4(1)No licence shall be issued to an agent unless

4(2)For the purposes of paragraph (1)(a), if an agent is a corporation, the following individuals shall meet the qualification requirements established by or in accordance with the regulations:

6(1)No licence shall be issued to a manager unless

6(2)A manager’s licence shall be valid only while the manager is acting as a manager employed by and representing the agent making the declaration referred to in paragraph (1)(c), and the termination of the employment of the manager with that agent shall operate as a cancellation of the manager’s licence.

8(1)A manager shall not

8(2)Despite subsection (1), if the Director is satisfied that it is not contrary to the public interest and subject to the terms and conditions the Director may impose, the Director may permit a manager

9(1)No licence shall be issued to a salesperson unless

9(2)A salesperson’s licence shall be valid only while the salesperson is acting as a salesperson employed by and representing the agent making the declaration referred to in paragraph (1)(c), and the termination of the employment of the salesperson with that agent shall operate as a cancellation of the salesperson’s licence.

10(1)On receipt of an application for a licence and on payment of the prescribed fee, if the Director is satisfied that the applicant is suitable to be licensed and that the issuing of the proposed licence is not objectionable for any reason, the Director may issue to the applicant a licence authorizing the holder during the term of the licence to carry on the business of an agent or act as a manager or salesperson within the Province, but if, after due investigation made by the Director, the Director is, for any reason, of the opinion that the applicant should not be granted a licence, the Director may refuse a licence to the applicant.

10(1.1)The Director may at any time restrict a licence by imposing any terms and conditions that he or she considers appropriate on the licence.

10(1.2)A licensee shall comply with the terms and conditions imposed by the Director on the licence.

10(1.3)The Director shall not refuse an application for a licence or impose terms and conditions on the licence without giving the applicant or licensee an opportunity to be heard.

10(2)The Director may suspend or cancel a licence if he or she is of the opinion it is in the public interest to do so.

10(2.1)The Director shall not suspend or cancel a licence without giving the licensee an opportunity to be heard.

10(3)When the licence of an agent is suspended or cancelled, the licences of all salespersons and managers of the agent are also suspended or cancelled.

10(4)The licence of an agent and of every manager and salesperson of that agent expires on the last day of the twelfth month following the issuance of the agent’s licence.

10(5)No person whose licence has been cancelled because of the person’s misconduct shall be entitled to apply for a new licence for one year after the cancellation.

10(6)A person dissatisfied with a decision of the Director under this section may appeal the decision to the Tribunal within 30 days after the date of the decision.

10(6.1)Despite subsection (6), the Tribunal may extend the period for appealing a decision, before or after the expiration of the time, if it is satisfied that there are reasonable grounds for an extension.

10(7)When a licence has been suspended or cancelled by or under this Act, the holder of the licence shall return the licence without delay to the Director.

11(1)An application for a licence shall be made in writing on the form provided by the Director and shall be accompanied by the prescribed fee.

11(2)Before issuing a licence, the Director may make the inquiries and require the information that the Director considers desirable and shall require the furnishing of the security or proof of financial responsibility that is prescribed by regulation.

11(3)An application for a licence shall be accompanied by a bond in the amount and form, subject to the provisions of section 31, that may be prescribed, or a certificate of a surety company that a surety bond previously filed on behalf of the applicant is in full force and effect.

13(1)An applicant or licensee may change the applicant’s or licensee’s address for legal service by delivering written notice to the Director of the applicant’s or licensee’s new address for legal service.

13(2)A notice under this Act or the regulations shall be deemed to be served for all purposes if delivered or sent by registered or certified mail to the latest address for legal service provided by the applicant or licensee.

15(1)An agent shall notify the Director without delay in writing of the following:

15(2)A salesperson, manager or official of an agent and, in the case of a corporate manager or salesperson, its nominee, shall notify the Director without delay in writing of the following:

16(1)Despite paragraph 4(1)(a), when a licensed agent who is an individual dies or becomes incapacitated, on receipt of an application for a licence and on payment of the prescribed fee, the Director may issue a temporary agent’s licence to a person who, in the opinion of the Director, is qualified to act as an agent.

