Definitions

1-1 In these bylaws:

Act means the Real Estate Services Act;

application for a licence has the same meaning as in section 8 of the Act;

council means the real estate council;

executive officer means the executive officer of the council appointed under section 81 of the Act;

managing broker includes, for the purposes of Part 2 [Election of Council Members] of these bylaws, an associate broker;

related brokerage office means, in relation to a licensee, the brokerage head office or branch office that is identified in the licensee’s licence.

Fees for copies of records

1-2 A person who requests a copy of a record referred to in section 47 [discipline orders] , 88 [council records] or 89 [annual report] of the Act must pay to the council, at the time of making the request, a fee of $0.50 per copied page.

Executive officer responsibility

2-1 (1) The executive officer is responsible for the conduct of elections to the council.

(2) Despite any other provision of this Part, the executive officer may change a date or time established by this Part, if satisfied that the change is required to ensure the proper conduct of the election of council members.

Qualifications for council membership

2-2(1) In order to be elected as a council member under section 76 (3) (a) to (i) [district representation members] of the Act,

(a) a licensee must be licensed at the appropriate level, and

(b) the licensee’s related brokerage office must be located in the district that the licensee seeks to represent.

(2) For the purposes of elections under section 76 (3) (h) [joint representation] of the Act, districts 2, 3, 6 and 7 are to be considered one district.

(3) For the purposes of elections under section 76 (3) (i) [joint representation] of the Act, districts 4 and 5 are to be considered one district.

(4) A licensee seeking election as a council member under section 76 (3) (j) [rental property management and strata management representation] of the Act must be licensed to provide rental property management services or strata management services.

Notice of election

2-3 On or before March 15 in each year, the executive officer must deliver to all licensees who are individuals

(a) a notice of the positions on council for which elections are to be held, including notice that any nominations of candidates must be received at the council office not later than the first Monday in April of that year, and

(b) a nomination form.

[09/09/2008 section 2-3 repealed and the above section 2-3 substituted effective 11/01/2008]

Nomination of candidates

2-4 (1) The nomination of a candidate for election as council member must be

(a) in writing on the nomination form provided by the council,

(b) signed by 2 licensees as nominators and by the candidate, and

(c) received at the council office not later than the first Monday in April of the year of the election.

(2) In order to nominate a candidate,

(a) a nominator for a managing broker council member must be an individual who is a managing broker,

(b) a nominator for a representative council member must be an individual who is a representative, and

(c) a nominator for the council member under section 76 (3) (j) [rental property management and strata management representation] must be an individual who is licensed to provide rental property management services or strata management services.

[09/09/2008 subsection (2) repealed and the above subsection (2) substituted effective 11/01/2008]

Election by acclamation

2-5 In the event that the number of candidates nominated does not exceed the number of council members to be elected under the applicable provision of section 76 (3) of the Act, those candidates are to be declared elected under that provision.

Date of election

2-6 The date for the election of council members is the second Wednesday in May of each year.

Entitlement to vote

2-7 (1) A licensee is entitled to vote under section 76 (3) (a) to (i) [district representation members] only

(a) for the district in which the licensee’s related brokerage office is located,

(b) in the case of a managing broker council member, if the licensee is a managing broker,

(c) in the case of a representative council member, if the licensee is a representative, and

(d) if the licensee is an individual.

[09/09/2008 subsection (1) repealed and the above subsection (1) substituted effective 11/01/2008]

(2) As a further restriction to subsection (1) in the case of a managing broker who is licensed in relation to two brokerage offices that are in different districts, the managing broker is entitled to vote only for the election of council members for one of the districts.

 

(3) In addition to the entitlement to vote under subsection (1), an individual who is licensed to provide rental property management services or strata management services is also entitled to vote for the election under section 76 (3) (j) [rental property management and strata management representation] of the Act.

Ballots to be sent to licensees

2-8 (1) After the last day for the receipt of nominations, but not less than 14 days before the date of the election, the executive officer must deliver, to each licensee entitled to vote, a ballot for the applicable positions under section 76 (3) of the Act for which the individual is entitled to vote.

(2) The ballots must be in a form approved by the council and must include, in alphabetical order, the names of all candidates nominated for the applicable positions under section 76 (3) of the Act.

Voting

2-9 (1) In order to vote, a licensee must

(a) mark their ballot with a cross or a tick mark opposite the name of each candidate for whom the licensee wishes to vote, to a maximum of the number of candidates to be elected to the position for which the licensee is entitled to vote, and

(b) return their ballot to the executive officer, in the envelope or envelopes provided for that purpose or otherwise in accordance with the instructions provided with the ballot, so that it is received by the executive officer before the date of the election.

(2) A ballot that is not marked in accordance with subsection (1) (a) must not be counted.

(3) A returned ballot that is not received by the executive officer before the date of the election as required by subsection (1) (b) must not be counted.

(4) The executive officer must keep, secure and unopened until the ballot count, all envelopes containing ballots received by the executive officer before the date of the election.

