| Copyright (c) Queen's Printer, Victoria, British Columbia, Canada |
IMPORTANT INFORMATION |
Assented to May 13, 2004
Part 1 — Introductory Provisions
1 In this Act:
"associate broker" means a person licensed as an associate broker;
"brokerage" means a person licensed as a brokerage;
"brokerage trust account" means, in relation to a brokerage, an account maintained by the brokerage under section 26 [obligation to maintain trust account];
"bylaw" means a bylaw of the real estate council under section 84 [general bylaws] or 85 [bylaws respecting licensing fees and assessments];
"compensable loss" means loss that is compensable loss within the meaning of section 60 [compensable loss];
"compensation committee" means a hearing committee established to make determinations and assessments of compensable loss under Part 5 [Payments from Special Compensation Fund];
"compensation fund corporation" means the Real Estate Compensation Fund Corporation established under section 109 [compensation fund corporation established];
"conduct unbecoming a licensee", in relation to a licensee or former licensee, means conduct unbecoming a licensee within the meaning of section 35 (2) [misconduct by licensee];
"council member" means a member of the real estate council under Part 6 [Real Estate Council];
"deceptive dealing", in relation to a person providing real estate services as a licensee, means any of the following:
(a) an intentional misrepresentation, by word or conduct, or in any other manner, of a material fact in relation to real estate services, or in relation to a trade in real estate to which the real estate services relate, or an intentional omission to disclose such a material fact;
(b) a course of conduct or business that is intended to deceive a principal about the nature of the real estate services, or about the nature of a trade in real estate to which the real estate services relate;
(c) an artifice, agreement, device or scheme to obtain money, profit or property by illegal means;
(d) a promise or representation about the future that is beyond reasonable expectation and not made in good faith;
"discipline committee" means a hearing committee established to conduct hearings under Division 2 [Discipline Proceedings] of Part 4;
"elected council member" includes a member of the real estate council temporarily appointed under section 76 (5) [election of council members];
"engaged", in relation to a brokerage, means a person who is
(a) a licensee employed by the brokerage to provide real estate services on its behalf, or
(b) a licensee who is acting in an independent contractor relationship with the brokerage to provide real estate services on its behalf;
"false or misleading statement" includes an omission in relation to information that is required or authorized to be provided under this Act;
"financial services tribunal" means the Financial Services Tribunal under the Financial Institutions Act;
"foundation" means the Real Estate Foundation of British Columbia continued under section 90 [foundation continued];
"foundation fund" means the fund of the foundation under section 94 [foundation fund];
"hearing committee" means a hearing committee established under section 83 [hearing committees];
"insurance corporation" means the Real Estate Errors and Omissions Insurance Corporation continued under section 99 [insurance corporation continued];
"insurance fund" means the Real Estate Errors and Omissions Insurance Fund under section 103 (1) [insurance fund];
"issue", in relation to a licence, includes renew;
"licence" means a licence issued under Part 2 [Licensing];
"managing broker" means a person licensed as a managing broker;
"money" includes currency, government or bank notes, cheques, drafts, money orders and amounts credited or received by electronic means;
"owner", in relation to rental real estate, includes a person entitled to possession of the real estate who exercises a right to sub-rent or sub-lease the real estate to another;
"party",
(a) in relation to a trade in real estate, does not include a licensee acting solely as a licensee, and
(b) in relation to a prospective trade in real estate, includes a potential party;
"principal", in relation to real estate services, means, as applicable,
(a) in the case of trading services, a party to a trade in real estate,
(b) in the case of rental property management services, other than trading services in relation to the rental of the real estate, the owner of the rental real estate to or on behalf of whom the services are provided, or
(c) in the case of strata management services, the strata corporation to whom or on behalf of whom the services are provided;
"professional misconduct", in relation to a licensee or former licensee, means professional misconduct within the meaning of section 35 (1) [misconduct by licensee];
"providing", in relation to real estate services, includes
(a) offering to provide such services,
(b) holding oneself out as a person who provides such services, or
(c) soliciting for the purposes of the provision of such services;
"real estate" means
(a) real property,
(b) regardless of whether it is or is not an interest in real property, a cooperative interest, shared interest in land or time share interest, as these are defined in the Real Estate Development Marketing Act, and
(c) a right in relation to real property that is defined by regulation to be real estate,
but does not include a right in relation to real property that is excluded by regulation;
"real estate council" means the Real Estate Council of British Columbia continued under section 73 [council continued];
"real estate services" means
(a) rental property management services,
(b) strata management services, or
(c) trading services;
"related" means,
(a) in relation to a brokerage, a managing broker, associate broker or representative who is licensed in relation to the brokerage, and
(b) in relation to a managing broker, associate broker or representative, the brokerage in relation to which the person is licensed;
"remuneration" includes any form of remuneration, including any commission, fee, gain or reward, whether the remuneration is received, or is to be received, directly or indirectly;
"representative" means a person licensed as a representative;
"rental property management services" means any of the following services provided to or on behalf of an owner of rental real estate:
(a) trading services in relation to the rental of the real estate;
(b) collecting rents or security deposits for the use of the real estate;
(c) managing the real estate on behalf of the owner by
(i) making payments to third parties,
(ii) negotiating or entering into contracts,
(iii) supervising employees or contractors hired or engaged by the owner, or
(iv) managing landlord and tenant matters
but does not include an activity excluded by regulation;
"rental real estate" means real estate that is or is intended to be rented or leased;
"rules" means rules made by the real estate council under section 86 [council rules];
"special compensation fund" means the Real Estate Special Compensation Fund established under section 112 [special compensation fund];
"stakeholder" means a brokerage holding money as a stakeholder under section 28 [money held as stakeholder];
"strata corporation" means a strata corporation within the meaning of the Strata Property Act and includes a section within the meaning of that Act;
"strata management services" means any of the following services provided to or on behalf of a strata corporation:
(a) collecting or holding strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act;
(b) exercising delegated powers and duties of a strata corporation or strata council, including
(i) making payments to third parties on behalf of the strata corporation,
(ii) negotiating or entering into contracts on behalf of the strata corporation, or
(iii) supervising employees or contractors hired or engaged by the strata corporation
but does not include an activity excluded by regulation;
"superintendent" means the Superintendent of Real Estate appointed under the Real Estate Development Marketing Act;
"Superintendent of Financial Institutions" means the Superintendent of Financial Institutions appointed under the Financial Institutions Act;
"trade in real estate" means
(a) a transaction for the purchase or sale of real estate, for the leasing of real estate or for any other form of acquisition or disposition of real estate, or
(b) a prospective trade in real estate within the meaning of paragraph (a);
"trading services" means any of the following services provided to or on behalf of a party to a trade in real estate:
(a) advising on the appropriate price for the real estate;
(b) making representations about the real estate;
(c) finding the real estate for a party to acquire;
(d) finding a party to acquire the real estate;
(e) showing the real estate;
(f) negotiating the price of the real estate or the terms of the trade in real estate;
(g) presenting offers to dispose of or acquire the real estate;
(h) receiving deposit money paid in respect of the real estate
but does not include an activity excluded by regulation;
"wrongful taking", in relation to a person providing real estate services as a licensee, means any of the following:
(a) a misappropriation or wrongful conversion of money or other property received by the person in relation to the real estate services;
(b) an intentional failure to account for or pay over, within a reasonable time, any money or other property that
(i) was received by the person, and
(ii) belongs to one or more principals in relation to the real estate services.