16(2)The licence issued under subsection (1) shall be for a term of not more than six months and shall authorize the holder to carry on the business of an agent only in relation to the trading in real estate of the deceased or incapacitated agent.

16(3)Despite any other provision of this Act, when a licence is issued under subsection (1), a salesperson licensed as a salesperson under this Act who was employed by the deceased or incapacitated agent at the time of the death or incapacitation of the agent shall be deemed to be licensed as a salesperson under this Act and to be employed by and to represent the agent who is issued the temporary agent’s licence under subsection (1) for the period for which the temporary licence is issued except that termination of the employment of the salesperson with the agent who is issued the temporary agent’s licence under subsection (1) shall operate as a cancellation of the salesperson’s licence.

16(4)Despite any other provision of this Act, when a licence is issued under subsection (1), a manager licensed as a manager under this Act who was employed by the deceased or incapacitated agent at the time of the death or incapacitation of the agent shall be deemed to be licensed as a manager under this Act and to be employed by and to represent the agent who is issued the temporary agent’s licence under subsection (1) for the period for which the temporary licence is issued except that termination of the employment of the manager with the agent who is issued the temporary agent’s licence under subsection (1) shall operate as a cancellation of the manager’s licence.

17(1)Despite paragraph 6(1)(a), when a licensed manager who is an individual dies or becomes incapacitated, on receipt of an application for a licence and on payment of the prescribed fee, the Director may issue a temporary manager’s licence to a person who, in the opinion of the Director, is qualified to act as a manager.

17(2)The licence issued under subsection (1) shall be for a term of not more than six months and shall authorize the holder to act as a manager of the agent who has filed a declaration under paragraph 6(1)(c) in respect of the deceased or incapacitated manager.

18(1)An agent shall have at least one interest bearing account for deposits

18(2)An account under subsection (1) shall be designated as a trust account both in the books of the agent and in the records of the institution.

19(1)Subject to subsection (2), an agent shall pay without delay into the agent’s trust account all money received in connection with a trade other than money which belongs to the agent.

19(2)When an agent receives a cheque as a deposit with an offer, the agent shall not be required to place the cheque into the agent’s trust account before the offer is accepted, but the agent shall place the cheque into the agent’s trust account without delay on the acceptance of the offer.

19(3)Subject to subsection (4), no agent shall pay into the agent’s trust account any money which belongs to the agent.

19(4)When an agent receives money representing in part money belonging to another person and in part money due to the agent, if practicable, the agent may divide the money and pay into the trust account only that part which belongs to the other person, but otherwise the agent shall pay the whole of the money into the trust account.

20(1)No money shall be drawn from a trust account except in accordance with the terms on which it was received.

20(2)If an agent’s licence is suspended or cancelled under this Act, the Director may order the institution in which the agent’s trust account is held to refrain from paying out all or any part of the money in the account for the period of the suspension or cancellation.

21(1)Subject to subsection (3), an agent who receives a deposit on a trade in real estate shall hold it as trustee on behalf of all the parties to the trade in accordance with their respective rights under the offer or contract and not as agent for any one of them, and the agent shall have the responsibility to pay or account for it to the proper party.

21(2)In the event of a dispute between the parties in respect of a deposit under subsection (1), the agent may, and if it is necessary to resolve the dispute the agent shall, pay the deposit into court on an interpleader.

21(3)Despite subsection (1), an agent may receive a deposit as agent for one party to a trade in real estate if the offer or contract under which the deposit is received so provides and every other party acknowledges this provision in writing, either in a separate document or in a separate part of the offer or contract.

