We now have proposed Regulations from the Province, governing the upcoming requirements for condominium corporations to file returns with the new Condominium Authority, and also creating a new publicly-accessible database of information respecting all condominium corporations in the Province.
There will be four new types of returns for condominium corporations:
Initial Return – To be filed after registration of the Declaration and Description (applying only to corporations declared after the new Regulations come into force).
Turnover Return – To be filed after the turnover meeting is held (applying only to corporations that hold a turnover meeting after the new Regulations come into force).
Transitional Return – To be filed by all existing corporations after the new Regulations come into force.
Annual Returns – To be filed annually by all corporations.
The attached chart provides a “snapshot” of the information to be contained in each type of return. Click here to access the detailed Chart of Condominium Returns
Condominium corporations will also be required to file “Notices of Change” – within 30 days – following a change to certain information in the corporation’s returns.
The returns will have to be filed electronically. However, the Registrar can accept another filing method if the Registrar is satisfied that electronic filing would cause undue hardship to the corporation.
The Registrar will maintain a public database (accessible on line) containing all of the information in the returns and Notices of Change, as well as certain additional information noted in the Regulations.
Persons have until August 22, 2017 to provide feedback to the Province, on the proposed Regulations, if they wish to do so. To provide comment, go to the Ministry’s webpage respecting these proposed new Regulations.