Scrutineers

2-10 The scrutineers for an election to the council are

(a) the executive officer or a delegate of the executive officer, and

(b) the auditor appointed by the council or a delegate of the auditor.

Ballot count

2-11 (1) On the day of the election, the scrutineers must scrutinize the ballots and count the votes.

(2) The executive officer or the executive officer’s delegate must keep a record of

(a) the number of ballots received,

(b) the number of votes counted for each candidate, and

(c) the number of spoiled ballots.

(3) On the completion of the ballot count, the scrutineers must sign the record.

(4) Any candidate for election, or a person authorized by a candidate in writing, is entitled to be present at the ballot count.

Declaration of election

2-12 (1) For each elected position under section 76 (3) of the Act, the executive officer or the executive officer’s delegate must declare as elected the candidate or, if applicable, the candidates receiving the greatest number of votes.

(2) If an election for a position is undecided by reason of an equality of votes,

(a) the scrutineers must promptly put into a box one paper for each candidate whose election is undecided and having on it the name of that candidate,

(b) one of the scrutineers must draw by chance from the box, in the presence of the other scrutineer, one or more of the papers sufficient to make up the required number of council members, and

(c) the executive officer or the executive officer’s delegate must declare as elected the candidate or, if applicable, the candidates whose names are drawn.

Retention of election materials

2-13 (1) The ballots and, if applicable, the envelopes in which they were returned must be kept by the executive officer for 4 weeks after the date of the election.

(2) Subject to a court order, the executive officer must destroy the ballots and envelopes at the end of the time referred to in subsection (1).

(3) The executive officer must retain the record of the count signed under section 2-11 (3) [ballot count] of these bylaws as part of the records of the council.

Taking office

2-14 Those persons declared to be elected take office as council members on the later of

(a) July 1 in the year of the election, and

(b) the 10th day after the date of the election.

Inadvertent omissions do not invalidate election

2-15 The inadvertent omission to deliver a notice of the nomination of candidates, a nomination form or a ballot to any licensee does not invalidate an election.

Election of Chair

3-1 (1) At the first council meeting after members have taken office under section 2-14 [taking office] of these bylaws, the council must elect one of its members as Chair and one of its members as Vice Chair.

(2) In order to be elected as Chair or Vice Chair, an individual must have held office as a council member for at least one year at some time before their election.

Council meetings

3-2 The council must hold such meetings as it considers necessary to transact the business of the council.

Quorum for council meetings

3-3 The quorum for a meeting of the council is a majority of the number of members set for council.

Electronic meetings

3-4 (1) Council members may participate in, including vote at, a council meeting by means of electronic or other communication facilities if all council members participating in the meeting, whether by such facilities or in person, are able to communicate with each other.

(2) A council member participating in a meeting under this section is to be considered present at the meeting for the purposes of determining quorum.

Council procedures

3-5 (1) Subject to these bylaws and the regulations, decisions of the council are to be decided by majority vote of the council members present at the meeting.

(2) In order to make a bylaw, the council must do this by a vote of not less than 3/4 of the number of members set for the council.

(3) Each member of the council has one vote on any question.

Code of conduct for council members

3-6 (1) Subject to subsection (2), the code of conduct adopted by the council on March 11, 2003 is the code of conduct for the council subject to amendment under subsection (2).

(2) The council may, by a vote of not less than 3/4 of the number of members set for the council, amend the code of conduct under subsection (1).

(3) The members of the council must comply with the code of conduct.

Council committees

3-7 In addition to any council committees established by the council, the Chair and Vice Chair may jointly establish council committees as they consider advisable and may jointly appoint individuals to those committees as provided in section 84 (2) (d) of the Act.

Application forms

4-1 (1) An application for a new licence, licence renewal or licence reinstatement

(a) must be in a form approved by the council, and

(b) indicate the nature of the application.

(2) An application for a licence amendment must be in a form acceptable to the council.

Council may require supporting documentation

4-2 Council may require supporting documentation to verify any information provided or statement made in an application for a licence.

Amounts that must accompany applications

4-3 An application for a licence must be accompanied by the following:

(a) all applicable fees and assessments imposed by bylaw under section 85 [bylaws respecting licence fees and assessments] of the Act;

(b) all applicable fees and assessments imposed by regulation under section 130 (2) (d) [fees and assessments payable to superintendent] of the Act;

(c) all applicable assessments payable under section 104 [insurance fund assessments and deductibles] of the Act, if the insurance corporation requires that the assessments are to be paid by submitting them to the council before a licence is issued;

(d) all applicable assessments payable under section 113 [compensation fund assessments] of the Act, if the compensation fund corporation requires that the assessments are to be paid by submitting them to the council before a licence is issued.