22(1)Despite section 21, in the event of a dispute between the parties in respect of a deposit referred to in subsection 21(1) and with the agreement of the parties, the agent who receives the deposit may apply to the Director to resolve the dispute between the parties.

22(2)On receipt of an application under subsection (1), the Director may conduct a hearing to determine the rights of the parties in respect of the deposit.

22(3)An application under subsection (1) shall

22(4)The Director shall determine the rights of the parties in respect of the deposit and shall direct the disposition of the deposit as between the parties.

22(5)If a party is dissatisfied with the decision of the Director under subsection (4), the party may appeal the decision to the Tribunal within 30 days after the date of the decision.

22(5.1)Despite subsection (5), the Tribunal may extend the period for appealing a decision, before or after the expiration of the time, if it is satisfied that there are reasonable grounds for an extension.

22(7)The written decision of the Director shall be sent to the parties by ordinary mail and shall be deemed to have been received by the parties within seven days after the decision was mailed.

22(9)This section applies to deposits that do not exceed an amount prescribed by regulation.

25(1)Subject to subsection (4), a person who is licensed as an agent under this Act and holds funds in trust or on account of any or all of the parties to a trade shall instruct the depository to remit all the interest earned on the funds to the Association at the times during the year that shall be determined by the Association, but not less frequently than semi-annually.

25(2)All interest on an account referred to in subsection (1) is the property of the Association and is recoverable as a debt owing to the Association.

25(3)Subject to subsection (4), an agent who deposits funds under this section shall not be required to account to any party except the Association for the interest earned on money deposited under this section.

25(4)Despite anything in this section, on the written instructions of all parties to a trade, an agent may hold a deposit received on the trade in a separate interest bearing trust account and, if the agent is so instructed, the agent shall pay the interest on the account in accordance with the written instructions.

25(5)Any written instructions referred to in subsection (4) shall be acknowledged separately and shall state the person to whom the interest is to be paid.

25(6)An agent who receives from a person money which the agent is required to deposit in trust, or which the agent is instructed by the person to hold in trust for that person, whenever the agent has reasonable grounds to believe that the money will not be required within 90 days, shall advise the person that the money may be deposited in a separate interest bearing trust account under subsection (4).

27(1)The Association shall inspect, examine or audit the books, records and accounts of agents in accordance with the regulations for the purpose of ensuring compliance with this Act and the regulations.

27(2)The Association shall ensure that the Director is provided with a copy of the results of an inspection, examination or audit conducted under subsection (1).

28(1)The Association may appoint in writing a person as an inspector for the purpose of ensuring compliance with this Act and the regulations.

28(2)The Association shall furnish every inspector with a certificate of the inspector’s appointment signed by the President of the Association and, on entering any place for the purposes of inspection, an inspector shall produce, on request, the certificate to the occupier of the place.

28(3)A certificate that purports to be an appointment under this section is admissible in evidence without proof of signature and is proof, in the absence of evidence to the contrary, that its holder has been duly appointed under subsection (1).

28(4)For the purpose of determining whether this Act and the regulations are being complied with, an inspector, in carrying out an inspection, may

28(4.1)In carrying out an inspection, an inspector may

28(4.2)An inspector may carry out an inspection within or outside the Province.

28(4.3)An inspector shall not enter a private dwelling under subsection (4) unless the inspector has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.

28(4.4)Before or after attempting to enter or to have access to any premises, an inspector may apply for an entry warrant under the Entry Warrants Act.

28(5)An inspector who removes books, records or accounts to make a copy or extract of them or any part of them shall give a receipt to the occupier of the premises for the books, records or accounts removed and return the books, records or accounts as soon as possible after the making of copies or extracts.

28(6)A copy or extract of any book, record or account related to an inspection and purporting to be certified by an inspector is admissible in evidence in any action, proceeding or prosecution and is proof, in the absence of evidence to the contrary, of the original without proof of the appointment, authority or signature of the person purporting to have certified the copy or extract.

