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S.M. 1986-87, c. 8
An Act to amend The Real Estate Brokers Act
(Assented to September 10, 1986)
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Clause 2(j) of The Real Estate Brokers Act, being chapter R20 of the Continuing Consolidation of the Statutes of Manitoba, is amended by striking out the words "a broker" in the 3rd line of sub-clause (iv) thereof and substituting therefor the words "an agent".
Clause 2(n) of the Act is repealed and the following clause is substituted therefor:
(n) "official" means, as the case may require,
(i) an individual who is the president, vice-president, secretary or treasurer of a broker, or
(ii) an individual who is the managing director, general manager or department manager of a broker responsible, directly or indirectly, for real estate transactions or trades of the broker in Manitoba, or
(iii) an individual who is the manager of any office or branch of a broker in Manitoba, or (iv) an individual acting in a capacity similar to that of any of the foregoing, although not so designated, or
(v) in the case of a partnership, an individual who is a partner therein, or
(vi) in the case of a limited partnership, a general partner therein who is an individual or, where the general partner is not an individual, an individual acting for the general partner in a capacity similar to that of any of the individuals mentioned in sub-clauses (i), (ii) and (iii) whether or not so designated;.
Subsection 5(3) of the Act is amended by adding thereto, at the end thereof, the words "but this subsection does not apply in the case of a change in the membership of the limited partners of a limited partnership".
Section 8 of the Act is amended by adding thereto, immediately after subsection (7) thereof, the following subsections:
The commission may, in its absolute discretion, prescribe the previous experience in real estate transactions that a person or any of a class of persons is required to possess in order to be eligible for registration as a broker or an authorized official.
The registrar may, and when directed by the commission shall, refuse to grant registration or temporary registration or renewal of registration to a broker or an authorized official who fails to satisfy a requirement imposed by the commission under this section.
Subsection 24(2) of the Act is amended
(a) by striking out the word "and" at the end of clause (a) thereof and substituting therefor the word "or";
(b) by adding thereto, at the end of clause (b) thereof, the word "or"; and
(c) by adding thereto, immediately after clause (b) thereof, the following clause:
(c) to the payment of a commission, salary or other remuneration in connection with a trade or transaction in real estate to a broker engaged in brokerage activity under the laws of a jurisdiction outside of Canada, if the broker is not in violation of any applicable law of Manitoba.
Clause 41(1)(d) of the Act is amended by adding thereto, immediately after the words "trust company" in the 1st line thereof, the words "credit union".
Subsection 42(3) of the Act is amended by striking out the words "The Mortgage Brokers and Mortgage Dealers Act" in the 1st and 2nd lines thereof and substituting therefor the words "The Mortgage Dealers Act".
The Act is amended by adding thereto, immediately after section 46 thereof, the following section:
The commission may, by order, subject to such terms and conditions as it may impose, exempt any person from any or all of the provisions of this Act or the regulations, where it is satisfied
(a) that compliance with the provision or provisions would cause undue hardship or would not advance the purposes of this Act; and
(b) that the exemption would not be contrary to the public interest.
This Act, except section 7, comes into force on a day fixed by proclamation.
Section 7 comes into force
(a) on the day that The Mortgage Dealers Act, being chapter 16 of the Statutes of Manitoba 1985-86, comes into force; or
(b) on the day that this Act comes into force under subsection (1);
whichever is the later.