Applications for new licences

4-4 (1) General requirements related to applications – An application for a new licence, other than a branch office licence, must contain, or have attached to it, the following:

(a) the category and level of licence for which the application is made;

(b) the legal name of the applicant;

(c) the mailing address for delivery to the applicant;

(d) information regarding any circumstances in which the applicant

(i) has been refused a licence under real estate, insurance, mortgage broker or securities legislation in British Columbia or another jurisdiction, as referred to in section 10 (d) (i) of the Act,

(ii) held a licence that was suspended or cancelled under real estate, insurance, mortgage broker, or securities legislation in British Columbia or another jurisdiction,

(iii) has been disciplined by a professional body, or

(iv) is the subject of an investigation or discipline proceedings under real estate, insurance, mortgage broker or securities legislation, or by a professional body, in British Columbia or another jurisdiction;

(e) information regarding

(i) any bankruptcy, insolvency or receivership proceedings to which the applicant has been subject, or

(ii) any court orders or judgments made against the applicant in relation to

(A) real estate services,

(B) a dealing in insurance, mortgages or securities, or

(C) misappropriation, fraud or breach of trust;

(f) in the case of an individual applicant who has been an owner, director, officer or partner of a business, information regarding

(i) any bankruptcy, insolvency or receivership proceedings to which the business has been subject during the period when the applicant was an owner, director, officer or partner, or

(ii) any court orders or judgments made against the business during that period in relation to

(A) real estate services,

(B) a dealing in insurance, mortgages or securities, or

(C) misappropriation, fraud or breach of trust;

(g) information about any offences under federal or provincial enactments, or under the law of any foreign jurisdiction, of which the applicant has been convicted, or with which the applicant is currently charged, other than

(i) highway traffic offences resulting only in monetary fines or demerit points, or both, and

(ii) charges initiated by a violation ticket as defined in the Offence Act or by a ticket as defined in the Contraventions Act (Canada);

(h) in the case of an individual applicant,

(i) the applicant’s employment history,

(ii) a criminal record check in a form satisfactory to the council, and

(iii) information required by the council to verify a criminal record check on the applicant, including

(A) the applicant’s place and date of birth,

(B) if the applicant was born outside Canada, the date of the applicant’s arrival in Canada,

(C) any previous legal names of the applicant, and other names by which the applicant is or has been known, 

(D)   if the applicant has resided outside of Canada for any
period, the dates and locations of these periods of residency, and

(E)   the applicant’s written consent, in a form required by the council, allowing the council to verify the accuracy of the criminal record check.

(i) a dated and signed certification by the applicant that the information and statements contained in the application or attachments are true and complete.

[04/22/2009 subsection (1)(d) repealed and the above subsection (1)(d) substituted effective 05/01/2009]

[07/20/2010 subsection (1)(h) repealed and the above subsection
(1)(h) substituted effective 07/22/2010]
[05/02/2011 subsection (1)(h) repealed and the above subsection
(1)(h) substituted effective 08/01/2011]

(2) Applications by individuals for representative, associate broker or managing broker licences – In addition to the requirements of subsection (1), an application by an individual for a new licence as a representative, associate broker or managing broker must contain, or have attached to it, the following:

(a) the applicant’s residential address and phone number;

(b) the applicant’s email address;

(c) any name other than the applicant’s legal name (such as a nickname, shortened name or hyphenated name), which might be used by the applicant for advertising purposes;

(d) the name of the proposed related brokerage, the proposed related brokerage office address and the phone number and any fax number for that office;

(e) if the individual is not a Canadian citizen, evidence of immigration or work visa status;

(f) unless this requirement is waived by the council in the case of an applicant who has been previously licensed, information relating to the education and experience of the applicant, including

(i) the dates of completion of examinations in courses established by or on behalf of the council for the purposes of licensee qualification, and

(ii) official transcripts of any real estate-related post secondary courses, other than courses referred to in subparagraph (i);

(g) in the case of an application for a managing broker licence, the applicant’s consent to the council obtaining a credit rating check on the applicant;

(h) a certification of the proposed related brokerage, signed by the managing broker or a director, officer or partner of the brokerage, approving the application and attesting that the applicant is of good reputation and is suitable for licensing.

[09/09/2008 subsection (2) repealed and the above subsection (2) substituted effective 11/01/2008]

[04/22/2009 subsection (2) repealed and the above subsection (2) substituted effective 05/01/2009]

(2.1) Applications by personal real estate corporations for representative, associate broker or managing broker licences – In addition to the requirements of subsection (1), an application by a personal real estate corporation for a new licence as a representative, associate broker or managing broker must contain, or have attached to it, the following:

(a) the legal name of the controlling individual of the personal real estate corporation;

(b) a confirmation that the applicant is in good standing with the corporate registry;

(c) the name of the proposed related brokerage;

(d) from the controlling individual,

(i) a confirmation that the personal real estate corporation has the attributes described in section 10.3 of the regulation,

(ii) an assurance that the personal real estate corporation will not conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services, and

(iii) an application referred to in section 10.5 (1) (b) of the regulation;

(e) a certification of the proposed related brokerage, signed by the managing broker or a director, officer or partner of the brokerage, approving the application;

(f) a dated and signed certification by the controlling individual that the information and statements contained in the application or attachments are true and complete.