29(1)No person shall obstruct or interfere with an inspector who is carrying out or attempting to carry out an inspection under this Act, or withhold, destroy, conceal, alter or refuse to produce any information or thing reasonably required by an inspector for the purposes of the inspection.

29(2)A refusal of consent to enter a private dwelling is not and shall not be considered to be interfering with or obstructing within the meaning of subsection (1), except if an entry warrant has been obtained.

29(3)No person shall knowingly make a false or misleading statement, either orally or in writing, to an inspector while the inspector is engaged in carrying out his or her duties under this Act or the regulations.

31(1)For the purposes of this section, “fraud” shall be deemed to include failure to maintain and operate a trust account in accordance with sections 18, 19 and 20.

31(2)The Director may declare a bond given under this Act forfeited in the following circumstances:

31(3)When the Director declares a bond forfeited under subsection (2), the amount of the bond is a debt due to the Commission, owing by the person bound by it.

31(4)The Director may not declare a bond forfeited under paragraph (2)(a) or (b) until after the conviction, judgment or order has been confirmed by the highest court to which an appeal may be taken or the period for appeal has expired.

31(5)A bond given under this Act shall be deemed to be in effect for a period of two years following the date on which the bond would otherwise terminate by lapse, expiry or cancellation, but liability under the bond is limited to acts or omissions before that date of the agent, salesperson or other person in respect of whose conduct the bond has been conditioned; and a clause to this effect shall be deemed to be inserted in every bond given for the purposes of this Act.

31(6)Despite any other provision of this Act, at no time shall the total liability of the insurer under the bond exceed the face value of the bond.

31(7)When new bonds have been issued by the same guarantor party on the expiry of previous bonds, all those bonds shall be deemed to be one continuing bond and the maximum amount for which the guarantor party shall be liable shall be the face value of the bond last issued on expiry of a previous bond.

31(8)The Tribunal may assign a bond forfeited under the provisions of this section or, subject to subsection (11), may pay over any money recovered under it to a person, or to the Registrar of the Court of King’s Bench, in trust for the persons who may become, in respect of claims arising out of trades in real estate, judgment creditors of the person so bonded, or to a trustee, custodian, interim receiver, receiver or liquidator of the judgment creditors, as the case may be; the assignment or payment over to be in accordance with and on conditions set out in the regulations or in a special order of the Tribunal.

31(9)If the Crown becomes a creditor of a person in respect of a debt to the Crown arising under this Act, the Minister of Finance and Treasury Board may take the proceedings that the Minister of Finance and Treasury Board considers fit under the Bankruptcy and Insolvency Act (Canada), the Judicature Act, the Companies Act, the Winding-up Act or the Winding-up and Restructuring Act (Canada) for the appointment of an interim receiver, custodian, trustee, receiver or liquidator, as the case may be.

31(10)If a bond has been forfeited under the provisions of subsection (2) by reason of a conviction or judgment under paragraph (2)(a) or (b) and, within two years after the conviction or judgment having become final or after the agent or salesperson in respect of whom the bond was furnished ceasing to carry on business as such, the Commission has not received notice in writing of a claim against the proceeds of the bond or of the portion of it that remains in the possession of the Commission, the Commission, subject to subsection (11), shall pay the proceeds or portion of the proceeds to a person who on forfeiture of the bond made payments under it.

31(11)If money has been recovered by the Commission under a bond forfeited under subsection (2), the Commission may deduct from that money and retain

33(1)Before deciding whether to grant or refuse an application for a licence of an agent, a manager or a salesperson, or to suspend or cancel an existing licence, or to reinstate a suspended or cancelled licence, the Director may refer any matter to the Association for its recommendation.

33(2)When a matter is referred to the Association under subsection (1), the Association may, and if requested by the Director or by a person affected shall, hold a hearing into the matter at which the person affected has a right to be heard and may be represented by counsel.