2 (1) This Act applies to every person who provides real estate services to or on behalf of another for or in expectation of remuneration.
(2) In addition but subject to the rules, this Act applies to every licensee who provides real estate services, even if the licensee
(a) provides real estate services on the licensee's own behalf,
(b) provides real estate services to or on behalf of another but not for or in expectation of remuneration, or
(c) would otherwise be exempted by this Act or the regulations from the requirement to be licensed in relation to the provision of those real estate services.
Division 1 — Licence Requirements
3 (1) A person must not provide real estate services to or on behalf of another, for or in expectation of remuneration, unless the person is
(a) licensed under this Part to provide those real estate services, or
(b) exempted by subsection (3) or the regulations from the requirement to be licensed under this Part in relation to the provision of those real estate services.
(2) A licence required by this Part is additional to any licence, registration, certificate, enrollment or qualification required under any other Act.
(3) In addition to any exemption provided by regulation, the following are exempt from the requirement to be licensed under this Part:
(a) a person acting under the authority of a court;
(b) a trustee in bankruptcy, custodian, receiver, receiver manager or liquidator who is appointed under a provincial or federal enactment, in respect of real estate services undertaken by the person in that capacity;
(c) an executor or administrator of an estate, in respect of real estate services provided in relation to real estate owned or held by the estate;
(d) a trustee, in respect of real estate services provided under the terms of a will, marriage settlement or deed of trust;
(e) a financial institution that has a trust business authorization under the Financial Institutions Act, in respect of real estate services provided in relation to real estate that it owns, holds or administers;
(f) a practising lawyer as defined in section 1 of the Legal Profession Act, in respect of real estate services provided in the course of the person's practice.
4 (1) No action may be brought or continued for remuneration in relation to real estate services unless, at the time the real estate services were provided, the person claiming the remuneration was
(a) licensed under this Part to provide those real estate services, or
(b) exempted by this Act or the regulations from the requirement to be licensed under this Part in relation to the provision of those real estate services.
(2) Subsection (1) does not apply to an action brought against a brokerage in relation to real estate services if the action is brought by a person who is licensed, or otherwise authorized, under the laws of a jurisdiction other than British Columbia to
(a) provide those real estate services, and
(b) act in a capacity equivalent to that of a brokerage under this Act.
Division 2 — Licence Levels, Categories and Relationships
5 (1) The licence levels under this Part are as follows:
(a) brokerage, being a licensee on behalf of which other licensees must provide real estate services;
(b) managing broker, being a licensee responsible for a brokerage as provided in section 6 [brokerage must have managing broker];
(c) associate broker, being a licensee who meets educational and experience requirements to be a managing broker, but is providing real estate services under the supervision of a managing broker;
(d) representative, being a licensee providing real estate services under the supervision of a managing broker.
(2) An individual may be licensed at any licence level.
(3) Unless permitted by the regulations, a partnership or corporation may be licensed only as a brokerage.
(4) Subject to the rules, a brokerage must have a brokerage licence for each branch office from which it operates.
(5) Within the licence levels under subsection (1), a person may be licensed within a category that is established by the rules on the basis of the real estate services permitted to be provided under the licence.
6 (1) Subject to the rules, a brokerage
(a) must have one or more managing brokers licensed in relation to the brokerage, and
(b) may only provide real estate services that are permitted by the licence of a managing broker who is licensed in relation to the brokerage.
(2) A managing broker licensed in relation to a brokerage acts for the brokerage for all purposes under this Act, and is responsible for
(a) the exercise of the rights conferred on the brokerage by its licence,
(b) the performance of the duties imposed on the brokerage by its licence, and
(c) the control and conduct of the brokerage's real estate business, including supervision of the associate brokers and representatives who are licensed in relation to the brokerage.
7 (1) Subject to subsection (2), a managing broker, associate broker or representative must be
(a) licensed in relation to a single brokerage, and
(b) engaged by that brokerage.
(2) If permitted by the rules, a managing broker may be licensed in relation to more than one brokerage if the brokerages are affiliated within the meaning of the rules.
(3) A managing broker, associate broker or representative
(a) must not provide real estate services other than on behalf of the brokerage in relation to which they are licensed, and
(b) is not entitled to and must not accept remuneration in relation to real estate services from any person other than the brokerage in relation to which they are licensed.
(4) A related licensee of a brokerage is, when acting for the brokerage, subject to any restrictions and conditions applicable to the brokerage licence in relation to which they are acting.
(5) A brokerage
(a) must not provide real estate services unless the services are provided on behalf of the brokerage by a managing broker, associate broker or representative who is licensed in relation to and engaged by the brokerage, and
(b) must not engage or allow a licensee who is licensed in relation to another brokerage to provide real estate services on behalf of the first brokerage unless the licensee is a managing broker licensed under subsection (2) in relation to both brokerages and engaged by both brokerages.
Division 3 — Licensing Authority
8 In this Part, unless otherwise provided, an application for a licence includes
(a) an application for a new licence, and
(b) an application for renewal, amendment or reinstatement of an existing licence.
9 (1) In order to make an application under this Division, a person must submit to the real estate council an application that
(a) is in the form required by the real estate council,
(b) contains the information required by the bylaws,
(c) is certified in accordance with the bylaws,
(d) is accompanied by any other information and documentation required by the bylaws, and
(e) is accompanied by the amounts required by the bylaws and the regulations.
(2) An application for a brokerage licence must identify the persons proposed to act as managing brokers licensed in relation to the brokerage.
(3) In the case of an individual who is
(a) licensed as a brokerage, and
(b) qualified to be a managing broker,
the individual is deemed to be a managing broker licensed in relation to the brokerage unless an application under subsection (2) in relation to the brokerage licence indicates that the individual will not be acting in that capacity.
(4) An application for a managing broker, associate broker or representative licence must identify the brokerage in relation to which the applicant proposes to be licensed.
(5) The real estate council may refuse to deal with an application until any amounts owed by the applicant to the real estate council, insurance corporation or compensation fund corporation, or required under this Act to be collected by the real estate council from the applicant, are paid.
