Projet de loi no 56
Real Estate Trading Act (amended)
An Act to Amend Chapter 28 of the Acts of 1996, the Real Estate Trading Act
Déposé par :
L'honorable John MacDonell
Minister of Service Nova Scotia and Municipal Relations
|Première lecture|| 5 mai 2011
(en anglais seulement)
|Débats en deuxième lecture|
|Adoption en deuxième lecture||6 mai 2011|
|Comité des modifications des lois|
|Date(s) de réunion||10 mai 2011|
|Rapport à la Chambre||10 mai 2011|
|Comité plénier||12 mai 2011|
|Débats de la troisième lecture|
|Débats de la troisième lecture||12 mai 2011|
|Sanction royale||19 mai 2011|
|Prise d'effet||19 mai 2011|
|2011 Statutes, Chapter 27||Voir (en anglais seulement)|
Note explicative (en anglais seulement)
(a) changes the name of the Nova Scotia Real Estate Association to the Nova Scotia Association of Realtors;
(b) changes the name of the Department; and
(c) updates several definitions to reflect terminology used by the members.
Clause 2 amends the restriction on who may trade in real estate to allow for corporations permitted in accordance with the Act and by-laws to do so and makes consequential amendments required as a result of clause 1.
Clause 3 adds a commercial-sector representative to the Nova Scotia Real Estate Commission and provides for the Chair or acting Chair to vote only in the case of a tie.
Clause 4 enables the Commission to make by-laws
(a) prescribing the process for the appointment of a commercial-sector representative to the Commission;
(b) allowing corporations to trade in real estate;
(c) prescribing the methods of calculation of remuneration payable to a brokerage; and
(d) concerning stale trust funds.
Clause 5 makes a consequential amendment required as a result of clause 1.
Clause 6 provides for the appointment of the Complaints Review Committee referred to in Sections 17 and 20 of the Act.
Clause 7 amends the investigation provisions to specify the authority of the Commission while investigating and clarify that a person who is the subject of an investigation cannot destroy required information.
Clause 8 enables the Commission to apply to the Supreme Court of Nova Scotia to extend the maximum 90-day licence-suspension period and permits the Registrar to suspend the licence of a licensed person who refuses to co-operate with an investigation until such time as the person co-operates.
Clause 9 provides that appeals from Discipline Committee orders are to made to the Nova Scotia Court of Appeal, within a 25-day appeal period and pursuant to the new Civil Procedure Rules.
Clause 10 requires full and written disclosure of any remuneration agreed to be paid to a brokerage and requires that the remuneration be calculated as specified in the by-laws.
Clause 11 makes a consequential amendment required as a result of clause 1.
Clause 12 amends the procedure for dealing with stale trust funds and provides that
(a) stale funds are to be transferred to the Commission and held by the Commission in trust;
(b) where there is a dispute as to entitlement to funds, a brokerage shall follow procedure set out in the by-laws;
(c) the Commission may order a brokerage to transfer to it unclaimed funds held in a trust account for two or more years; and
(d) the Commission shall use funds transferred to it for such public or charitable purpose, including the education of licensed persons, as the Commission specifies.
Clause 13 gives the Commission authority to freeze a trust account or direct funds to be paid into court during an investigation or criminal or civil proceedings.
Clause 14 makes a consequential amendment required as a result of clause 1.
Clause 15 amends the Act to enable the incorporation of the practice of real estate.
Clause 16 makes a consequential amendment required as a result of clause 1.