Acts and Regulations

C-16.05 - Condominium Property Act

Section 61
Disposition versions

Full text
Administrative penalties
61(1)A corporation shall be liable to pay an administrative penalty of not less than $1,000 and not more than $10,000, as provided for in the regulations, if within 30 days after receiving a notice from the Director requiring it to comply, the corporation fails to
(a) file a financial statement with the Director under section 34,
(b) submit a reserve fund study to the Director under section 40, or
(c) submit proof of insurance to the Director under section 50.
61(2)A notice given under subsection (1) shall be given in the manner provided for in the regulations.
61(3)An administrative penalty shall be paid to Service New Brunswick.
61(4)Service New Brunswick may sue for and recover the administrative penalty in an action in any court as if the amount were a debt.
61(5)The Director may waive an administrative penalty that a corporation would otherwise be liable to pay under this section in the circumstances prescribed by regulation.
Administrative penalties
61(1)A corporation shall be liable to pay an administrative penalty of not less than $1,000 and not more than $10,000, as provided for in the regulations, if within 30 days after receiving a notice from the Director requiring it to comply, the corporation fails to
(a) file a financial statement with the Director under section 34,
(b) submit a reserve fund study to the Director under section 40, or
(c) submit proof of insurance to the Director under section 50.
61(2)A notice given under subsection (1) shall be given in the manner provided for in the regulations.
61(3)An administrative penalty shall be paid to Service New Brunswick.
61(4)Service New Brunswick may sue for and recover the administrative penalty in an action in any court as if the amount were a debt.
61(5)The Director may waive an administrative penalty that a corporation would otherwise be liable to pay under this section in the circumstances prescribed by regulation.