10 An applicant for a new licence or a licence renewal must satisfy the real estate council that they meet the following applicable requirements:
(a) the applicant is of good reputation and suitable to be licensed at the level and in the category for which the applicant is applying;
(b) in the case of an applicant who is an individual, the applicant
(i) is at least 19 years of age, and
(ii) meets the educational and experience requirements established by the rules;
(c) in the case of an applicant that is a partnership or corporation,
(i) the applicant's partners or directors and officers, as the case may be, are of good reputation, and
(ii) if a partner of the applicant is a corporation, the corporation's directors and officers are of good reputation;
(d) in all cases, the applicant has not
(i) been refused a licence under real estate, insurance, mortgage broker or securities legislation in British Columbia or another jurisdiction,
(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) been disciplined by a professional body, or
(iv) been convicted of an offence
for a reason that reveals the applicant as unfit to be a licensee;
(e) in all cases, the applicant meets any other qualification requirements established by the rules.
11 The real estate council may
(a) conduct an investigation, or
(b) require the applicant to provide the real estate council with additional information, documents or verification,
to the extent the real estate council considers necessary for the evaluation of an application under section 9 [making an application for a licence].
12 If a licensee has applied for renewal of a licence in accordance with section 9 [making an application for a licence] before the earlier of
(a) the end of the licence term, and
(b) if applicable, a date established under the rules,
the licence continues in effect beyond the end of its term until the real estate council notifies the licensee of its decision with respect to the application.
13 (1) If an applicant does not satisfy the real estate council respecting the qualification requirements under section 10 [qualifications for obtaining licence], the real estate council may refuse to issue the licence.
(2) In addition, in the case of an applicant for a new brokerage licence, the real estate council may refuse to issue the licence if the real estate council considers that the applicant has a legal name or trade name that is likely to confuse or mislead the public.
(3) Before refusing to issue a licence, the real estate council must give notice to the applicant and provide the applicant with an opportunity to be heard respecting the matter.
(4) If the real estate council refuses to issue a licence, it must
(a) provide the applicant with written notice of the refusal and the reasons for it, and
(b) advise the applicant of the right to appeal under Division 4 [Appeals to Financial Services Tribunal] of Part 4.
14 The real estate council may issue a temporary licence that
(a) requires the licensee to meet one or more specified conditions within a specified period of time or by a specified date, and
(b) is cancelled, effective at the end of that specified period or on that specified date, if the conditions are not met by that time.
15 (1) Subject to this section, the real estate council may, as it considers necessary or desirable in relation to a specific licence,
(a) impose conditions and restrictions on the licence,
(b) vary a condition or restriction applicable to the licence, or
(c) remove a condition or restriction applicable to the licence.
(2) The powers under subsection (1) (a) or (b) to impose or vary a condition or restriction are exercisable only
(a) on or before the date on which the licence is issued, with effect on and after that date, or
(b) on the written application or with the written consent of the licensee.
(3) Before imposing or varying a condition or restriction as referred to in subsection (2) (a), the real estate council must give notice to the applicant and provide the applicant with an opportunity to be heard respecting the matter.
(4) If the real estate council imposes or varies a condition or restriction as referred to in subsection (2) (a), it must
(a) provide the applicant with written notice of the condition or restriction and the reasons for it, and
(b) advise the applicant of the right to appeal under Division 4 [Appeals to Financial Services Tribunal] of Part 4.
(5) The power under subsection (1) (c) to remove a condition or restriction is exercisable at any time on the real estate council's own initiative or on the written application of the licensee.
16 (1) If
(a) new licence conditions or restrictions apply to a brokerage licence, or
(b) existing conditions or restrictions on a brokerage licence are varied or removed,
the real estate council may amend the licences of the related licensees of the brokerage to reflect the conditions and restrictions applicable to the brokerage licence.
(2) If
(a) new licence conditions or restrictions apply to a managing broker licence, or
(b) existing conditions or restrictions on a managing broker licence are varied or removed,
the real estate council may amend the licence of the related brokerage to reflect the conditions and restrictions applicable to the managing broker licence.
17 A condition or restriction that applies to a licence under this Act is part of the licence in respect of which it applies, whether included in the licence, attached to it or contained in a separate document.
18 The real estate council may amend a licence in any of the following circumstances:
(a) on the written application or with the written consent of the licensee;
(b) as provided in section 15 [conditions and restrictions in relation to a specific licence];
(c) as provided in section 16 [conditions and restrictions on related licences];
(d) to give effect to an order under Division 2 [Discipline Proceedings] or Division 3 [Authority of Superintendent] of Part 4;
(e) to give effect to a rule under section 86 (2) (b) [rules respecting general restrictions and conditions].
Division 4 — Inoperative, Suspended and Cancelled Licences
19 (1) A licence is subject to automatically becoming inoperative in accordance with
(a) section 22 (1) [licensee ceases to be engaged by brokerage], or
(b) section 23 (1) or (3) [effect on related licensees if licence becomes inoperative].
(2) A licence is subject to suspension or cancellation in accordance with any of the following:
(a) automatically in accordance with
(i) section 14 (b) [cancellation of temporary licences],
(ii) section 104 (3) [failure to pay insurance assessment],
(iii) section 113 (3) [failure to pay compensation assessment], or
(iv) section 116 (4) [failure to provide required security];
(b) by order of the real estate council under section 24 [cancellation or suspension if qualification not met];
(c) by order of a discipline committee under Division 2 [Discipline Proceedings] of Part 4;
(d) by order of the superintendent under Division 3 [Authority of Superintendent] of Part 4.
20 A licensee must not provide real estate services at any time that the licensee's licence is inoperative or suspended.
21 (1) A person whose licence becomes inoperative or is suspended or cancelled must immediately
(a) cease to hold themselves out as a licensee, and
(b) surrender the licence to the real estate council.
(2) If the licence of a person whose licence becomes inoperative or is suspended or cancelled is in the possession of the related brokerage, that brokerage must immediately surrender the licence to the real estate council.
(3) The real estate council may
(a) impound the records of a brokerage whose licence has become inoperative or has been suspended or cancelled, and
(b) retain those records for a period of 2 years or until the licence is reinstated, whichever is earlier.
22 (1) If a managing broker, associate broker or representative ceases to be engaged by the brokerage in relation to which the person is licensed,
(a) that person's licence becomes inoperative, and
(b) the person ceases to be licensed in relation to the brokerage,
effective as of the time that the person ceases to be engaged by the brokerage.
(2) On application of a person whose licence has become inoperative under subsection (1), the real estate council may, if satisfied that the person continues to be otherwise qualified for the licence,
(a) reinstate the licence in its previous form if the person is re-engaged by the same brokerage, subject to any applicable amendments under section 16 [conditions and restrictions on related licences], or
(b) reinstate the licence with necessary amendment if the person is engaged by another brokerage.