[09/09/2008 subsection (2.1) added effective 11/01/2008]

(3) Applications for brokerage licences (corporations and partnerships) – In addition to the requirements of subsection (1), an application by a corporation or partnership for a new brokerage licence, other than a branch office licence, must be accompanied by the material required under section 4-5 [materials that must accompany applications for a new brokerage licence] of these bylaws and must contain, or have attached to it, the following:

(a) the proposed brokerage head office address, its phone number and any fax number and email address for that office;

(b) an indication of whether the applicant is a corporation or a partnership, and that it is in good standing with the applicable registry;

(c) the proposed fiscal year of the applicant in relation to brokerage activities;

(d) the names and branch location of the savings institutions at which the brokerage is proposing to maintain accounts;

(e) if the brokerage is to be operated under a trade name other than the legal name of the corporation or partnership, the trade name;

(f) the names and offices held of every director, officer and partner of the applicant, and, if a partner of the applicant is a corporation, every director and officer of that corporation;

(g) information to enable the council to ascertain whether the corporation or partnership is in sound financial circumstances, including

(i) an estimate of operating and capital expenditures for the first 3 months of operation, and

(ii) evidence of unimpaired working capital equal to that amount plus $5000;

(h) a nomination of the individual proposed as managing broker.

(4) Applications for brokerage licences (sole proprietorships) – In addition to the requirements of subsection (1), an application by an individual as sole proprietor for a new brokerage licence, other than a branch office licence, must be accompanied by the material required under section 4-5 [materials that must accompany applications for new brokerage licences] of these bylaws and must contain, or have attached to it, the following:

(a) the applicant’s residential address and phone number;

(b) the applicant’s email address;

(c) if the sole proprietorship is to be operated under a trade name other than the legal name of the sole proprietor, the trade name;

(d) the proposed brokerage head office address, its phone number and any fax number and email address for that office;

(e) the proposed fiscal year of the sole proprietorship in relation to brokerage activities;

(f) the names and branch location of the savings institutions at which the brokerage is proposing to maintain accounts;

(g) if the sole proprietor is not a Canadian citizen, evidence of immigration or work visa status;

(h) unless the applicant will be acting as managing broker, a nomination of the individual proposed as managing broker;

(i) if the applicant will be acting as the managing broker, unless this requirement is waived by the council for an applicant who has been previously licensed as a brokerage, managing broker or associate broker, information relating to the education and experience of the applicant, including the information referred to in subsection (2) (e);

(j) information to enable the council to ascertain whether the sole proprietorship is in sound financial circumstances, including

(i) an estimate of operating and capital expenditures for the first 3 months of operation, and

(ii) evidence of unimpaired working capital equal to that amount plus $5000;

(k) the applicant’s consent to the council obtaining a credit rating check on the applicant.

[04/22/2009 subsection (4) repealed and the above subsection (4) substituted effective 05/01/2009]

(5) Applications for branch office licences – An application by a brokerage for a new branch office brokerage licence must contain, or have attached to it, the following:

(a) an indication that the application is for a branch office licence;

(b) the legal name of the brokerage;

(c) if the brokerage is operated under a trade name other than its legal name, the trade name of the brokerage;

(d) the proposed branch office address, its phone number and any fax number and email address for that office;

(e) the mailing address for delivery to the applicant in respect of the branch office;

(f) a nomination of the individual proposed as managing broker of the branch office;

(g) the signature of the managing broker of the brokerage making the application, or of one of its directors, officers or partners.

(6) Late renewals – As an exception to the otherwise applicable requirements of this section, an application for a new licence that is made by a former licensee within 90 days after the end of the applicant’s previous licence term may, in the council’s discretion, be accepted by the council in the form of an application for a licence renewal.

Materials that must accompany applications for new brokerage licences

4-5 (1) An application for a new brokerage licence must be accompanied by the following:

(a) business licence – evidence satisfactory to the council

(i) that the applicant holds, or has applied for, a municipal business licence for its brokerage business, or

(ii) that no local government business licence is required for its brokerage business;

(b) residential brokerage office – if the licence is for a residential brokerage office under section 2-5 [residential brokerage offices] of the rules, evidence satisfactory to the council

(i) that the local government bylaws applicable to the residence permit the brokerage business to be conducted from the residence, and

(ii) of any restrictions established by local government bylaw limiting the persons who may conduct the brokerage business from the office.

