Person conducting studies
 32. (1) Subject to subsection (2), the following classes are prescribed as persons who may conduct a reserve fund study: 1. Members of the Appraisal Institute of Canada holding the designation of Accredited Appraiser Canadian Institute. 2. Persons who hold a certificate of practice within the meaning of the Architects Act. 3. Members of the Ontario Association of Certified Engineering Technicians and Technologists who are registered as certified engineering technologists under the Ontario Association of Certified Engineering Technicians and Technologists Act, 1998. 4. Members of the Real Estate Institute of Canada holding the designation of certified reserve planner. 5. Persons who hold a certificate of authorization within the meaning of the Professional Engineers Act. 6. Graduates of Ryerson University with a Bachelor of Technology (Architectural Science) — Building Science Option or Architecture Option. 7. Members of the Canadian Institute of Quantity Surveyors holding the designation of professional quantity surveyor. 8. Members of the Association of Architectural Technologists of Ontario holding the designation of architectural technologist, architecte-technologue or registered building technologist under the Association of Architectural Technologists of Ontario Act, 1996.  O. Reg. 48/01, s. 32 (1); O. Reg. 383/12, s. 4 (1). (2) A person who conducts a reserve fund study shall not, (a) be a director, officer or property manager of the corporation; (b) directly or indirectly, have an interest in, (i)  a contract or transaction to which a director or officer of the corporation is a party in a capacity other than as a director or officer of the corporation, or (ii) a proposed contract or transaction to which a director or officer of the corporation will be a party in a capacity other than as a director or officer of the corporation; (c) be the spouse or child of a director or officer of the corporation or the child of the spouse of a director or officer of the corporation; (d) be an owner as defined in the Act in relation to the corporation; or (e) be a person who lives on the property managed by the corporation under section 17 of the Act.  O. Reg. 48/01, s. 32 (2); O. Reg. 300/05, s. 1 (1); O. Reg. 180/17, s. 29. (3) In subsection (2), “spouse” means, (a) a spouse as defined in section 1 of the Family Law Act, or (b) either of two persons who live together in a conjugal relationship outside marriage.  O. Reg. 48/01, s. 32 (3); O. Reg. 300/05, s. 1 (2, 3). (4) A person who conducts a reserve fund study shall be insured under a policy of liability insurance that includes, (a) coverage for liability for errors, omissions and negligent acts arising out of conducting or not conducting a reserve fund study, subject to the exclusions, conditions and terms that are consistent with normal insurance industry practice; (b) a policy limit for each single claim of not less than $1 million per occurrence; (c) an aggregate policy limit in the amount of not less than $2 million per year for all claims in the year or an automatic policy reinstatement feature; and (d) a maximum deductible amount of $3,500 per occurrence.  O. Reg. 48/01, s. 32 (4); O. Reg. 383/12, s. 4 (2). (5) A person who conducts a reserve fund study shall ensure that the policy of liability insurance is valid at the time the reserve fund study is completed and is kept valid for a period of at least three years after that time.  O. Reg. 48/01, s. 32 (5). (6) Upon request, the person shall provide to the corporation a certificate of the policy of liability insurance.  O. Reg. 48/01, s. 32 (6).