REDMA came into force on January 1, 2005 and we
have now had almost a decade in working under REDMA and the Policy
Statements issued by the Superintendent of Real Estate
("SoRE"). In the spring the BC
Government introduced Bill 17 to the Legislature, the Miscellaneous Statutes Amendment Act, 2014, which provided a number of refinements to
REDMA that will assist developers in marketing their projects.
The changes to REDMA were complemented by amendments to (i) the
Real Estate Development Marketing Regulation, B.C.
Reg. 505/2004(the "Regulations");
and (ii) certain Policy Statements issued by the SoRE.
1. CHANGES TO REDMA AND REGULATIONS
a) Delivery of Disclosure Statements
REDMA has been amended to allow developers to deliver Disclosure
Statements and Amendments to Disclosure Statements to purchasers by
electronic means (e.g. fax or email), as long as the purchaser has
provided their written consent to such delivery method.
Developers should consider revising
