| THE REAL ESTATE BROKERS ACT | ) |
Order No. 2495 |
) |
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| Section 47 | ) |
May 12, 2004 |
An Order Exempting
Realty World - Countryland
From subsection 3(9) of The Real Estate Brokers Act
Background information
Application has been made to The Manitoba Securities Commission (the Commission)
by Realty – World Countryland (the Applicant) for an order pursuant to
section 47 of The Real Estate Brokers Act (the Act) exempting the Applicant
from one provision of the Act.
The Applicant has represented to the Commission that:
1. The Applicant is registered as a broker under the Act:
2. The Applicant conducts real estate transactions out of an office located in Neepawa, Manitoba;
3. The Applicant intends to open a branch office in Boissevain, Manitoba at 418 South Railway St. to be operated as a branch office staffed by two registered salespeople;
4. The Applicant intends to use the same Authorized Official for the Boissevain branch as for its main branch in Neepawa, Manitoba;
5. The trust records and transactions with respect to the Boissevain branch will be maintained at the Applicant’s main office which is located at 3 Village Drive, Neepawa, Manitoba;
6. Subsection 3(9) of the Act states that a broker shall not appoint an authorized official to be in charge of more than one office;
7. It would not be economically feasible to employ a separate authorized official to manage the Boissevain branch office and consequently, the Applicant wishes to appoint James T. Davies as the authorized official in charge of the Boissevain, Manitoba branch office.
The Commission is satisfied that it would not be contrary to the public interest to make this order.
Order and conditions
The Commission orders that, pursuant to section 47 of the Act, the Boissevain,
Manitoba branch office of the Applicant shall be exempt from subsection 3(9)
of the Act, subject to the following conditions
i. James T. Davies shall be the authorized official in charge of the Offices located in Neepawa and Boissevain; and
ii. No more than two salespeople shall be registered to work out of the Boissevain office unless approved by the Registrar under the Act.
The fee for this order is $150.00.
BY ORDER OF THE COMMISSION
Director - Legal