23 (1) If a brokerage licence becomes inoperative or is suspended or cancelled, 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.
(2) In relation to a licence that becomes inoperative under subsection (1), if
(a) the related brokerage licence is reinstated, and
(b) the related licensee is licensed in relation to, and engaged by, the brokerage at the time of that reinstatement,
the licence of the related licensee is automatically reinstated.
(3) Subject to the rules, if the licence of the only managing broker for a brokerage becomes inoperative or is suspended or cancelled, the licences of the brokerage and its related licensees become inoperative, effective as of the time at which the managing broker licence becomes inoperative or is suspended or cancelled.
(4) In relation to a licence that becomes inoperative under subsection (3), if the managing broker licence referred to in that subsection is reinstated in relation to the same brokerage, the licences of
(a) that brokerage, and
(b) the related licensees who are licensed in relation to that brokerage and engaged by the brokerage at the time of that reinstatement,
are automatically reinstated.
(5) For certainty, a licence that is reinstated under this section is subject to section 7 (4) [licensee is subject to restrictions and conditions applicable to brokerage licence].
24 (1) If an applicant for a licence made a false or misleading statement in or in relation to their application, respecting a matter referred to in section 10 [qualifications for obtaining licence], the real estate council may, by order,
(a) cancel the licence, or
(b) suspend the licence until satisfied that the licensee is qualified to hold the licence.
(2) Before cancelling or suspending a licence under this section, the real estate council must give notice to the licensee and provide the licensee with an opportunity to be heard respecting the matter.
(3) If the real estate council makes an order under this section, it must
(a) provide the licensee with written notice of the cancellation or suspension and the reasons for it, and
(b) advise the licensee of the right to appeal under Division 4 [Appeals to Financial Services Tribunal] of Part 4.
Part 3 — Trust Accounts and Other Financial Matters
25 A brokerage must maintain proper books, accounts and other records in accordance with the rules, and must keep these records in British Columbia.
26 (1) A brokerage must maintain, in accordance with the rules, one or more interest bearing trust accounts with one or more savings institutions in British Columbia.
(2) An account required under subsection (1) must be designated as a trust account both in the brokerage's records and in the records of the savings institution holding the account.
27 (1) A licensee engaged by a brokerage must promptly pay or deliver to the brokerage
(a) all money held or received from, for or on behalf of a principal in relation to real estate services, and
(b) all money held or received on account of remuneration for real estate services, including a share of remuneration received from another brokerage and whether or not the remuneration has already been earned.
(2) A brokerage must promptly pay into a brokerage trust account
(a) all money held or received from, for or on behalf of a principal in relation to real estate services, and
(b) all money held or received on account of remuneration for real estate services, including a share of remuneration received from another brokerage.
(3) For the purposes of this section, if money referred to in subsection (1) or (2) is held or received by a person who is
(a) an officer, director, controlling shareholder or partner of a brokerage,
(b) an employee of a brokerage or of a related licensee of a brokerage, or
(c) a person acting in an independent contractor relationship with a brokerage or with a related licensee of a brokerage,
the money is deemed to be held or received by the brokerage or related licensee, as applicable.
(4) Subsections (1) and (2) do not apply to money held or received by a licensee providing trading services in relation to a trade in real estate if,
(a) by written agreement that is separate from any agreement giving effect to the trade in real estate, all principals in relation to the trading services agree that subsections (1) and (2) do not apply, and
(b) any conditions established by the rules are met.
(4.1) Despite subsection (2) (b), remuneration that has already been earned, as determined in accordance with the rules, by a brokerage may be paid,
(a) if none of the remuneration is payable to another brokerage, into a commission trust account maintained by the brokerage, or
(b) if none of the remuneration is payable to either another brokerage or a related licensee, into a brokerage account other than
(i) a brokerage trust account, or
(ii) a commission trust account maintained by the brokerage.
(4.2) [Repealed 2007-7-82.]
(5) Subject to the rules, a brokerage must ensure that no money, other than money referred to in subsection (1) or (2), is paid into its brokerage trust accounts.
28 (1) Subject to subsection (3), this section applies to money held or received in respect of a trade in real estate for which there is an agreement between the parties for the acquisition and disposition of the real estate.
(2) If the brokerage holds the money in a brokerage trust account, then, despite any rule of law to the contrary, the brokerage holds that money as a stakeholder and not as agent for one of the parties to the trade in real estate,
(a) unless or until the parties agree otherwise in writing, or
(b) unless or until circumstances established by the regulations apply.
(3) This section does not apply to the following:
(a) rents or payments under an option to purchase, if collected on a periodic and regular basis;
(b) security deposits and pet damage deposits paid by tenants under the Residential Tenancy Act;
(c) payments prescribed by regulation.
29 (1) A brokerage that is credited by a savings institution with interest on money held in a brokerage trust account
(a) holds the interest in trust for the foundation, and
(b) must cause the savings institution to pay the interest to the foundation in accordance with the regulations.
(2) Subsection (1) does not apply if the brokerage holds the money under a duty under the Residential Tenancy Act to pay the interest to a tenant.
(3) Subject to subsection (4), subsection (1) does not apply to money deposited in a separate trust account maintained by a brokerage for a principal, in which case the interest is to be paid to or in accordance with the instructions of the principal.
(4) If money deposited in an account referred to in subsection (3) becomes held by the brokerage as a stakeholder, subsection (1) applies to that money unless the parties to the trade in real estate agree otherwise in writing, in which case the interest is to be paid in accordance with the agreement.
30 (1) Money in a brokerage trust account, other than money that the brokerage holds as stakeholder, may be withdrawn only if it is one or more of the following:
(a) money paid into the trust account by mistake;
(b) interest paid in accordance with section 29 [interest on trust account];
(c) money authorized to be withdrawn under section 31 [payment of licensee remuneration];
(d) unclaimed money transferred under section 32 [unclaimed money held in trust];
(e) money paid into court under section 33 [payment of trust funds into court];
(f) money paid in accordance with a court order;
(g) money paid to or in accordance with the instructions of the principal to whose credit the money was deposited.
(2) Money in a brokerage trust account that the brokerage holds as stakeholder may be withdrawn only
(a) as provided in subsection (1) (a) to (f),
(b) in accordance with a written agreement of the parties to the trade in real estate, or
(c) in accordance with the regulations.
(3) This section does not apply to a deposit received by a brokerage under section 18 of the Real Estate Development Marketing Act and, instead, that deposit must be dealt with in accordance with that Act.
31 (1) Money in a brokerage trust account that is intended as remuneration for a licensee may be withdrawn from the account when it has been earned as determined in accordance with the rules.
