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)

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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

(c) adds provisions dealing with the disclosure of information.

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.

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1 Clause 2(n) of Chapter 28 of the Acts of 1996, the Real Estate Trading Act, is repealed and the following clause substituted:

2 Section 5 of Chapter 28 is repealed and the following Sections substituted:

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:

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

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

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:

9 Subsection 32(6) of Chapter 28 is repealed and the following subsections substituted:

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

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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.