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Obligation upon creation of phase

(2)

Upon the registration of the amendments to the declaration and description required for

creating a phase, the declarant shall turn over to the board all materials mentioned in subsections

(1) and 43 (4) and clauses 43 (5) (a) to (h) and (l) and (m) that relate to the phase and that the

declarant has not previously turned over to the board. 1998, c. 19, s. 152 (2).

Non-application of s. 43

(3)

Subsections 43 (4) and (5) do not apply to the declarant if the board is required to hold

a meeting of owners under section 43 after the declarant has turned over to the board the

materials mentioned in subsection (2). 1998, c. 19, s. 152 (3).

Application

(4)

The corporation may make an application to the Superior Court of Justice for an order

under subsection (5). 1998, c. 19, s. 152 (4); 2000, c. 26, Sched. B, s. 7 (7).

Court order

(5)

If the court is satisfied that the declarant is required to comply with subsection (2) and

has not done so without reasonable excuse, the court,

(a) shall order that the declarant pay damages to the corporation for the loss it incurred as

a result of the declarant’s acts of non-compliance with subsection (2);

(b) shall order that the declarant pay the corporation’s costs of the application;

(c) may order the declarant to pay to the corporation an additional amount not to exceed

$10,000; and

(d) may order the declarant to comply with subsection (2). 1998, c. 19, s. 152 (5).

Election of directors

(6)

If, 30 days after the registration of the amendments to the declaration and description

required for creating a phase, the declarant owns a majority of the units in the corporation, the

board shall, at the request of the declarant, call a meeting of owners to elect a new board which

shall hold office until a board is elected as required by subsection 43 (1). 1998, c. 19, s. 152 (6).

Corporation’s obligations for phase

153. (1)

If the declarant registers the amendments to the declaration and description

required for creating a phase and the phase contains one or more units for residential purposes,

the board shall have a performance audit of the common elements contained in the phase

conducted on behalf of the corporation. 1998, c. 19, s. 153 (1).

Application of s. 44

(2)

Section 44 applies to the performance audit, except that,

(a) references in that section to the registration of the declaration and description shall be

deemed to be references to the registration of the amendments; and

(b) references in that section to the common elements shall be deemed to be references to

the common elements contained in the phase. 1998, c. 19, s. 153 (2).

Financial statements

(3)

Within 90 days of the registration of the amendments to the declaration and description

required for creating a phase, the corporation shall have the financial statements required by