(2) Money withdrawn from a brokerage trust account under subsection (1) must be paid by the brokerage as follows:
(a) any share of the remuneration that is payable by the brokerage to another brokerage must be paid to the other brokerage directly out of the brokerage trust account;
(b) any net share of the remuneration that is payable by the brokerage to a licensee engaged by the brokerage must be paid, at the brokerage's option,
(i) to that licensee directly out of the brokerage trust account, or
(ii) into a commission trust account maintained by the brokerage in accordance with the rules and, from that account, to or on behalf of the licensee.
32 (1) A brokerage may transfer money held in trust by a brokerage to the administrator appointed under the Unclaimed Property Act, if
(a) the brokerage has made reasonable efforts to ascertain the identity of or to locate the person entitled to claim the money and to notify that person about the money, and
(b) despite those efforts, the money has been unclaimed for longer than one year after the applicable time prescribed for the purposes of this section.
(2) Money transferred under subsection (1) is deemed to be an unclaimed money deposit under the Unclaimed Property Act.
33 (1) If, in relation to money held in trust by a brokerage, it appears to the brokerage that
(a) there are adverse claimants to the money,
(b) the identity of one or more of the persons entitled to it is unknown, or
(c) there is no person capable of giving, or authorized to give, a valid discharge for it,
the brokerage may apply to the Supreme Court for an order for payment of the money into court.
(2) An application under this section must be accompanied by an affidavit setting out the following as applicable and to the extent possible:
(a) the nature of the real estate services in respect of which the money was held or received;
(b) the names and addresses of the principals in relation to those real estate services;
(c) the date and terms on which the brokerage received the money;
(d) the names and addresses of all claimants to the money of whose claims the brokerage is aware;
(e) particulars of any claim for remuneration by the brokerage, or a related licensee of that brokerage, arising out of the real estate services.
(3) An application under this section may be made without notice to any other person unless otherwise ordered by the court.
(4) On an application under this section, the court may make an order for payment of the money into court, and payment into court under the order discharges the brokerage from liability for the amount paid.
(5) Money paid into court under an order under this section must not be paid out of court except by order of the court, which may do one or more of the following:
(a) order payment of all or part of the money to the person or persons entitled to it on terms the court considers appropriate;
(b) direct the trial of an issue;
(c) make any other order that the court considers appropriate, including an order for the payment of costs to the brokerage that made the application.
Part 4 — Discipline Proceedings and Other Regulatory Enforcement
Division 1 — General Matters, Complaints and Investigations
34 For the purpose of this Part, "licensee" includes a former licensee in relation to matters that occurred while the person was a licensee.
35 (1) A licensee commits professional misconduct if the licensee does one or more of the following:
(a) contravenes this Act, the regulations or the rules;
(b) breaches a restriction or condition of their licence;
(c) does anything that constitutes wrongful taking or deceptive dealing;
(d) demonstrates incompetence in performing any activity for which a licence is required;
(e) fails or refuses to cooperate with an investigation under section 37 [investigation by council] or 48 [investigations by superintendent];
(f) fails to comply with an order of the real estate council, a discipline committee or the superintendent;
(g) makes or allows to be made any false or misleading statement in a document that is required or authorized to be produced or submitted under this Act.
(2) A licensee commits conduct unbecoming a licensee if the licensee engages in conduct that, in the judgment of a discipline committee,
(a) is contrary to the best interests of the public,
(b) undermines public confidence in the real estate industry, or
(c) brings the real estate industry into disrepute.
(3) A brokerage that is a partnership or corporation may be found to have committed professional misconduct or conduct unbecoming a licensee if a partner, officer, director or controlling shareholder of the brokerage does one or more of the things referred to in subsection (1) or (2).
36 (1) A person may make a complaint to the real estate council if the person believes that a licensee may have committed professional misconduct or conduct unbecoming a licensee.
(2) A complaint must be in writing and must include particulars.
(3) Unless a complaint is made anonymously, the real estate council must
(a) acknowledge receipt of the complaint, and
(b) on disposition of the matter, inform the complainant of the disposition.
37 (1) On its own initiative or on receipt of a complaint, the real estate council may conduct an investigation to determine whether a licensee may have committed professional misconduct or conduct unbecoming a licensee.
(2) An investigation may be carried out by
(a) one or more council members,
(b) an officer or employee of the real estate council, or
(c) a person retained by the real estate council for this purpose.
(3) For the purposes of an investigation, a person carrying out the investigation may do one or more of the following:
(a) at any time during business hours, inspect and copy records that are located on the business premises of
(i) a licensee or former licensee, or
(ii) an officer, director, controlling shareholder or partner of a licensee or former licensee;
(b) require a person referred to in paragraph (a) to
(i) answer, or meet with the investigator to answer, inquiries relating to the investigation, and
(ii) produce information, records or other things in the person's possession or control for examination by the investigator.
(4) A person referred to in subsection (3) (a) must not withhold, destroy, conceal or refuse to provide any information or thing reasonably required for the purposes of an investigation under this section.
38 (1) The real estate council may apply to the Supreme Court for an order authorizing the seizure of records or other evidence, wherever located, belonging or relating to a licensee from the person named in the order, if there are reasonable grounds to believe that the licensee may have committed professional misconduct or conduct unbecoming a licensee.
(2) An application under subsection (1) may be made without notice to any other person unless otherwise ordered by the court.
(3) An application under subsection (1) must be supported by an affidavit stating
(a) the grounds for believing that the licensee may have committed professional misconduct or conduct unbecoming a licensee, and
(b) the grounds for believing that the seizure will produce evidence relevant to that matter.
(4) On an application under subsection (1), the court may make an order
(a) designating the person who will conduct the seizure and authorize that person to conduct it,
(b) setting the time and place the seizure will take place, and
(c) giving any other directions necessary to carry out the seizure.
(5) This section does not apply to records or other evidence subject to solicitor-client privilege.
Division 2 — Discipline Proceedings
39 (1) The real estate council must establish one or more hearing committees under section 83 [hearing committees] as discipline committees for the purposes of this Part.
(2) A member of a discipline committee who is not a member of the real estate council must be
(a) a licensee, or
(b) a lawyer, an accountant or another person who the real estate council considers is an expert in relation to relevant matters.
(3) A discipline committee that consists of a single council member may deal with a matter under this Division only
(a) if the affected licensee does not object, or
(b) to make an order under section 43 (4) [failure to comply with original order], 45 [orders in urgent circumstances] or 46 [orders to freeze property].
(4) Subject to subsection (3), the real estate council may assign a discipline committee to deal with a particular matter for which a notice under section 40 [notice of discipline hearing] has been issued.
40 (1) Following an investigation under section 37 [investigations], the real estate council may issue a notice to the affected licensee advising that a hearing by a discipline committee is to be held respecting the licensee.
(2) The notice must
(a) describe the nature of the complaint or other matter that is to be the subject of the discipline hearing,
(b) specify the time and place set for commencement of the hearing, and
(c) advise the licensee that the discipline committee is entitled to proceed with the hearing in the absence of the licensee.
