Suspension Order

Published on 27 August, 2014

Women reading notebook with computer
Licensee
N/A
Current brokerage
8th Avenue Elite Realty Ltd. dba 8th Avenue Elite Realty
Brokerage at time of sanctioned activity
8th Avenue Elite Realty
Suspension Order date
August 26, 2014

Summary

IN THE MATTER OF THE REAL ESTATE SERVICES ACT

AND

IN THE MATTER OF

8TH AVENUE ELITE REALTY LTD. DBA

8TH AVENUE ELITE REALTY

ORDERS UNDER SECTION 45 AND 46 OF THE REAL ESTATE SERVICES ACT

Upon reading the Affidavit of Larry Buttress, Deputy Executive Officer, of the Real Estate Council of British Columbia, sworn August 26, 2014,

I AM OF THE OPINION that:

1. There has been conduct on the part of 8th Avenue Elite Realty Ltd. dba 8th Avenue Elite Realty in respect of which a Disciplinary Committee could make an order under section 43 of the Real Estate Services Act.

2. The length of time required to complete an investigation or hold a disciplinary hearing, or both, would be detrimental to the public interest.

I CONSIDER IT in the public interest to make an Order under sections 45(2)(a) and (c) of the Real Estate Services Act suspending the licence of 8th Avenue Elite Realty Ltd. dba 8th Avenue Elite Realty effective immediately and Order that it not provide any real estate services to or on behalf of any member of the public.

I CONSIDER IT in the public interest to and make the following orders under section 46(3) of the Real Estate Services Act that:

(a) The XXXX bank located at XXXX, B.C.; be required to hold any and all accounts, trust accounts, client funds, securities, term deposits, registered savings accounts and/or general accounts on deposit for, or in the name of 8th Avenue Elite Realty Ltd. or 8th Avenue Elite Realty, held solely or jointly until further order of the Real Estate Council including but not limited to:

(i) XXXX account number XXXX;

(ii) XXXX account number XXXX;

(iii) XXXX account number XXXX;

(b) The XXXX Bank located at XXXX, B.C.; be required to hold any and all accounts, trust accounts, client funds, securities, term deposits, registered savings accounts and/or general accounts on deposit for, or in the name of 8th Avenue Elite Realty Ltd. or 8th Avenue Elite Realty, held solely or jointly until further order of the Real Estate Council including but not limited to:

(iv) XXXX account number XXXX;

(v) XXXX account number XXXX;

(vi) XXXX account number XXXX;

(c) The XXXX located at XXXX, B.C. be required to hold any and all accounts, trust accounts, client funds, securities, term deposits, registered savings accounts and/or general accounts on deposit for, or in the name of 8th Avenue Elite Realty Ltd. or 8th Avenue Elite Realty, held solely or jointly until further order of the Real Estate Council including but not limited to:

(vii) XXXX account number XXXX;

(viii) XXXX account number XXXX;

(ix) XXXX account number XXXX;

(x) XXXX account number XXXX.

(d) The XXXX Bank located at XXXX, B.C. be required to hold any and all accounts, trust accounts, client funds, securities, term deposits, registered savings accounts and/or general accounts on deposit for, or in the name of 8th Avenue Elite Realty Ltd. or 8th Avenue Elite Realty, held solely or jointly until further order of the Real Estate Council including but not limited to:

(xi) XXXX account number XXXX; and

(xii) XXXX account number XXXX.

FURTHER, I CONSIDER IT to be in the public interest to make an Order under section 46(2)(a) of the Real Estate Services Act that 8th Avenue Elite Realty Ltd. dba 8th Avenue Elite Realty be prohibited from withdrawing any funds out of the above referred accounts without the consent of the Real Estate Council.

FURTHER, I CONSIDER IT to be in the public interest to make an Order under section 45(2)(c) of the Real Estate Services Act requiring 8th Avenue Elite Realty Ltd. or 8th Avenue Elite Realty to immediately deliver up all books and records including computer records, accounts, bank records, bank statements, client information, and computers to the Real Estate Council.

TAKE NOTICE that 8th Avenue Elite Realty Ltd. dba 8th Avenue Elite Realty may, pursuant to section 45(6) of the Real Estate Services Act, require a disciplinary hearing to be held by delivering written notice to the Real Estate Council.

Dated at the

City of Vancouver,

Province of British Columbia

This 26 day of August, 2014.

DISCIPLINE COMMITTEE

Abdul Ghouri

(Discipline Committee Member of the Real Estate Council on behalf of the Discipline Committee)