(2) In addition to the requirements of subsection (1), an application for a new brokerage licence, other than a branch office licence, must be accompanied by the following:

(a) financial statement – for the purposes of section 2- 11 [financial qualification for brokerages] of the rules, a financial statement in a form acceptable to the council and verified by

(i) the statutory declaration of the proposed managing broker of the brokerage deposing to the accuracy of the financial statement, or

(ii) a certificate in a form acceptable to the council, issued by an accountant and certifying the accuracy of the statement;

(b) franchise operations – in the case of an applicant that proposes to operate as a franchisee,

(i) a copy of the franchisor’s consent for the applicant to use the franchise name, and

(ii) if requested by the council, a copy of any franchise or licence agreement with the franchisor;

(c) corporations and partnerships – in relation to an application made by a corporation or partnership, for each director, officer or partner referred to in section 4-4 (3) (f) of these bylaws, the following information and statements, in a form approved by the council:

(i) the individual’s legal name;

(ii) the individual’s residential address and phone number;

(iii) the information referred to in section 4-4 (1) (d) to (h) of these bylaws, other than the individual’s employment history, as if the individual were an applicant for a licence;

(iv) the legal name of the applicant in relation to which this information is being provided;

(v) a dated and signed certification by the individual that the information provided is true and complete.

(3) For the purposes of subsection (2) (a) (ii), the accountant must be an accountant within the meaning of the rules, and must be independent of the applicant and of any director, officer, partner or proposed managing broker of the applicant.

Applications for licence renewal

4-6 (1) General requirements related to applications – An application for a licence renewal, other than renewal of a branch office licence, must contain, or have attached to it, the following:

(a) the information referred to in section 4-4 (1) (a) to (c) [applications for new licences] of these bylaws;

(b) the information referred to in section 4-4 (1) (d) to (g) [applications for new licences] of these bylaws, in relation to any matters that have occurred since the most recent application for a new licence, licence renewal or licence reinstatement made by the applicant;

(c) in the case of an individual applicant, if requested by the council, a criminal record check, in a form satisfactory to the council and the information and consent referred to in section 4-4(1)(h)(iii) of these bylaws;

(d) a dated and signed certification by the applicant that the information and statements contained in the application or attachments are true and complete.

[05/02/2011 subsection (1)(c) repealed and the above subsection (1)(c) substituted effective 08/01/2011]

(2) Renewal by an individual of a representative, associate broker or managing broker licence – In addition to the requirements of subsection (1), an application by an individual for renewal of a representative, associate broker or managing broker licence must contain, or have attached to it, the following:

(a) the applicant’s residential address and phone number;

(b) the applicant’s email address;

(c) any name other than the applicant’s legal name (such as a nickname, shortened name or hyphenated name), which might be used by the applicant for advertising purposes;

(d) the name of the related brokerage, and the related brokerage office address and the phone number and any fax number for that office;

(e) in the case of an application for renewal of a managing broker licence, the applicant’s consent to the council obtaining a credit rating check on the applicant;

(f) the signature of the managing broker, or of a director, officer or partner of the related brokerage, approving the application.

[09/09/2008 subsection (2) repealed and the above subsection (2) substituted effective 11/01/2008]
[04/22/2009 subsection (2) repealed and the above subsection (2) substituted effective 05/01/2009]

(2.1) Renewal by a personal real estate corporation of a representative, associate broker or managing broker licence – In addition to the requirements of subsection (1), an application by a personal real estate corporation for renewal of a representative, associate broker or managing broker licence must contain, or have attached to it, the following:

(a) the legal name of the controlling individual of the personal real estate corporation;

(b) an indication that all filings required by the corporate registry are up to date;

(c) the name of the related brokerage;

(d) from the controlling individual,

(i) a confirmation that the personal real estate corporation continues to maintain the attributes described in section 10.3 of the regulation,

(ii) an assurance that the personal real estate corporation will not conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services, and

(iii) an application for licence renewal under subsection (2) of these bylaws;

(e) a dated and signed certification by the controlling individual that the information and statements contained in the application or attachments are true and complete;

(f) the signature of the managing broker, or of a director, officer or partner of the related brokerage, approving the application.

[09/09/2008 subsection (2.1) added effective 11/01/2008]

(3) Renewal of a brokerage licence (corporations and partnerships) – In addition to the requirements of subsection (1), an application by a corporation or partnership for renewal of a brokerage licence, other than renewal of a branch office licence, must contain, or have attached to it, the following:

(a) the brokerage head office address, its phone number and any fax number and email address for that office;

(b) an indication that all filings required by the corporate registry are up to date;

(c) if the brokerage is to be operated under a trade name other than the legal name of the corporation or partnership, the trade name.

(4) Renewal of a brokerage licence (sole proprietorships) – In addition to the requirements of subsection (1), an application by a sole proprietorship for renewal of a brokerage licence, other than renewal of a branch office licence, must contain, or have attached to it, the following:

(a) the applicant’s residential address and phone number;

(b) the applicant’s email address;

(c) if the sole proprietorship is to be operated under a trade name other than the legal name of the sole proprietor, the trade name;

(d) the brokerage head office address, its phone number and any fax number and email address for that office;

(e) the applicant’s consent to the council obtaining a credit rating check on the applicant.