33(3)The Association may appoint a hearing committee of not less than three members of the Association to conduct a hearing under this section, and, for the purpose of conducting a hearing, the Association or the committee may exercise the powers of commissioners under the Inquiries Act.

33(4)The Association shall submit to the Director a report on its activities in relation to a matter referred to it under this section, together with its recommendation as to the granting, refusal, suspension, cancellation or reinstatement of the licence.

36(1)No person is bound by an agreement with an agent to list real estate for sale, exchange or lease

36(2)All commission or other remuneration payable to an agent in respect of the sale of real estate shall be on an agreed amount or percentage of the sale price; and if no agreement as to the amount of the commission has been entered into, the rate of commission or other basis or amount of remuneration shall be that generally prevailing in the community where the real estate is situated.

36(3)No agent, manager or salesperson shall request or enter into an agreement for the payment to the agent, manager or salesperson of a commission or other remuneration based on the difference between the price at which real estate is listed for sale and the actual sale price of it, and no agent, manager or salesperson is entitled to retain a commission or other remuneration so computed.

37(1)Subject to subsection (2), an agent is not entitled to a commission when real estate is sold, exchanged or leased after the expiry of a listing agreement.

37(2)When real estate is sold, exchanged or leased after the expiry of a listing agreement as a result of services performed by the agent before the expiry, the agent is entitled to recover the agent’s commission despite the expiry if the other conditions of the listing agreement have been satisfied and the owner knew that the real estate was sold, exchanged or leased as a result of the services performed by the agent.

37(3)If an agent is entitled to recover a commission under subsection (2), no other agent is entitled to a commission from the owner despite an agreement to the contrary.

38(2)For the purposes of this section, a person has a material interest

38(3)Except if subsection (4) applies, if an agent or an associate of an agent intends to acquire real estate or an interest in real estate, before either directly or indirectly acquiring or attempting to acquire an interest in the real estate, the agent or the associate shall disclose to the owner that the agent or the associate is an agent or an associate of an agent, as the case may be.

38(4)If an agent or an associate of the agent intends to acquire real estate or an interest in real estate and the owner has listed the real estate with the agent, or has discussed with the agent or the associate the listing of the real estate with the agent, before either directly or indirectly acquiring or attempting to acquire an interest in the real estate, that agent or that associate shall inform the owner that the owner is advised to obtain independent advice regarding the real estate and shall disclose to the owner

38(5)If an agent or an associate of an agent owns real estate or an interest in real estate, before selling an interest in the real estate, the agent or the associate shall disclose to the prospective purchaser

38(6)The disclosure required by subsections (3) and (5) shall be made in a separate written statement the receipt of which is acknowledged in writing by the owner or prospective purchaser, as the case may be.

38(7)The disclosure required by subsection (4) shall be made

38(8)If an agent or an associate is in breach of this section, the agent or the associate, as the case may be, is liable for any reasonably foreseeable loss that was caused by the breach.

40(1)No licensee shall make an arrangement with a barrister or solicitor for the referral of business to the barrister or solicitor in return for the payment of a finder’s fee or any other benefit.

40(2)No licensee shall refer a person to a lender with whom the licensee has an arrangement for the referral of business in return for the payment of a finder’s fee or any other benefit, unless before or at the time of making the referral the licensee discloses in writing to that person that the licensee has such an arrangement.

41(1)Subject to subsection (3), no agent shall advertise to promote a trade unless the advertisement clearly indicates

41(2)Subject to subsection (3), no salesperson, manager or official of an agent shall advertise to promote a trade unless the advertisement clearly indicates

41(3)Paragraphs (1)(b) and (2)(b) do not apply to a sign.

42(1)Subject to subsection (2), no licensee, as an inducement to purchase, sell, lease or exchange real estate, shall make a representation or promise that the licensee or any other person will

42(2)A licensee may make a representation or promise referred to in subsection (1) if, at the time of making the representation or promise, the person making it delivers to the person to whom the representation or promise is made a signed statement clearly setting out all the details of the representation or promise made.

