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"Point in Time" Regulation Content

Real Estate Services Act

Real Estate Services Rules

B.C. Reg. 209/2021

NOTE: Links below go to regulation content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to "current to" date of the regulation.)
SECTIONEFFECTIVE DATE
Section 1 April 1, 2023
February 1, 2024
Section 11 January 3, 2023
Section 26 April 1, 2023
February 1, 2024
Section 30 February 1, 2024
Section 40 April 1, 2023
Part 4 Division 4 Section 42.1 to 42.4 April 1, 2023
Section 52 January 3, 2023
Section 54 January 3, 2023
Section 57.1 January 3, 2023
Section 71 October 1, 2022
Section 75 February 1, 2024
Section 75.1 February 1, 2024
Section 83 February 1, 2024
Section 84 January 3, 2023
February 1, 2024
Section 93 February 1, 2024
Division 4 Section 93.1 and 93.2 February 1, 2024

 Section 1 definition of "real estate team" was added by BC Reg 193/2022, effective April 1, 2023.

 Section 1 definition of "personal information" was added by BC Reg 260/2023, effective February 1, 2024.

 Section 11 (4) (part) BEFORE amended by BC Reg 221/2022, effective January 3, 2023.

(4) Without limiting subsection (2) (a), an applicant is considered to have the experience and training referred to that subsection if the applicant

 Section 26 (2) (c) (xii) to (xvi) were added by BC Reg 193/2022, effective April 1, 2023.

 Section 26 (2) (d) (xii.1) to (xii.3) were added by BC Reg 193/2022, effective April 1, 2023.

 Section 26 (2) (a) (xiv) was added by BC Reg 260/2023, effective February 1, 2024.

 Section 26 (2) (d) (xii.4) and (xix) were added by BC Reg 260/2023, effective February 1, 2024.

 Section 30 (j) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(j) without limiting the requirements of Division 2 [Disclosures] of Part 5 [Relationships with Principals and Parties], if a conflict of interest does exist, promptly and fully disclose the conflict to the client.

 Section 40 (5) BEFORE amended by BC Reg 193/2022, effective April 1, 2023.

(5) If the superintendent approves a team name for a group of related licensees, real estate advertising may also identify the group by that team name.

 Section 40 (6) and (7) were added by BC Reg 193/2022, effective April 1, 2023.

 Part 4, Division 4, sections 42.1 to 42.4, was added by BC Reg 193/2022, effective April 1, 2023.

 Section 52 (1) (b) BEFORE amended by BC Reg 221/2022, effective January 3, 2023.

(b) subject to subsection (2), be separate from a service agreement or any other agreement under which real estate services are provided and separate from any agreement giving effect to a trade in real estate.

 Section 52 (2.1) was added by BC Reg 221/2022, effective January 3, 2023.

 Section 54 (2) (c) was added by BC Reg 176/2022, effective January 3, 2023.

 Section 57.1 was enacted by BC Reg 176/2022, effective January 3, 2023.

 Section 71 was repealed by BC Reg 193/2022, effective October 1, 2022.

 Section 75 (2) (b) (ii) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(ii) if authorized under subsection (3), a notice to reader prepared by an accountant.

 Section 75 (3) (part) and (4) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(3) The superintendent may authorize a brokerage to file financial statements that have been subject to a notice to reader prepared by an accountant if all of the following conditions are met:

(4) An accountant who, under subsection (2), audits or reviews the financial statements or prepares a notice to reader in relation to the financial statements, or who completes the accountant's report referred to in subsection (1) (b), must be independent of the brokerage and of any director, officer or partner of the brokerage or a related licensee of the brokerage.

 Section 75 (5) (c) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(c) provide the accountant with any other information the accountant considers necessary to enable the accountant to conduct the audit, review the financial statements, prepare the notice to reader or complete the accountant's report, as required by this section.

 Section 75.1 was enacted by BC Reg 260/2023, effective February 1, 2024.

 Section 83 (1) (a) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(a) written disclosures under Division 2 [Disclosures] of Part 5 [Relationships with Principals and Parties] or Part 9 [Licensee Exemptions] and any related acknowledgments;

 Section 83 (1) (c.1) was added by BC Reg 260/2023, effective February 1, 2024.

 Section 84 (1) (c) was added by BC Reg 176/2022, effective January 3, 2023.

 Section 84 (1) (a.1) was added by BC Reg 260/2023, effective February 1, 2024.

 Section 93 (c) BEFORE amended by BC Reg 260/2023, effective February 1, 2024.

(c) if requested by the superintendent, submit to the superintendent one or more of the financial statements and reports required under section 75 [annual financial statements, accountant's report and brokerage activity report];

 Division 4, sections 93.1 and 93.2 were enacted by BC Reg 260/2023, effective February 1, 2024.