A plain language summary of the first round of proposed changes to rules under the Condominium Act was posted yesterday on Ontario’s Regulatory Registry. The draft regulation will be added to the registry as soon as it’s available, according to the summary.
If adopted, new requirements for giving owners regular updates and maintaining records of owners would roll out July 1, as would mandatory director disclosures and training along with new meeting notice procedures and new prescribed proxy forms. Rules clarifying minimum retention periods for records and standardizing the records request process would take effect this fall.
The proposed changes to regulations under the Condominium Act come as part of the overhaul of Ontario’s outdated condo laws. Bill 106, the Protecting Condominium Owners Act, set out a framework for the sweeping changes based on input collected during an 18-month consultation process; the regulations will spell out the specifics. For now, the current Condominium Act remains in force.
The Ministry of Government and Consumer Services is inviting industry stakeholders and members of the public to comment on the proposed changes to regulations under the Condominium Act between now and March 30.
Bill 106 also introduced the Condominium Management Services Act, which will require condo managers and management providers to maintain a license when the new legislation takes effect. The first draft regulation under the Condominium Management Services Act, released Dec. 16, deals with the qualifications to become licensed, exemptions, restrictions and the transition period. The deadline for commenting on proposed Condominium Management Services Act rules was originally set to expire on Feb. 6 but is now open until Feb. 24.