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S.M. 2015, c. 45
Bill 70, 4th Session, 40th Legislature
The Real Estate Services Act
| 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) | Managing registrant's registration conditions and restrictions apply to brokerage's other registrants | |
| 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) | Suspension of brokerage registration for contravening financial responsibility requirements |
| (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 RESTRICTIONS | ||
| 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 | |
| 42 | (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 | |
| 43 | (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 UNBECOMING A REGISTRANT | ||
| 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 MANITOBA | ||
| 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 | |