IX. Licence Renewals
Under section 22 of RESA, a licence automatically becomes inoperative if the licensee ceases to be engaged as a managing broker, an associate broker or as a representative by the brokerage to which the person is licensed.
Additionally, if a brokerage licence becomes inoperative or is suspended or cancelled, section 23 of RESA provides that the licence of any related licensee becomes inoperative effective as of the time at which the brokerage licence becomes inoperative or is suspended or cancelled.
Under section 2-16 of the Rules, a licensee may voluntarily surrender their licence to the Council, in which case it becomes inoperative unless and until it is reinstated by the Council prior to the end of its term.
A person whose licence becomes inoperative must immediately cease to hold themselves out as a licensee and must surrender the licence to the Council. If the licence is held by the brokerage, the brokerage must immediately surrender the licence to the Council.