WHEREAS by Section 12 of the Real Estate Act (Act), the Real Estate Council of Alberta (Council) has the authority to make Rules;
At its meeting on July 5, 2011, Council passed a motion to amend the Real Estate Act Rules as follows:
Section 1(1)(b) is amended to read:
1(1)(b) "appraiser associations" means the Alberta Association of the Appraisal Institute of Canada, Alberta Assessors' Association, and Canadian National Association of Real Estate Appraisers;
Section 32(g) is amended to read:
32(g) a change in the directors, officers or shareholders of a corporation if the brokerage is a corporation"
Section 34(1)(h) is amended to read:
34(1)(h) the person is a brokerage and any director, officer, shareholder or partner, as the case may be, association with the brokerage:
(i) is not of good character and reputation; or
(ii) has made an application to withdraw from the industry pursuant to the Act and the application was approved.
Section 120 is repealed
Dated at Calgary this 5th day of July, 2011