or a regulation; or
(b) a person who the commission has reason to believe is or was required to be registered under this Act (referred to in this section as the "designated person"), a director or partner of the designated person or an officer or employee of the designated person has contravened or is about to contravene this Act or a regulation.
(e) in items 4 and 5,
(i) by adding "or person" after "designated registrant" wherever it occurs, and
(ii) in the French version, by striking out "ou associés ou contre un de ses dirigeants" and substituting ", associés, dirigeants".
3(2) Subsections 61(2) to (5) are amended by adding "or person" after "designated registrant" wherever it occurs.
4 Subsection 62(5) is amended
(a) in the section heading of the English version, by striking out "by registrant"; and
(b) by adding "or person" after "A registrant".
5(1) Subsection 63(1) of the French version is amended, in the part before clause (a), by striking out "appelée la".
5(2) Subsections 63(5) and (6) of the French version are amended by adding "inscrite ou" before "désignée".
6 The following is added after subsection 84(4):
Time limit for prosecution
84(5) A prosecution under this Act may be commenced within two years after the facts upon which the prosecution is based first come to the knowledge of the commission, but not afterwards.
Coming into force
7 This Act comes into force on the day it receives royal assent.
Explanatory Note In 2022, The Real Estate Brokers Act was replaced with The Real Estate Services Act. Under the former Act, any person could be subject to an order to freeze funds and other assets, and a two-year limitation period for prosecutions applied. The Real Estate Services Act is amended to restore the Manitoba Securities Commission's power to freeze funds and other assets of an unregistered person. A two-year limitation period for prosecutions under the Act is also established. The limitation period begins to run from the day that the commission discovers the event giving rise to the prosecution. An amendment is made to clarify that both the commission and the registrar can make a determination that a registrant engaged in unbecoming conduct. |