For personal corporation of broker, agent
 8.1 (1) In this section, “member brokers and agents” means, in respect of a corporation, every broker or agent who is an employee or shareholder of the corporation.  O. Reg. 186/08, s. 1 (1). (2) Expressions used in this section have the same meaning as in the standards of practice prescribed for brokerage licences.  O. Reg. 186/08, s. 1 (1). (3) A corporation is exempted under subsection 6 (7) of the Act from any requirement to have a brokerage licence if all of the following circumstances exist: 1.  Every member broker and agent of the corporation is authorized to deal or trade in mortgages on behalf of a particular brokerage. 2.  The corporation does not carry on the business of dealing or trading in mortgages otherwise than by providing the services of its member brokers and agents to the particular brokerage. 3.  The corporation does not carry on business as a mortgage lender unless it does so solely through the particular brokerage. 4.  The corporation and its member brokers and agents do not represent to the public in any manner, directly or indirectly, that the corporation carries on the business of dealing or trading in mortgages or carries on business as a mortgage lender. 5.  The corporation does not receive, directly or indirectly, revenue for dealing or trading in mortgages from any person or entity other than the particular brokerage. 6.  The member brokers and agents do not receive, directly or indirectly, fees or other remuneration for dealing or trading in mortgages from any person or entity other than the corporation or the particular brokerage. 7.  The corporation does not, on behalf of the particular brokerage, directly or indirectly hold funds or other assets received from borrowers, lenders or investors in connection with dealing or trading in mortgages. 8.  A majority of the corporation’s directors are member brokers and agents. 9.  A majority of the equity of the corporation is legally and beneficially owned, directly or indirectly, by one or more of its member brokers or agents. 10.  There is a written agreement between the particular brokerage and each member broker or agent governing the relationship between the brokerage and the broker or agent. 11.  There is a written agreement between the corporation and the particular brokerage governing the relationship between the brokerage and the corporation and its member brokers and agents. 12.  Under the agreement between the corporation and the particular brokerage, the corporation agrees not to hinder or obstruct the brokerage or its principal broker in the performance of their duties under the Act and not to obstruct or hinder the member brokers and agents in the performance of their duties under the Act. 13.  Under the agreement between the corporation and the particular brokerage, the corporation agrees to provide whatever assistance may be reasonably necessary to enable the brokerage and its principal broker to comply with their duties under the Act and to enable the brokerage and its principal broker to ensure that the member brokers and agents are complying with their duties under the Act. 14.  Under the agreement between the corporation and the particular brokerage, the corporation agrees to provide whatever assistance may be reasonably necessary to enable the brokerage to determine whether the circumstances entitling the corporation to the exemption established by this section exist.  O. Reg. 186/08, s. 1 (1).