This Bill permits the registration of phased-development condominiums.
Be it enacted by the Governor and Assembly as follows:
1 Chapter 85 of the Revised Statutes, 1989, the Condominium Act, is amended by adding immediately after Section 12 the following Section:
12A (1) Notwithstanding Sections 11 and 12, the Registrar shall accept for registration a declaration and description of a phased-development condominium if the declaration and description contain the information prescribed by regulation.
(2) Subsection (1) does not apply in respect of a condominium accepted for registration before this Section comes into force.
2 Subsection 46(1) of Chapter 85 is amended by
(a) adding immediately after clause (b) the following clauses:
(ba) respecting phased-development condominiums;
(bb) prescribing the information to be contained in the declaration and description for a phased-development condominium;
(bc) respecting disclosure of information with respect to a phased-development condominium;
(bd) exempting a phased-development condominium from specified provisions of this Act;
(b) adding immediately after clause (m) the following clause:
(ma) defining any word or expression used but not defined in this Act;
3 This Act comes into force on such day as the Governor in Council orders and declares by proclamation.