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Consent of owners not required

(7)

Section 107 does not apply to amendments to the declaration that comply with

subsection (4) or to amendments to the description that comply with subsections (5) and (6).

1998, c. 19, s. 146 (7).

Completion of buildings

(8)

The amendments to the declaration and description required for creating a phase shall

not be registered unless all facilities and services have been installed or provided as the

municipality in which the land of the corporation is situated, or the Minister of Municipal Affairs

and Housing if the land is not situated in a municipality, determines are necessary to ensure the

independent operation of the corporation if no subsequent phases are created. 1998, c. 19,

s. 146 (8).

Security

(9)

Despite subsection (8), a declarant may register the amendments to the declaration and

description required for creating a phase, even though certain facilities and services have not

been installed or provided, if the municipality or the Minister of Municipal Affairs and Housing,

as the case may be, agrees that the declarant provide to a specified person a bond or other

security that is sufficient to ensure the installation or provision of the facilities and services.

1998, c. 19, s. 146 (9).

Partial release

(10)

The person holding the bond or other security may provide a partial release of it to the

declarant with the consent of the municipality or the Minister of Municipal Affairs and Housing,

as the case may be. 1998, c. 19, s. 146 (10).

Full release

(11)

The person holding the bond or other security shall not release it in full until,

(a) all the facilities and services covered by the bond, or other security have been installed

or provided in accordance with the regulations made under this Act; and

(b) the municipality or the Minister of Municipal Affairs and Housing, as the case may be,

consents. 1998, c. 19, s. 146 (11).

Disclosure statement

147. (1)

In addition to the requirements of subsection 72 (3), a disclosure statement for a

unit or a proposed unit in a phased condominium corporation shall contain,

(a) a statement whether the declarant intends to create one or more phases after the

creation of the unit or proposed unit;

(b) a statement that the declarant is not required to create a phase after the creation of the

unit or proposed unit;

(c) a statement that sets out the projected year of registration of the amendments to the

declaration and description required for creating each phase that the declarant intends

to create after the creation of the unit or proposed unit;

(d) a statement that sets out, for each phase that the declarant intends to create after the

creation of the unit or proposed unit,

(i) the approximate number of the units included in the phase and a legal description