(3) The notice must be given to the licensee, at least 21 days before the time set for the discipline hearing, as follows:
(a) in the case of notice to a current licensee, by personal service or by delivery in accordance with the rules;
(b) in the case of notice to a former licensee, by personal service;
(c) as an alternative in any case, in accordance with an order under section 125 [substituted service].
41 (1) At least 14 days, or a shorter period permitted by the real estate council, before the time set for the discipline hearing, the licensee who received a notice under section 40 [notice of discipline hearing] may deliver to the real estate council a written proposal that includes the licensee's consent to a discipline committee making a specified order under section 43 [discipline orders] without conducting a hearing.
(2) If a proposal under subsection (1) is received, the real estate council
(a) may postpone the time set for commencing the hearing until the proposal has been dealt with in accordance with this section, and
(b) if the hearing is to be conducted after the postponement, must give notice of the time and place of the hearing in accordance with section 40 (3) [delivery of hearing notice].
(3) The real estate council may refer or decline to refer a proposal to a discipline committee.
(4) If a proposal is referred under subsection (3), the discipline committee may accept the proposal, in which case
(a) the discipline committee may make the proposed order, and
(b) no further proceedings may be taken under this Division or Division 5 [Administrative Penalties] with respect to the matter, other than to enforce the terms of the order as proposed or to deal with a contravention of the order.
(5) Regardless of whether or not a proposal has been referred, accepted or rejected, the proposal may not be used, without the consent of the licensee who made the proposal,
(a) in any proceeding under this Act with respect to the matter, other than
(i) as referred to in subsection (4) (b),
(ii) an appeal of the order by the superintendent under section 54 (1) (d) [appeals by superintendent], or
(iii) for the purposes of considering a claim under Part 5 [Payments from Special Compensation Fund], or
(b) in any civil proceeding with respect to the matter.
42 (1) If notice of a discipline hearing has been given in accordance with section 40 (3) [notice], a discipline committee may proceed with the discipline hearing, whether or not the licensee appears in person and whether or not the licensee is represented by legal counsel at the hearing.
(2) For the purposes of a discipline hearing, sections 34 (3) and (4) [power to compel witnesses and order disclosure], 48 [maintenance of order at hearings] and 49 [contempt proceeding for uncooperative witness or other person] of the Administrative Tribunals Act apply to the discipline committee.
43 (1) After a discipline hearing, the discipline committee must
(a) act under this section if it determines that the licensee has committed professional misconduct or conduct unbecoming a licensee, or
(b) in any other case, dismiss the matter.
(2) If subsection (1) (a) applies, the discipline committee must, by order, do one or more of the following:
(a) reprimand the licensee;
(b) suspend the licensee's licence for the period of time the committee considers appropriate or until specified conditions are fulfilled;
(c) cancel the licensee's licence;
(d) impose restrictions or conditions on the licensee's licence or vary any restrictions or conditions applicable to the licence;
(e) require the licensee to cease or to carry out any specified activity related to the licensee's real estate business;
(f) require the licensee to enroll in and complete a course of studies or training specified in the order;
(g) prohibit the licensee from applying for a licence for a specified period of time or until specified conditions are fulfilled;
(h) require the licensee to pay amounts in accordance with section 44 (1) and (2) [recovery of enforcement expenses];
(i) require the licensee to pay a discipline penalty in an amount of
(i) not more than $20 000, in the case of a brokerage or former brokerage, or
(ii) not more than $10 000, in any other case.
(3) An order under subsection (2) may provide that,
(a) if the licensee fails to comply with the order, or
(b) if the licensee fails to comply with one or more specified restrictions or conditions of the licensee's licence,
a discipline committee may suspend or cancel the licence under subsection (4).
(4) If the licensee fails to comply as specified by a provision under subsection (3), a discipline committee may, by order, suspend or cancel the licensee's licence, as applicable, without the need for giving the licensee further notice or the opportunity to be heard.
(5) A discipline committee may, by order, on the application of or with the consent of the licensee subject to the order, vary or rescind an order made under this section.
44 (1) A discipline committee may, by an order under section 43 (2) (h) [recovery of enforcement expenses], require the licensee to pay the expenses, or part of the expenses, incurred by the real estate council in relation to either or both of the investigation and the discipline hearing to which the order relates.
(2) Amounts ordered as referred to in subsection (1)
(a) must not exceed the applicable limit prescribed by regulation in relation to the type of expenses to which they relate, and
(b) may include the remuneration expenses incurred in relation to employees, officers or agents of the real estate council, or members of the discipline committee, engaged in the investigation or discipline hearing.
(3) Money received by the real estate council on account of a discipline penalty under section 43 (2) (i) [discipline penalties] may be expended by the real estate council only for the purpose of educating the public, and licensees and other participants in the real estate industry in British Columbia, about
(a) the operation and regulation of the industry, and
(b) issues related to real estate and real estate services.
(4) An amount ordered to be paid under section 43 (2) (h) or (i) is a debt owing to the real estate council and may be recovered as such.
45 (1) A discipline committee may act under this section if the committee considers that
(a) there has been conduct in respect of which a discipline committee could make an order under section 43 [discipline orders] against a licensee,
(b) the length of time that would be required to complete an investigation or hold a discipline hearing, or both, in order to make such an order would be detrimental to the public interest, and
(c) it is in the public interest to make an order under this section against the licensee.
(2) If the circumstances referred to in subsection (1) apply, the discipline committee may, by order, do one or more of the following:
(a) suspend the licensee's licence;
(b) impose restrictions or conditions on the licensee's licence or vary any restrictions or conditions applicable to the licence;
(c) require the licensee to cease or to carry out any specified activity related to the licensee's real estate business.
(3) Despite any other provision of this Division, a discipline committee may make an order under subsection (2)
(a) whether or not notice of a discipline hearing has been issued under section 40 [notice of discipline hearing],
(b) without giving notice to the licensee, and
(c) without providing the licensee an opportunity to be heard.
(4) A discipline committee may, by order,
(a) on its own initiative, rescind an order under this section, or
(b) on the application of or with the consent of the licensee subject to the order, vary or rescind an order made under this section.
(5) Promptly after an order under subsection (2) is made, the real estate council must give to the licensee
(a) a copy of the order and written reasons for it, and
(b) written notice that a discipline hearing may be held respecting the matter.
(6) Without affecting the authority of the real estate council to initiate a discipline hearing, a licensee who is the subject of an order under subsection (2) may require a discipline hearing to be held by delivering written notice to the real estate council.
(7) Within a reasonable time after receiving a written notice under subsection (6), the real estate council must issue a notice under section 40 [notice of discipline hearing], subject to the difference that the time for issuing the notice is at least 14 days before the time set for the discipline hearing, rather than 21 days, unless the licensee agrees to a shorter period.