[04/22/2009 subsection (4) repealed and the above subsection (4) substituted effective 05/01/2009]

(5) Renewal of a branch office licence – An application for renewal of a branch office brokerage licence must contain, or have attached to it, the following:

(a) an indication that the application is for a branch office licence;

(b) the legal name of the brokerage;

(c) if the brokerage is operated under a trade name other than its legal name, the trade name of the brokerage;

(d) the branch office address, its phone number and any fax number and email address for that office;

(e) the mailing address for delivery to the applicant in respect of the branch office;

(f) the signature of the managing broker of the branch office or of the brokerage, or of one of the directors, officers or partners of the brokerage.

Applications for licence reinstatement

4-7 (1) In this section:

licence reinstatement means reinstatement of a licence after it

(a) became inoperative under section 22 (1) [licensee ceases to be engaged by brokerage] of the Act,

(b) was suspended under section 116 (4) [failure to provide security] of the Act,

(c) became inoperative under section 10.7 (2) [personal real estate corporation ceases to maintain attributes] of the regulation, or

(d) was voluntarily surrendered to the council.

[09/09/2008 subsection (1) repealed and the above subsection (1) substituted effective 11/02/2008]

(2) Applications made within 90 days – If an application for licence reinstatement is made within 90 days after the date on which the licence became inoperative, was suspended or was surrendered, the application

(a) must be made in accordance with section 4-6 [licence renewal] of these bylaws as if it were an application for licence renewal, and

(b) in the case of an applicant for a representative licence who is required to re-qualify under section 2-9 [education re-qualification on reinstatement] of the rules, must include information relating to the education and experience of the applicant, including the information referred to in section 4-4 (2) (e) [new managing broker, associate broker and representative licences] of these bylaws.

(3) Applications made later than 90 days – If an application for licence reinstatement is made after the time referred to in subsection (2), but before the end of the term of the licence, the application must be made in accordance with section 4-4 [applications for new licences] of these bylaws as if it were an application for a new licence.

Applications for licence amendment

4-8 (1) Amendments to representative, associate broker and managing broker licences – A representative, associate broker or managing broker

(a) must apply for licence amendment if they are changing their legal name, and

(b) may apply for licence amendment to

(i) change the level or category of their licence, or

(ii) comply with section 10.4 (4) [licensing of personal real estate corporation and its related controlling individual] of the regulation.

[09/09/2008 subsection (1) repealed and the above subsection (1) substituted effective 11/01/2008]

(2) Amendments to brokerage licences – A brokerage

(a) must apply for licence amendment if they are changing their

(i) legal name,

(ii) trade name, or

(iii) office address, and

(b) may apply for licence amendment to change the category of their licence.

(3) All applications – An application for a licence amendment must include

(a) an indication that the application is for a license amendment,

(b) an identification of the nature of the proposed amendment, and

(c) the effective date of the amendment.

(4) Applications to change legal name – An application to amend a licence to change a licensee’s legal name must contain, or have attached to it, a birth certificate, notice of articles, marriage certificate, certificate of name change or other documentary evidence to support the name change.

(5) Applications to change brokerage office address – An application to amend a brokerage licence to change the office address to which the licence applies must contain, or have attached to it,

(a) the material referred to in section 4-5 (1) (a) [evidence of business licence] of these bylaws, and

(b) if the new office is to be a residential brokerage office under section 2-5 [residential brokerage offices] of the rules, the material referred to in section 4-5 (1) (b) [evidence respecting local government rules] of these bylaws.

(6) Other applications to change level or category of licence – An application to amend a licence to change the category or level of the licence, other than an application referred to in subsection (7),

(a) must be made in accordance with section 4-6 [licence renewal] of these bylaws as if it were an application for licence renewal, and

(b) in the case of an individual applicant, unless this requirement is waived by the council, must include information relating to the education and experience of the applicant, including the information referred to in section 4-4 (2) (e) [new managing broker, associate broker and representative licences] of these bylaws.

(7) Applications to become sole proprietorship – An application to amend a managing broker, associate broker or representative licence to become a sole proprietorship brokerage licence must be made in accordance with section 4-4 [applications for new licences] of these bylaws as if it were an application for a new sole proprietorship brokerage licence.

(8) An application for a licence amendment must be accompanied by the licensee’s current licence certificate.

Annual accountant’s report

4-9 (1) An accountant’s report filed by the brokerage with the council under section 7-7 (1) (b) [annual accountant’s report] of the rules must

(a) be in a form approved by the council,

(b) be prepared in accordance with this section, and

(c) include the information required by this section.

[12/06/2008 correction of typographical error in subsection (1) effective 01/01/2009]

(2) After the completion of the brokerage’s fiscal year, the brokerage must prepare an accountant’s report for the fiscal year containing the following information:

(a) the start and end dates of the brokerage’s fiscal year in relation to which the report is filed;

(b) the address of the brokerage and of all branch offices of the brokerage that operated at any time during that fiscal year;

(c) a list of each brokerage trust account, commission trust account and other savings institution account opened, closed or maintained by the brokerage during the fiscal year;

(d) for each account listed under paragraph (c),

(i) the name and branch location of the savings institution at which the account is or was kept,

(ii) the account number,

(iii) an indication of the type of account, and

(iv) if the account was opened or closed, or both, during the fiscal year, the date of the opening or closing, or both, as the case may be.

