Real Estate Trading Act (amended)

BILL NO. 85

(as introduced)

2nd Session, 58th General Assembly
Nova Scotia
50 Elizabeth II, 2001

Government Bill

Real Estate Trading Act
(amended)

The Honourable Angus MacIsaac
Minister of Service Nova Scotia
and Municipal Relations

First Reading: November 8, 2001

(Explanatory Notes)

Second Reading: November 9, 2001

Third Reading: November 22, 2001 (WITH COMMITTEE AMENDMENTS)

Explanatory Notes

Clause 1 amends the definition of "manager" in the Real Estate Trading Act.

Clause 2 provides that the Nova Scotia Real Estate Commission is a body corporate and sets out the powers of the Commission.

Clause 3

(a) clarifies the voting procedure at meetings of the Nova Scotia Real Estate Commission;

(b) adds provisions dealing with the liability of the Commission, the Complaints Review Committee, the Discipline Committee, the Licensing Committee, the Registrar and the Minister for things done pursuant to the Act; and

Clause 4 adds provisions dealing with the confidentiality of information.

Clause 5 enables the Nova Scotia Real Estate Commission to make by-laws setting out standards for agency relationships.

Clause 6 removes a reference in the Act to a manager's licence.

Clause 7 provides that, where a person is applying for any licence other than a brokerage licence, the person shall provide the Registrar with the name and address of the brokerage with which the person will be trading in real estate.

Clause 8 enables the Nova Scotia Real Estate Commission to apply to the Supreme Court for an injunction where a person is doing or attempting to do anything contrary to the Act or the regulations.

Clause 9 clarifies the Nova Scotia Real Estate Commission's role in the disposition of unclaimed brokerage trust funds.

Clause 10 enables the Governor in Council to make regulations respecting the content of annual reports to the Minister.

An Act to Amend Chapter 28
of the Acts of 1996
the Real Estate Trading Act

Be it enacted by the Governor and Assembly as follows:

1 Clause 2(n) of Chapter 28 of the Acts of 1996, the Real Estate Trading Act, is repealed and the following clause substituted:

(n) "manager" means a licensed individual who is designated by a broker as a manager on behalf of that brokerage;

2 Section 5 of Chapter 28 is repealed and the following Sections substituted:

5 There is hereby established a body corporate to be known as the Nova Scotia Real Estate Commission.

5A The Commission has the power to acquire and hold real and personal property and alienate that property at pleasure.

3 (1) Subsection 7(10) of Chapter 28 is amended by adding "voting" immediately preceding "members" in the third line.

(2) Section 7 of Chapter 28 is further amended by adding immediately after subsection (10) the following subsections:

(11) No action for damages lies against the Commission, the Complaints Review Committee, the Discipline Committee, the Licensing Committee, any past or present member of any of those Committees, the Registrar or the Minister for

(a) any act or failure to act or any proceeding initiated or taken in good faith under this Act; or

(b) any decision, order or resolution made or enforced in good faith under this Act.

(12) No action lies against any person for the disclosure of any information or any document or anything contained in a document pursuant to this Act unless the disclosure is made with malice.

4 Chapter 28 is further amended by adding immediately after Section 7 the following Section:

7A Every person involved in the administration of this Act and any member of the Commission or a committee of the Commission shall maintain confidentiality with respect to all information that comes to that person's knowledge regarding licensees and applicants for licences except

(a) in connection with the administration of this Act and the regulations respecting discipline and proceedings arising thereunder;

(b) to one's own legal counsel;

(d) with the written consent of the person to whom the information relates.

5 Subsection 8(1) of Chapter 28 is amended by adding immediately after clause (ab) the following clause:

(aba) prescribing standards for agency relationships;

6 Clause 10(2)(b) of Chapter 28 is repealed.

7 Clause 11(1)(e) of Chapter 28 is amended by striking out "broker's, manager's or salesperson's" in the first and second lines and substituting "licence other than a brokerage".

8 Chapter 28 is further amended by adding immediately after Section 15 the following Section:

15A (1) Where a person whose licence has been suspended pursuant to this Act or the regulations does or attempts to do anything contrary to this Act or the regulations, the Commission may apply to the Supreme Court of Nova Scotia for an injunction to restrain the person from doing or attempting to do anything contrary to this Act or the regulations.

(2) Where a person who is not licensed pursuant to this Act does or attempts to do anything contrary to this Act or the regulations, the Commission may apply to the Supreme Court of Nova Scotia for an injunction to restrain that person from doing or attempting to do anything contrary to this Act or the regulations.

9 Subsection 32(6) of Chapter 28 is repealed and the following subsections substituted:

(6) On an application pursuant to subsection (5), the court may order that the funds be paid to the Commission to be used for such public or charitable purpose, including the education of licensed persons, as the Commission specifies in its application.

(7) Any person may recover trust funds that have been transferred to the Commission pursuant to this Section by application to the Commission within six years after the funds were deposited to the brokerage trust account.

(8) An application pursuant to subsection (7) shall be made in accordance with the by-laws.

(9) This Section applies to funds paid in trust before or after the coming into force of this Section.

10 Subsection 44(1) of Chapter 28 is amended by adding immediately after clause (d) the following clause:

(da) respecting the content of annual reports to the Minister;

This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2001 Crown in right of Nova Scotia. Created November 23, 2001. Send comments to legc.office@gov.ns.ca.

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