Disclosure Of Management Of Strata Corporation By Licensee Who Is An Owner Form Page 2

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DISCLOSURE OF MANAGEMENT
OF STRATA CORPORATION BY
LICENSEE WHO IS AN OWNER
COUNCIL RULES, SECTION 9-3
Management of strata corporation by licensee who is an owner
9-3 (1) Subject to this section, the Act and these rules do not apply to an individual licensed as a managing broker, associate broker
or representative who is a strata lot owner in relation to strata management services provided to or on behalf of the strata corporation
of which the licensee is a member by reason of being a strata lot owner, if all the following conditions are met:
(a) the licensee provides strata management services under this section to no more than 2 strata corporations;
(b) the licensee discloses in writing to the strata corporation, before providing the services, that
(i) even though they are licensed under the Real Estate Services Act, they are not acting as a licensee in this case,
(ii) the licensee is not regulated under the Real Estate Services Act in relation to the strata management services,
and
(iii) the strata corporation is not entitled to the same protections applicable under the Real Estate Services Act to
persons who deal with licensees who are not acting under this section of the rules;
(c) the licensee provides a copy of the written disclosure under paragraph (b) to the managing broker of the related
brokerage;
(d) the licensee does not have sole signing authority for withdrawals of any funds of the strata corporation and does not
otherwise have sole authority for expenditures of any funds of the strata corporation;
(e) the strata management services are not provided for or in expectation of remuneration.
(2) On receipt of any strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata
Property Act, the licensee must promptly deliver the money to the strata corporation.
(3) Part 4 [Discipline Proceedings and Other Regulatory Enforcement] of the Act applies in relation to a contravention of subsection
(2).
A COPY OF THIS DISCLOSURE MUST BE PROVIDED TO THE MANAGING BROKER OF THE LICENSEE’S RELATED BROKERAGE.
Disclosure of Management of Strata Corporation by Licensee who is an Owner
(Rev 03/2015)
2

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