(3) The brokerage must provide the report prepared under subsection (2) to the accountant who is to complete the report in accordance with subsection (4), together with

(a) the brokerage’s financial statements for the fiscal year;

(b) copies of any subordination agreements to which the brokerage is a party;

(b.1) for each brokerage trust account, the monthly reconciliation referred to in section 8-2 (b) [trust account and general account records] of these rules, for

(i) all month ends that occurred during the fiscal year, and

(ii) all month ends that occur after the end of the fiscal year but before the date of completion of field work undertaken by the accountant to prepare the report;

(c) for each brokerage trust account that is a pooled trust account, monthly trust liability and asset reconciliations for

(i) all month ends that occurred during the fiscal year, and

(ii) all month ends that occur after the end of the fiscal year but before the date of completion of field work undertaken by the accountant to prepare the report;

(d) any other information that the accountant considers necessary in order to fulfill the accountant’s obligations under subsection (4).

[11/26/2005 section 4-9(3)(c) repealed and the above section 4-9(3)(c) substituted effective 01/01/2006]

[06/20/2007 subsection (3) repealed and the above subsection (3) substituted effective 07/01/2007]

(4) The accountant’s portion of the accountant’s report must do the following:

(a) indicate whether the brokerage has, for the brokerage’s fiscal year,

(i) maintained proper books, accounts and other records as required by the Act, the regulations and the rules,

(ii) maintained in its brokerage trust accounts sufficient funds to discharge its gross trust liabilities as disclosed in the information provided by the brokerage to the accountant for the purposes of the report, and

(iii) prepared a monthly trust reconciliation for all month ends referred to in subsection (3) (c);

(b) confirm, as a result of conducting a review engagement, the brokerage’s

(i) current and total assets (exclusive of goodwill, incorporation costs and other intangibles), and

(ii) current and total liabilities;

(c) report on the accounting principles used by the brokerage in preparation of its financial statements for the fiscal year;

(d) note any qualifications or exceptions to the information provided in paragraphs (a) to (c);

(e) provide the date of completion of field work undertaken to prepare the report;

(f) provide

(i) the name and professional status of the accountant,

(ii) the name of the accountant’s firm, if applicable, and

(iii) a contact address and phone number for both the accountant and, if applicable, the accountant’s firm;

(g) be dated and signed by the accountant.

[11/26/2005 section 4-9(4)(a)(ii) repealed and the above section 4-9(4)(a)(ii) substituted effective 01/01/2006]

(5) After the accountant has completed the accountant’s portion and returned the report to the brokerage, the brokerage must comply with subsection (6).

(6) Following its receipt of the accountant’s report from the accountant, the brokerage must have the report certified in accordance with subsection (7) as follows:

(a) in the case of a brokerage that is a sole proprietorship,

(i) by the sole proprietor, if the sole proprietor is acting as a managing broker for the brokerage, or

(ii) in any other case, by both a managing broker and the sole proprietor;

(b) in the case of a brokerage that is a partnership, by both a managing broker and a partner of the brokerage;

(c) in the case of a brokerage that is a corporation, by both a managing broker and a director or officer of the brokerage.

(7) The certification under subsection (6) must be that, subject to any noted exceptions,

(a) all books, records, accounts and subordination agreements of the brokerage, plus any correspondence between this brokerage and the council related to the fiscal year with regard to these books, records, accounts and subordination agreements, have been disclosed to the accountant,

(b) there have been no changes in capital structure, directors, officers, shareholders, partners or accountants of the brokerage since the date of the previous accountant’s report filed, and

(c) to the knowledge of the individual making the certification, the report is true and complete.

[09/01/2012 subsection (7)(a) repealed and the above subsection (7)(a) substituted effective 01/01/2013]

Solemn declaration – alternative to accountant’s report

4-9.1 (1) A solemn declaration filed by a brokerage with the council under section 7-7 (7) of the rules must

(a) be made by a related managing broker on oath or by solemn affirmation,

(b) be made before a commissioner for taking affidavits for British Columbia,

(c) be in a form approved by the council,

(d) be signed by the related managing broker and the person before whom the declaration is made,

(e) include the information and statements required by this section, and

(f) be submitted to the council together with the brokerage activity report and the financial statements for the applicable fiscal year of the brokerage.

(2) The declaration must contain, or have attached to it, the following:

(a) the name of the brokerage;

(b) the name of the related managing broker making the declaration;

(c) a list of each brokerage trust account, commission trust account and other savings institution account opened or maintained by the brokerage during the fiscal year;

(d) for each account listed under paragraph (c),

(i) the name and branch location of the savings institution at which the account is or was kept,

(ii) the account number,

(iii) an indication of the type of account, and

(iv) if the account was opened or closed, or both, during the fiscal year, the date of the opening or closing, as the case may be;

(e) the end date of the brokerage’s fiscal year to which the declaration relates.

