WHEREAS Section 12 of the Real Estate Act, confirms the Real Estate Council of Alberta (the “Council”) has the authority to make rules requiring the use of standard forms for matters related to the industry and prescribing or providing for the establishment of those forms; and,
Council passed a motion on January 24, 2007 confirming it will implement the recommendation by the Council Agency Task Force to mandate the content to be included in specific forms and develop samples of specific forms containing the mandated content.
THEREFORE BE IT RESOLVED THAT:
The Rules will be amended as follows:
1. By adding the following section after section 60:
60.1 (1) Subject to the Rules, the content of the Real Estate Council of Alberta forms and Agency Relationship Guide contained in Schedule 1 is mandatory for use when industry members trade in residential real estate.
(2) If industry members use different forms or a different brochure than those set out in Schedule 1, the forms or brochures used must contain the mandatory content set out in Schedule 1 which mandatory content must not be directly or indirectly altered by the industry member.
(3) Any forms used by industry members may, in addition to the mandatory content, include additional or supplementary content; however, such additional or supplementary content must not directly or indirectly alter the meaning or effect of the mandatory content and must not alter the obligations or requirements of industry members outlined in the Act or these Rules.
(4) Notwithstanding 60.1 (2), upon the initiative and request of a client, an industry member may by hand add to, strikeout or alter any content of the mandatory forms and, if agreed to by all the parties, such change must be clearly indicated on the form and initialled by the client and industry member.”
2. Schedule 1 of the Rules will contain the forms and Agency Relationships Guide attached as an Appendix to this resolution.
3. The Executive Director is authorized to make grammatical, punctuation or administrative changes to the forms in Schedule 1; however such changes must not alter the meaning or effect of the forms.
4. The current Schedules 1 to 3 relating to prospectuses will be re-numbered 2 to 4, and any number references to the current Schedules will be amended accordingly.
DATED at Calgary, Alberta, this 22nd day of March 2007.