R.S.M. 1987, c. R20
The Real Estate Brokers Act
Table of Contents
1 | Definitions. | |
PART I
REGISTRATION |
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2 | Registration. | |
3 | Application. | |
(2) | Address for service. | |
(3) | Further information. | |
(4) | Registration of company or partnership. | |
(5) | Qualifications of authorized officials. | |
(6) | Authorized officials required. | |
4 | Bond for broker. | |
(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 | 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 | Issuing certificate of registration. | |
(2) | Refusal of registration for certain reasons. | |
(3) | Refusal of registration. | |
(4) | Notice of refusal. | |
(5) | Inspection of register. | |
9 | Appeal from and reference by registrar. | |
10 | Applicant may re-apply. | |
11 | Suspension and cancellation. | |
(2) | Automatic suspension of salesman's registration. | |
(3) | Recording of suspension. | |
(4) | Effect of suspension on registration. | |
12 | Renewal of registration. | |
(2) | Change in registration. | |
(3) | Reason for termination of appointment of authorized official. | |
13 | Effect of termination of employment on salesman's registration. | |
(2) | Notification of termination to registrar. | |
14 | 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 | 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 | Expiry of registration. | |
(2) | Extension of registration. | |
18 | Fees. | |
PART II
REGULATION OF |
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BROKERS AND SALESMEN | ||
19 | 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 | 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 | Contents of offer to purchase. | |
(2) | Accepted offer to show commission payable. | |
23 | Non-compliance to invalidate offer and acceptance. | |
24 | Employment of unregistered salesman prohibited. | |
(2) | Where subsec. (1) not applicable. | |
25 | Moneys to be turned over to broker. | |
26 | Trust money and trust accounts. | |
(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. | |
27 | Broker to hold deposits as trustee and not as agent. | |
(2) | Exception. | |
(3) | Interest on trust money. | |
28 | Records to be kept by broker for five years. | |
(2) | Books and records to be open for examination by the registrar. | |
29 | Inducement by broker etc., prohibited. | |
(2) | Failure to comply with subsec. (1) not to affect other rights. | |
30 | No commission where another broker holds exclusive listing. | |
(2) | Inducement of breach of contract prohibited. | |
31 | Listing agreements. | |
(2) | Invalidity. | |
32 | Amount of commission. | |
(2) | No commission payable on difference between list and actual sale price. | |
PART III
INVESTIGATION AND ACTION |
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33 | Power to investigate. | |
34 | Costs of an investigation. | |
(2) | Recovery of costs. | |
35 | 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 | Forfeiture of bond. | |
(2) | Forfeiture upon bankruptcy or winding-up proceedings. | |
(3) | Assignment of bond or payment of moneys to creditors. | |
PART IV
OFFENCES AND PENALTIES |
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40 | Registration. | |
(2) | Additional penalty. | |
41 | Exemptions. | |
(2) | Exemption for solicitors. | |
(3) | Exemption for mineral interest brokers. | |
(4) | Conflicts with The Securities Act. | |
42 | 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 Dealers Act. | |
PART V
GENERAL PROVISIONS |
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43 | No action, etc., against persons administering Act. | |
44 | 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 | "Holding out" as being registered. | |
46 | Complaint within two years. | |
47 | Exemptions by commission. | |
48 | Costs. | |
49 | Regulations. | |
PART VI
REGULATION OF TRADING |
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IN SUBDIVISION LOTS | ||
LOCATED OUTSIDE MANITOBA | ||
50 | Definitions. | |
51 | Prospectus required for subdivision outside Manitoba. | |
(2) | Certain representations prohibited. | |
(3) | Right of rescission. | |
(4) | Other rights preserved. | |
52 | Prospectus to be delivered. | |
(2) | Acknowledgment to be retained. | |
(3) | When purchaser entitled to rescission. | |
(4) | Onus of proof. | |
(5) | Other rights preserved. | |
53 | 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 | Inquiries, etc. | |
(2) | Costs. | |
56 | Powers of registrar. | |
57 | Time for appeal by non-residents. | |
58 | Change in circumstances. | |
(2) | New prospectus annually. | |
(3) | Failure to file new prospectus. | |
(4) | Application of sections 50 to 56. | |
59 | Stop orders. | |
(2) | Temporary order. | |
(3) | No appeal from temporary order. | |
60 | Approval of advertisements. | |
(2) | Changes of circumstances. | |
61 | Exemption of certain trading. | |
62 | Power of commission to exempt. |