Legislation & Information Bulletins > Real Estate Act
Part 4 - Real Estate Assurance Fund Section 60.1 - Eligibility
Despite sections 60(1), 60.2 and 60.3(1), the following persons are not eligible to apply to the Council for compensation from the Fund:
a bank, loan corporation, trust corporation, credit union or treasury branch, or any other financial institution, whose business includes the lending of money by way of mortgage security or otherwise, or a subsidiary, within the meaning of section 2 of the Business Corporations Act, of any of them;
any person who in the Council’s opinion knowingly participated in or was wilfully blind to the fraud or breach of trust of the industry member that gave rise to the judgment against the industry member;
any corporation or other entity carrying on any business or activity specified or described in the regulations.