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18 | Repealed | |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