43(1)As soon as practicable after receiving an offer in writing, an agent shall

43(2)As soon as practicable, after receiving an acceptance in writing, an agent shall

43.1(1)The following definition applies in this section.

43.1(2)An agent shall keep the following records:

43.1(3)In addition to the records required to be kept under subsection (2), an agent shall keep books, records and accounts that are necessary for the proper recording of the agent’s business and affairs and any other books, records and accounts that are otherwise required under this Act or the regulations.

43.1(4)An agent shall ensure that the books, records and accounts required to be kept under subsection (2) or (3) show and readily distinguish

43.1(5)An agent shall keep the books, records and accounts at a safe location and in a durable form.

43.1(6)An agent shall retain the books, records and accounts for a minimum period of seven years after the date of the transaction or trade to which the books, records or accounts relate.

43.1(7)An agent shall deliver to the Director, or to any other employee of the Commission, at any time that the Director or other employee requires

43.11(1)No licensee shall make any false, misleading or deceptive statements in any advertisement, circular, pamphlet or similar material prepared or used in respect of a regulated activity.

43.11(2)If, in the opinion of the Director, a licensee has made a false, misleading or deceptive statement in any advertisement, circular, pamphlet or similar material referred to in subsection (1), the Director may order the licensee to stop using that material immediately.

43.12(1)The Commission may appoint in writing a person as a compliance officer for the purpose of ensuring compliance with this Act and the regulations.

43.12(2)The Commission shall issue to every compliance officer a certificate of appointment and every compliance officer, in the execution of his or her duties under this Act or the regulations, shall produce his or her certificate of appointment on request.

43.12(3)For the purpose of determining whether this Act and the regulations are being complied with, a compliance officer, in carrying out a compliance review, may

43.12(4)In carrying out a compliance review, a compliance officer may

43.12(5)A compliance officer may carry out a compliance review within or outside the Province.

43.12(6)A compliance officer shall not enter a private dwelling under subsection (3) unless the compliance officer has the consent of the occupier or has obtained an entry warrant under the Entry Warrants Act.

43.12(7)Before or after attempting to enter or to have access to any premises, a compliance officer may apply for an entry warrant under the Entry Warrants Act.

43.12(8)The Commission may, in prescribed circumstances, require an agent in respect of whom a compliance review was carried out to pay the Commission any prescribed fee and to reimburse the Commission for any prescribed expenses.

43.2(1)A compliance officer who removes books, records or accounts to make a copy or extract of them or any part of them shall give a receipt to the occupier of the premises for the books, records or accounts removed and return the books, records or accounts as soon as possible after the making of copies or extracts.

43.2(2)A copy or extract of any book, record or account related to a compliance review and purporting to be certified by a compliance officer is admissible in evidence in any action, proceeding or prosecution and is proof, in the absence of evidence to the contrary, of the original without proof of the appointment, authority or signature of the person purporting to have certified the copy or extract.

43.22(1)No person shall obstruct or interfere with a compliance officer who is carrying out or attempting to carry out a compliance review under this Act, or withhold, destroy, conceal, alter or refuse to produce any information or thing reasonably required by a compliance officer for the purposes of the compliance review.

43.22(2)A refusal of consent to enter a private dwelling is not and shall not be considered to be interfering with or obstructing within the meaning of subsection (1), except if an entry warrant has been obtained.

43.3(1)The Director may make an order under subsection (2)

43.3(2)By an order applicable generally or to one or more persons named or otherwise described in the order, the Director may require any of the following persons to provide information or to produce books, records or accounts or classes of books, records or accounts specified or otherwise described in the order within the time or at the intervals specified in the order:

43.3(3)The Director may require that the authenticity, accuracy or completeness of information provided or of a book, record or account or a class of books, records or accounts produced pursuant to an order under subsection (2) be verified by affidavit.

