Source: http://www.bclaws.ca/civix/document/id/complete/statreg/505_2004_pit
Timestamp: 2019-03-19 01:42:54
Document Index: 567828621

Matched Legal Cases: ['art 3', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 3']

Point in Time - Real Estate Development Marketing Act
B.C. Reg. 505/2004
Section 1 September 8, 2014
Section 2.1 September 8, 2014
Section 2.2 September 8, 2014
Section 2.3 September 8, 2014
Section 3 January 1, 2019
Section 4 January 1, 2019
Section 6 September 8, 2014
Section 9.01 July 15, 2015
Section 9.1 September 8, 2014
Part 3.1 Section 10.1 to 10.8 January 1, 2019
Section 13 January 1, 2019
Section 14 January 1, 2019
Section 17 January 1, 2019
Section 18 January 1, 2019
Section 1 definition of "related person" was added by BC Reg 173/2014, effective September 8, 2014.
Section 1 was renumbered as Section 1 (1) by BC Reg 138/2015, effective July 15, 2015.
Section 1 (2) was added by BC Reg 138/2015, effective July 15, 2015.
Section 2.1 was enacted by BC Reg 173/2014, effective September 8, 2014.
Section 2.1 (part) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
Lease of development property to developer
2.1	A person is exempt from Part 2 [Marketing and Holding Deposits] of the Act in respect of marketing of a development unit in a development property by a developer if all of the following apply:
Section 2.2 was enacted by BC Reg 173/2014, effective September 8, 2014.
Section 2.2 (part) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
Rights of developer to purchase development property
2.2 A person is exempt from Part 2 [Marketing and Holding Deposits] of the Act in respect of marketing of a development unit in a development property by a developer if all of the following apply:
Section 2.3 was enacted by BC Reg 173/2014, effective September 8, 2014.
Section 2.3 (2) (part) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(2) A person is exempt from Part 2 [Marketing and Holding Deposits] of the Act in respect of marketing of a development unit in a development property by a developer if all of the following apply:
Section 3 (1) (part) and (2) (part) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(1) A developer who markets a development unit is exempt from Part 2 [Marketing and Holding Deposits] of the Act in respect of that marketing if the development property in which the development unit is located is
(2) A developer who markets a development unit is exempt from Part 2 of the Act in respect of that marketing if
Section 4 (1) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(1) A developer who markets a development unit is exempt from Part 2 [Marketing and Holding Deposits] of the Act in respect of that marketing if the development unit is marketed only for the purpose of leasing the development unit for a term of 3 years or less.
Section 6 (1) BEFORE amended by BC Reg 173/2014, effective September 8, 2014.
(1) In this section, "municipality" means a municipality incorporated under the Local Government Act or the Vancouver Charter, but does not include a regional district or an improvement district.
Section 6 (2) (b) (i) and (ii) BEFORE amended by BC Reg 117/2018, effective June 15, 2018.
(i) complied with all requirements set out in a bylaw enacted by the municipality under section 938 [subdivision servicing requirements] of the Local Government Act or section 292 [subdivision control] of the Vancouver Charter, as applicable, or
(ii) deposited with the municipality any security required by the municipality under section 940 (2) of the Local Government Act.
Section 9.01 was enacted by BC Reg 138/2015, effective July 15, 2015.
Section 9.1 was enacted by BC Reg 173/2014, effective September 8, 2014.
Part 3.1 and sections 10.1 to 10.8 were enacted by BC Reg 230/2018, effective January 1, 2019.
Section 13 (1) (a) to (d) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(a) for a development property containing fewer than 10 development units, $300;
(b) for a development property containing at least 10 but fewer than 50 development units, $600;
(c) for a development property containing at least 50 but fewer than 100 development units, $1 200;
(d) for a development property containing 100 or more development units, $1 800.
Section 13 (2) (a) to (d) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
Section 13 (4) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(4) A developer who files an amendment to a disclosure statement must pay, at the time of filing, a fee of $200.
Section 14 (1) and (3) BEFORE amended by BC Reg 230/2018, effective January 1, 2019.
(1) A person who requests a copy of an order under section 33 (b) [publication of orders] of the Act must pay, at the time of making the request, a fee of $0.50 for each copied page.
(3) A person who requests a copy of a file described in subsection (2), or a copy of any other information held by the superintendent, must pay, at the time of making the request, a fee of $0.50 for each copied page.
Section 17 BEFORE repealed by BC Reg 230/2018, effective January 1, 2019.
Deposits received under prior contract
17 (1) A developer who receives a deposit from a purchaser in relation to a development unit is exempt from section 18 (1) [handling deposits] of the Act in respect of that deposit if all of the following conditions apply:
(a) the deposit is received under a purchase agreement entered into before January 1, 2005;
(b) the purchase agreement provides that the developer will hold the deposit in trust;
(c) the developer is authorized under the former Act to hold the deposit.
(2) A developer referred to in subsection (1) must hold the deposit as trustee in a trust account in a savings institution in British Columbia.
(3) A developer referred to in subsection (1) must not release the deposit from trust except as follows:
(a) if the money was paid into the trust account in error;
(b) to the purchaser with the written consent of the purchaser;
(c) in accordance with section 18 (2) (f) to (i) of the Act;
(d) if the period of rescission under section 78 (2) of the former Act has expired and all of the conditions set out in either section 18 (3) (b) to (d) or 4 (b) to (d) of the Act have been met.
(4) Section 19 [developer use of deposit] of the Act applies to a developer referred to in subsection (1) only if the developer complies with the requirements of section 18 (1) of the Act.
[en. B.C. Reg. 69/2005.]
Section 18 was enacted by BC Reg 230/2018, effective January 1, 2019.