3. Powers and Duties of the Superintendent of Real Estate Flashcards
Under this Act, “Minister” refers to
The minister responsible for the Registrar of Companies
The Superintendent of Real Estate is also known as
The Registrar of Companies
The Superintendent has been specifically established as the supervisory authority for real estate brokers, for the purpose of detecting/preventing what 3 things?
- Money laundering
- The financing of terrorism
- The financing of the proliferation of weapons of mass destruction
A licensee or firm under investigation, is entitled to what two things?
A notice and an appeal’s process
Any person in respect of whom the investigation is made shall within how many days provide answers to the notice?
5 days
When the licensee is served a warning notice by the Superintendent, how much time do they have to to provide a response.
14 days
When a warning notice is made, and a response is given by the licensee that ends the matter, what notice is issued by the Superintendent?
Discontinuance notice
When the warning notice is made, and a response is given by the licensee that warrants further action what notice is issued by the Superintendent?
Decision notice
What features does a decision notice include?
- It is in writing,
- Gives both the decision and the reasons supporting the decision
- Gives an indication of the right to appeal the decision to the supreme Court
Decision notices are given within what time period from the original notice?
90 days
What decisions to decision notices impose?
- License revocation
- A civil penalty
- Public censure, typically a published statement
- A prohibition order
A person aggrieved by a decision may be able to appeal to the Supreme Court by filing a notice of motion within what time frame from which the notice took effect?
21 days