43.3(4)The Director may require that the information provided or that the books, records or accounts or classes of books, records or accounts produced pursuant to an order made under subsection (2) be delivered in electronic form, if the information or the books, records or accounts or classes of books, records or accounts are already available in that form.

43.31(1)The Commission may, by order, appoint a person as an investigator to make any investigation that the Commission considers expedient

43.31(2)In its order, the Commission shall specify the scope of an investigation to be carried out under subsection (1).

43.32(1)An investigator may, with respect to the person who is the subject of the investigation, investigate, inspect and examine

43.32(2)For the purposes of an investigation under this Act, an investigator may inspect and examine any book, record, account or thing, whether in possession or control of the person in respect of whom the investigation is ordered or any other person.

43.32(3)An investigator making an investigation under this Act may, on production of the order appointing him or her,

43.32(4)Inspection or examination under this section shall be completed as soon as possible and the books, records, accounts or things shall be returned promptly to the person who produced them.

43.32(5)No person shall withhold, destroy, conceal, alter or refuse to give any information or withhold, destroy, conceal, alter or refuse to produce any book, record, account or thing reasonably required under subsection (3) by an investigator.

43.4(1)An investigator making an investigation under this Act has the same power to summon and enforce the attendance of witnesses, to compel witnesses to give evidence under oath or in any other manner and to compel witnesses to produce books, records, accounts and things or classes of books, records, accounts and things as the Court of King’s Bench has for the trial of civil actions.

43.4(2)On the application of an investigator to the Court of King’s Bench, the failure or refusal of a person to attend, to take an oath, to answer questions or to produce books, records, accounts and things or classes of books, records, accounts and things in the custody, possession or control of the person makes the person liable to be committed for contempt as if in breach of an order or judgment of the Court of King’s Bench.

43.4(3)A person giving evidence at an investigation conducted under this section may be represented by legal counsel.

43.4(4)Testimony given by a person under this section shall not be admitted into evidence against that person in any prosecution other than for perjury in the giving of that testimony or the giving of evidence contradictory to that testimony.

43.42(1)On request to the investigator by the person who, at the time of the seizure, was in lawful possession of books, records, accounts or things seized under this Act, the books, records, accounts or things seized shall, at a time and place mutually convenient to the person who was in lawful possession of them at the time of the seizure and the investigator, be made available for consultation and copying by the person.

43.42(2)If books, records, accounts or things are seized under this Act and the matter for which the books, records, accounts or things were seized is concluded, the investigator shall return those books, records, accounts or things to the person who was in lawful possession of them at the time of the seizure within 60 days after the day that the matter is concluded.

43.42(3)If books, records, accounts or things are seized under this Act and the person who was in lawful possession of the books, records, accounts or things at the time of the seizure alleges that the books, records, accounts or things are not relevant in respect of the matter for which they were seized, that person may apply by notice of motion to the Court of King’s Bench for the return of the books, records, accounts or things.

43.42(4)On a motion under subsection (3), the Court of King’s Bench shall order the return of any books, records, accounts or things that it determines are not relevant to the matter for which they were seized to the person who was in lawful possession of the books, records, accounts or things at the time of the seizure.

43.5(1)If an investigation has been made under this Act, the investigator shall, at the request of the Commission, provide a report of the investigation to the Commission or any transcripts of evidence or any material or other things in the investigator’s possession relating to the investigation.

43.5(2)A report that is provided to the Commission under this section is privileged and is inadmissible in evidence in any action or proceeding.

43.51(1)For the purpose of protecting the integrity of an investigation under this Act, the Commission may make an order that applies for the duration of the investigation, prohibiting a person from disclosing to any person other than the person’s lawyer the following information:

43.51(2)An order under subsection (1) does not apply to disclosures authorized by the regulations or by the Director in writing.

43.51(3)An investigator making an investigation under this Act may make, or authorize the making of, any disclosure of information that may be required for the effectual conduct of the investigation.

