Disclosures by licensees
 5. (1) Before entering into a contract for condominium management services with a client, a licensee shall disclose in writing to the client, (a) a description of the condominium management services that the licensee reasonably believes may be appropriate to meet the needs of the client, based on the description of those needs that the client gives to the licensee; (b) a description of the services and associated costs that the licensee would provide under the contract; (c) a statement whether any services, discounts or other benefits provided by the licensee to the client are contingent on the client continuing to purchase one or more services from the licensee or from an interested person in respect of a licensee; (d) a statement whether any of the services that the licensee would provide under the contract will be provided in whole or in part by a person other than the licensee or could reasonably be expected to be so provided and, if applicable, the name of the person and a description of the service to be provided by the person; (e) if applicable, any material interest that the licensee or an interested person in respect of the licensee has in another business that is offering or could reasonably be expected to offer services to the client; and (f) if applicable, any direct or indirect financial benefit that the licensee or an interested person in respect of the licensee may receive from another person in connection with providing condominium management services to the client; (2) For the purposes of subsection (1), a person shall be deemed to be an interested person in respect of another person if the person is associated with the other person or if, in the opinion of the registrar, (a) the person has or may have a beneficial interest in the other person’s activities; (b) the person exercises or may exercise control either directly or indirectly over the other person; or (c) the person has provided or may have provided financing either directly or indirectly to the other person’s activities. (3) Before entering into a contract for condominium management services with a client, a licensee shall disclose in writing to the client and any other affected client of the licensee that the following circumstances exist, if they exist: 1. The client and the other client are parties to the same outstanding litigation. 2. The client and the other client share in or have agreed to share in the provision, use, maintenance, repair, insurance, operation or administration of the same land, same part of a property, same assets of a condominium corporation or same facilities or services. (4) In subsection (3), “property” has the same meaning as in subsection 1 (1) of the Condominium Act, 1998. (5) If the contract for condominium management services that a licensee has entered into with a client does not prohibit the licensee, during the course of providing the services, from entering into another contract with another person to provide any of the services, then before entering into the other contract, the licensee shall disclose to the client the name of the person and a description of the services to be provided by the person, except if the licensee has disclosed that name and description to the client under clause (1) (d). (6) If, during the course of providing condominium management services, a licensee becomes aware that any of the matters described in clause (1) (e) or (f) or any of the circumstances described in subsection (3) have arisen, the licensee shall disclose the occurrence of the event to the client in writing as soon as reasonably possible after becoming aware of the occurrence of the event.