(3) The declaration must state that

(a) the brokerage did not hold or receive any public trust money during the fiscal year to which the declaration relates, and

(b) to the knowledge of the relating managing broker, all information and statements in the declaration are true and complete.

[12/06/2008 section 4-9.1 added effective 01/01/2009]

Annual brokerage activity report

4-10 (1) A brokerage activity report filed by the brokerage with the council under section 7-7 (1) (c) [annual brokerage activity report] of the rules must

(a) be in a form approved by the council,

(b) include the information and statements required by this section, and

(c) be submitted to the council together with the annual accountant’s report and financial statements for the applicable fiscal year of the brokerage.

(2) The brokerage activity report must contain, or have attached to it, the following:

(a) the name of the brokerage;

(b) the start and end dates of the brokerage’s fiscal year in relation to which the report is filed;

(c) the number of related licensees of the brokerage;

(d) information respecting any business changes, as referred to in section 2-22 [brokerage must give notice of business changes] of the rules, for which notice has not yet been given to the council;

(e) an estimate of the percentage of the brokerage’s current total business that each of the following types of business constitutes:

(i) residential sales;

(ii) industrial, commercial and investment sales;

(iii) leases;

(iv) appraisals;

(v) consulting services;

(vi) rental property management;

(vii) strata management;

(f) the approximate number of transactions of each type of business as described in paragraph (e) that the brokerage has been involved with during the fiscal year;

(g) the approximate number of rental units and strata lots currently managed by the brokerage;

(h) the average monthly trust balance in all trust accounts for

(i) trades in real estate, and

(ii) commissions;

(i) the average monthly total of rents received;

(j) the average monthly total of strata fees held or received on behalf of strata corporations.

(3) The brokerage activity report must be completed, dated and signed as follows:

(a) in the case of a brokerage that is a sole proprietorship,

(i) by the sole proprietor, if the sole proprietor is acting as a managing broker for the brokerage, or

(ii) in any other case, by both a managing broker and the sole proprietor;

(b) in the case of a brokerage that is a partnership, by both a managing broker and a partner of the brokerage;

(c) in the case of a brokerage that is a corporation, by both a managing broker and a director or officer of the brokerage.

Brokerage winding up report

4-11 (1) A brokerage winding up report filed with the council by a brokerage under section 8-11 [brokerage obligations when winding up business] of the rules must

(a) be in a form approved by the council, and

(b) include the information and statements required by this section.

(2) The brokerage winding up report must contain, or have attached to it, the following:

(a) the legal name of the brokerage;

(b) the address of the brokerage head office and any branch offices;

(c) the name of the brokerage’s managing broker;

(d) the reason for the winding up;

(e) the effective date on which the brokerage will cease to carry on the business of a brokerage;

(f) information relating to each of the brokerage’s trust accounts, including for each account

(i) the account number,

(ii) the name of the savings institution, and the location of the branch, with which the account is held,

(iii) the type of trust account,

(iv) the account balance, and

(v) written confirmation, or a copy of the trust account statements, from the relevant savings institution verifying that the trust account balances are as indicated in subparagraph (iv);

(g) particulars relating to the brokerage’s trust accounts, including

(i) for trades in real estate, a list of all transactions in relation to which the brokerage holds money in a trust account, including deal number, name of buyer and seller, amount of deposit being held, date of contract of purchase and sale and completion date,

(ii) for all rental properties managed by the brokerage, a description of each property managed, a list of the persons on whose behalf trust funds are being held and the amount held in trust for each person, including security deposits, pet damage deposits and any other deposits,

(iii) for remuneration held either in a brokerage trust account or a commission trust account, or anticipated to be received,

(A) the names of all licensees on whose behalf the remuneration is being held or is anticipated to be received,

(B) the amount for each such licensee, and

(C) the expected date of pay out, and

(iv) any unclaimed amounts held in a trust account;

(h) a certification of a managing broker, director, officer, partner or sole proprietor of the brokerage in accordance with subsection (3).

(3) For the purposes of subsection (2) (h), the certifying individual must certify the following:

(a) the brokerage has ceased or will cease to carry on the business of the brokerage on the effective date indicated under subsection (2) (e);

(b) the brokerage has given written notice to all related licensees that

(i) the brokerage has ceased or will cease ceasing carry on the business of the brokerage, and

(ii) the licences of the licensees will become inoperative at that time, but may be reinstated in accordance with these bylaws and the rules;

(c) the licences of the brokerage, and the licences of all related licensees that are in the possession of the brokerage, have been or will be returned immediately to the council;

(d) the certifying individual, as trustee of the brokerage’s trust accounts,

(i) will be responsible for paying out all amounts held in trust as referred to in subsection (2) (f), and

(ii) will immediately inform the council as each trust account balance reaches zero;

(e) the certifying individual has arranged for the brokerage records to be kept as required by section 8-11 (e) [records to be retained on winding up] of the rules;

(f) to the best of the certifying individual’s knowledge, all information and statements in the report are true and complete.