43.6(1)A person who does any of the following commits an offence, and is liable on conviction, for each offence, if an individual, to a fine of not more than $50,000 or to imprisonment for a term of not more than one year, or to both, and if a person other than an individual, to a fine of not more than $250,000:

43.6(2)Without limiting the availability of other defences, no person commits an offence under paragraph (1)(a) or (b) if

43.62(1)On the application of the Commission, the Tribunal may make one or more of the following orders if the Tribunal considers it expedient for the administration of this Act or the regulations or to assist in the administration of similar legislation of another jurisdiction:

43.62(2)An order under subsection (1) that names a financial institution shall apply only to the branches of the financial institution identified in the order.

43.62(3)An order under subsection (1) is effective for seven days after its making, but the Commission may apply to the Court of King’s Bench to continue the order or for any other order that the Court of King’s Bench considers appropriate.

43.62(4)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by any means that the Tribunal determines to all persons named in the order.

43.62(5)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities or property or as to a claim being made to that person by any person not named in the order may apply to the Tribunal for direction or clarification.

43.62(6)The Tribunal, on the application of the Commission or of a person directly affected by the order, may revoke an order under subsection (1) or permit the release of any funds, securities or property in respect of which the order was made.

43.62(7)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.

43.62(8)The Tribunal may order a notice submitted under subsection (7) to be revoked or modified and, if an order is made, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.

43.62(9)On submission of a notice under subsection (7) or a copy of a written revocation or modification under subsection (8), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.

43.7(1)On the application of the Commission, the Tribunal, if in its opinion it is in the public interest to do so, may make one or more of the following orders:

43.7(2)The Tribunal may impose any terms and conditions that the Tribunal considers appropriate on an order under this section.

43.7(3)A person who is the subject of an order made under this section shall comply with any terms and conditions imposed on the order.

43.7(4)Unless the parties and the Tribunal consent, no order shall be made under this section without a hearing.

43.7(5)Despite subsection (4), if in the opinion of the Tribunal the length of time required to hold a hearing could be prejudicial to the public interest, the Tribunal, without a hearing, may make a temporary order under paragraph (1)(a), (b), (c) or (f).

43.7(6)The temporary order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by the Tribunal.

43.7(7)The Tribunal may extend a temporary order until the hearing is concluded if a hearing is commenced within the 15-day period.

43.7(8)The Commission shall without delay give written notice of an order or temporary order made under this section to any person directly affected by the order or temporary order.

43.71(1)On the application of the Commission and after conducting a hearing, the Tribunal may order a person to pay an administrative penalty of, in the case of an individual, not more than $25,000, and in the case of a person other than an individual, not more than $100,000, if the Tribunal

43.71(2)The Tribunal may make an order under this section despite the imposition of any other penalty on the person or the making of any other order by the Tribunal, the Commission or the Director related to the same matter.

43.81(1)Despite any other provision of this Act or the regulations, an administrative proceeding conducted by the Commission, the Tribunal or the Director under this Act or the regulations may be disposed of by

43.81(2)An agreement, written undertaking or decision made, accepted or approved under subsection (1) may be enforced in the same manner as a decision made by the Commission, the Tribunal or the Director under any other provision of this Act or under the regulations.

49(1)Despite the repeal of sections 19, 20 and 20.1 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, effective July 1, 1996, the Real Estate Council retains the power and authority that is necessary so as to enable it to carry out the requirements of subsection (2).

49(2)The Real Estate Council shall collect any money owing to it under section 13.4 of the Real Estate Agents Act, chapter R-1 of the Revised Statutes, 1973, as it existed immediately before July 1, 1996, and shall pay off its debts and transfer its remaining assets to The New Brunswick Real Estate Association for its use.

49(3)The New Brunswick Real Estate Association shall not use or invest any money transferred to it from the Real Estate Council, or any of the interest accruing on the money, without the prior approval of the Director.