(8) After a discipline hearing respecting a licensee who is subject to an order under this section, the discipline committee must
(a) rescind the order under this section and make an order under section 43 [discipline orders], if it determines that the licensee has committed professional misconduct or conduct unbecoming a licensee, or
(b) in any other case, rescind the order under this section.
46 (1) If it considers this to be in the public interest, a discipline committee may make an order under this section at the same time that, or at any time after, an order under section 43 [discipline orders] or 45 [orders in urgent circumstances] is made against a licensee.
(2) If subsection (1) applies, the discipline committee may, by order directed to the licensee, do either or both of the following:
(a) prohibit the licensee from withdrawing any of the licensee's property, or any of it identified in the order, from the possession of another person named in the order who has the property on deposit, under control or for safekeeping;
(b) require the licensee to hold all property, or any of it identified in the order, that is in the licensee's possession or control in trust for
(i) a receiver or receiver manager who has been appointed, or whose appointment has been or is to be applied for, under section 59 [court order for appointment of receiver], or
(ii) a custodian, trustee, receiver manager, receiver or liquidator who has been appointed, or whose appointment has been applied for, under any other enactment.
(3) If subsection (1) applies, the discipline committee may, by order, require a person having in British Columbia, on deposit, under control or for safekeeping, any property of the licensee to hold all of that property, or any of it identified in the order.
(4) An order under this section may be made without advance notice to a person affected by the order but, promptly after making the order, the discipline committee must give a copy of the order to the person to whom it is directed.
(5) A discipline committee may, by order, vary or rescind an order under this section on its own initiative or on the application of a person affected by the order.
(6) Property affected by an order under this section continues to be affected by the order and remains frozen as provided in the order until the property is released under subsection (5) or is dealt with in accordance with a court order.
(7) If a savings institution is the holder of property described in subsection (3), the order applies only to the offices, branches or agencies of the savings institution that are specified in the order.
(8) If
(a) a person to whom an order under subsection (3) is directed is uncertain respecting the application of the order to any property, or
(b) a claim is made to the property by a person not named in the order,
the person may, on giving notice to the real estate council, apply to the Supreme Court for an order under subsection (9).
(9) On an application under subsection (8), the court may order the disposition of the property as it considers appropriate.
47 (1) As soon as practicable, the real estate council must
(a) subject to the regulations, publish a copy of each order under this Division, and
(b) provide a copy of each order under this Division to the superintendent.
(2) The real estate council must provide a copy of an order required to be published under subsection (1) (a) to any person requesting the copy, on payment of a reasonable fee as established by bylaw.
(3) The real estate council may publish a copy of any order that is required to be published by the superintendent under section 53 (1) (a) [publication of regulatory action].
Division 3 — Authority of Superintendent
48 (1) The superintendent may conduct an investigation to determine whether
(a) a person who does not hold a licence has engaged in any activity for which a licence under this Act is required, or
(b) a licensee has, in a way that is seriously detrimental to the public interest,
(i) contravened this Act, the regulations or the rules,
(ii) breached a restriction or condition of their licence, or
(iii) done anything that constitutes wrongful taking or deceptive dealing.
(2) Subject to subsection (3), the superintendent may issue a notice of hearing and conduct a hearing following an investigation under subsection (1).
(3) In relation to an investigation under subsection (1) (b),
(a) the superintendent must notify the real estate council before issuing a notice of hearing, and
(b) the superintendent may issue the notice of hearing only if
(i) no notice under section 40 [notice of discipline hearing] has been issued by the real estate council, and
(ii) no order under section 45 [orders in urgent circumstances] has been made by a discipline committee.
(4) The following provisions of this Part apply to the superintendent acting under this Division, in relation to an unlicensed person or a licensee, as if the superintendent were the real estate council or a discipline committee exercising authority under the applicable provision in relation to a licensee:
(a) section 37 [investigations];
(b) section 38 [court order for search and seizure];
(c) section 40 [notice of discipline hearing];
(d) section 41 [consent orders], in relation to orders that the superintendent may make under section 49 [orders respecting unlicensed activity] or 50 [orders against licensees in the public interest];
(e) section 42 [discipline hearings];
(f) section 46 [orders to freeze property].
49 (1) This section applies if, after a hearing under section 48 (2) [superintendent hearings], the superintendent determines that the person subject to the hearing did not hold a licence under this Act at a time when the person engaged in any activity for which such a licence was required.
(2) The superintendent may, by order, do one or more of the following with respect to a person referred to in subsection (1):
(a) require the person to cease the activity;
(b) require the person to carry out specified actions that the superintendent considers necessary to remedy the situation;
(c) require the person to pay amounts in accordance with section 44 (1) and (2) [recovery of enforcement expenses];
(d) require the person to pay a penalty in an amount of
(i) not more than $20 000, in the case of a corporation or partnership, or
(ii) not more than $10 000, in the case of an individual.
(3) The superintendent may, by order, on the application of or with the consent of the person subject to the order, vary or rescind an order made under this section.
50 (1) This section applies if, after a hearing under section 48 (2) [superintendent hearings], the superintendent determines that a licensee has, in a way that the superintendent considers is seriously detrimental to the public interest,
(a) contravened this Act, the regulations or the rules,
(b) breached a restriction or condition of their licence, or
(c) done anything that constitutes wrongful taking or deceptive dealing.
(2) In the circumstances referred to in subsection (1), the superintendent may, by order, do one or more of the following:
(a) suspend the licensee's licence for the period of time the superintendent considers appropriate or until specified conditions are fulfilled;
(b) cancel the licensee's licence;
(c) impose restrictions or conditions on the licensee's licence or vary any restrictions or conditions applicable to the licence;
(d) require the licensee to cease or to carry out any specified activity related to the licensee's real estate business;
(e) require the licensee to pay amounts in accordance with section 44 (1) and (2) [recovery of enforcement expenses];
(f) require the licensee to pay a penalty in an amount of
(i) not more than $20 000, in the case of a brokerage or former brokerage, or
(ii) not more than $10 000, in any other case.
(3) The superintendent may, by order, on the application of or with the consent of the licensee subject to the order, vary or rescind an order made under this section.
51 (1) The superintendent may act under this section if the superintendent considers that
(a) there has been conduct in respect of which the superintendent could make an order under section 49 [orders respecting unlicensed activity] or 50 [orders against licensees in the public interest], and
(b) the length of time that would be required to complete an investigation or hold a hearing, or both, in order to make such an order would be detrimental to the public interest.
(2) If the circumstances referred to in subsection (1) apply,
(a) in relation to a person referred to in section 49 [orders respecting unlicensed activity], the superintendent may make an order as referred to in subsection (2) (a) and (b) of that section, and
(b) in relation to a licensee, the superintendent may make an order as referred to in section 45 (2) [discipline committee orders in urgent circumstances].
(3) Section 45 [discipline committee orders in urgent circumstances] applies in relation to the superintendent's authority under this section as if the superintendent were a discipline committee or the real estate council acting in respect of a licensee.
52 (1) If the superintendent considers that a person has failed to comply with an order of the superintendent under this Division, the superintendent may file a certified copy of the order with the Supreme Court.
(2) An order filed under subsection (1) has the same force and effect, and all proceedings may be taken on it, as if it were an order of the Supreme Court.
53 (1) As soon as practicable, the superintendent must
(a) subject to the regulations, publish each order of the superintendent under this Division, and
(b) provide a copy of each order made by the superintendent under this Division to the real estate council.
(2) The superintendent must provide a copy of an order required to be published under subsection (1) (a) to any person requesting the copy, on payment of the prescribed fee.
Division 4 — Appeals to Financial Services Tribunal
54 (1) Appeals to the financial services tribunal may be made as follows:
(a) the applicant may appeal a refusal to issue a licence;
(b) the licensee affected may appeal the imposition of restrictions and conditions on a licence under section 15 (2) (a) [conditions and restrictions in relation to a specific licence — issuance or renewal];
(c) the licensee affected may appeal the cancellation or suspension of a licence under section 24 [cancellation or suspension if qualifications not met];
(d) the person subject to the order, or the superintendent, may appeal an order of a discipline committee under Division 2 [Discipline Proceedings] of this Part;
(e) the person subject to the order may appeal an order of the superintendent under Division 3 [Authority of Superintendent] of this Part.
(2) The real estate council is entitled to be a party to an appeal under subsection (1) (a) to (d).
(3) The superintendent is entitled to be a party to an appeal under subsection (1) (d) or (e).
(4) Subject to this Division, sections 242.2 [practice and procedure] and 242.3 [judicial review] of the Financial Institutions Act apply in relation to an appeal under this section.
55 (1) An order
(a) of a discipline committee under section 45 [orders in urgent circumstances] or 46 [orders to freeze property], or
(b) of the superintendent under Division 3 [Authority of Superintendent] of this Part
is not stayed by the filing of a notice of appeal under section 54 [appeals] and may not be stayed under section 242.2 (10) (a) (i) [tribunal member hearing appeal may stay order] of the Financial Institutions Act.
(2) An appealable decision, other than one referred to in subsection (1), is stayed by the filing of a notice of appeal under section 54 [appeals], but the stay may be lifted under section 242.2 (10) (a) (ii) [tribunal member hearing appeal may lift stay] of the Financial Institutions Act.
Division 5 — Administrative Penalties
56 (1) The Lieutenant Governor in Council may, by regulation,
(a) designate contraventions of specified rules as being subject to administrative penalties under this Division, and
(b) set the maximum amount of administrative penalty that may be established under subsection (2), which may be a different maximum for different specified rules.
(2) The real estate council may, by rule, establish the amount of administrative penalty that may be imposed in respect of each contravention of a specified rule, which may be
(a) different for different levels or categories of licence, and
(b) different for first and subsequent contraventions.
57 (1) If the real estate council is satisfied that a licensee has contravened a rule that has been designated under section 56 (1) (a) [designated contraventions], the real estate council may issue a notice imposing on the licensee an administrative penalty in the amount established under subsection (2) of that section.
(2) The notice under subsection (1) must do the following:
(a) indicate the rule that has been contravened;
(b) indicate the amount of the administrative penalty that is imposed;
(c) advise the licensee of the licensee's right to be heard respecting the matter;
(d) advise the licensee that, if the licensee does not, within 14 days or a longer period allowed by the real estate council, request such an opportunity to be heard,
(i) the licensee is deemed to have acknowledged contravening the rule, and
(ii) the administrative penalty becomes due and payable to the real estate council.
(3) Notice under subsection (1) must be given as follows:
(a) in the case of notice to a current licensee, by personal service or by delivery in accordance with the rules;
(b) in the case of notice to a former licensee, by personal service;
(c) as an alternative in any case, in accordance with an order under section 125 [substituted service].
(4) The real estate council must provide the licensee with an opportunity to be heard if this is requested and, following the opportunity, may
(a) cancel the administrative penalty if it is satisfied that the licensee exercised due diligence to prevent contravention of the rule, or
(b) confirm the administrative penalty, in which case it becomes due and payable to the real estate council.
(5) The amount of an administrative penalty imposed under this section is a debt owing to the real estate council and may be recovered as such.
(6) Money received by the real estate council on account of administrative penalties under this section may be expended by the real estate council only for an educational purpose referred to in section 44 (3) [use of discipline penalty money].
(7) If an administrative penalty has been imposed under this section,
(a) no further proceedings may be taken under this Part in respect of the matter, other than to enforce payment of the penalty, and
(b) without the consent of the licensee, the fact that the penalty has been imposed may not be used
(i) in any proceeding under this Act with respect to the matter, other than as referred to in paragraph (a), or
(ii) in any civil proceeding with respect to the matter.
Division 6 — Applications to Court
58 (1) The real estate council or superintendent may apply to the Supreme Court for an injunction restraining a person from contravening, or requiring a person to comply with,
(a) this Act, the regulations, the rules or the bylaws, or
(b) an order of a discipline committee or the superintendent under this Part.
(2) The court may grant an injunction sought under subsection (1) if the court is satisfied that there is reason to believe there has been or will be a contravention of this Act, the regulations, the rules, the bylaws or an order referred to in that subsection.
(3) The court may grant an interim injunction until the outcome of an application under subsection (1).
59 (1) If
(a) an order has been made under section 43 [discipline orders] or 50 [superintendent orders in the public interest] cancelling a licence, or
(b) an order has been made by a discipline committee or the superintendent under section 45 or 51 [orders in urgent circumstances] cancelling or suspending a licence,
the real estate council or superintendent, as applicable, may apply to the Supreme Court for the appointment of a receiver or receiver manager of all or any part of the property of the licensee.
(2) On an application under subsection (1), if the court is satisfied that the appointment of a receiver or receiver manager is in the best interests of
(a) the creditors of the licensee,
(b) persons from, for or on whose behalf the licensee has received money or other property in respect of real estate services, or
(c) other persons, any of whose property is in the possession or under the control of the licensee,
the court may, by order, appoint a receiver or receiver manager of all or any part of the property of that licensee.
(3) An application under subsection (1) may be made without notice to any other person, in which case the court may make a temporary order under subsection (2) appointing a receiver or receiver manager for a period not longer than 15 days.
(4) A receiver or receiver manager appointed under this section
(a) is the receiver or receiver manager of all or any part of the property that is subject to the court order, and
(b) if authorized by the court, may wind up or manage the business and affairs of the licensee and exercise powers necessary or incidental to the winding up or management.