On July 7, 2017, another proposed regulation was released for comment. The regulation addresses the returns and notices of change to be filed by condos and the public database to be created by the registrar created by the Condominium Authority of Ontario (CAO). Any person can provide comments on the proposed regulation online or by mail by August 22, 2017. The draft regulation and a plain language version are available online at
http://www.ontariocanada.com/registry/view.do?postingId=24490&language=en.
Types & Timing of Returns
There are four types of returns that will be filed with the registrar:
- Initial Return - after registration of the declaration and description creating the condominium (if created after this part comes into force).
- Turn-over Return - after the turn-over meeting is held and a new board is elected (if the turn-over meeting is after this part comes into force).
- Transitional Return - one-time return for all condominiums created and turned over before the returns come into force.
- Annual Return - to be filed between January 1 and March 31 each year.
The draft regulation includes a great chart that summarizes the content for each type of return. Some of the information required includes the condominium's name, the date of registration, the type of condominium, the address for service, the municipal address, the names of the directors, the number of units, the name of the manager, and the date of the last AGM. Condominiums will also be required to file notices of change within 30 days of certain changes (i.e. change in the directors).
The returns and notices of change will be filed electronically unless the registrar is satisfied that it would cause undue hardship to the condominium. A late fee is payable for any return or notice filed late by a condominium.
Database
The registrar will be required to maintain a database of condominiums that will include all of the information found in the returns and notices of change. It will also include information about any compliance orders made against the condominium or a director or officer related to the returns (i.e. failure to file a return, misleading statements).
Most of the information will be available to the public, except for any email addresses provided by the condominium. It will be available online for non-commercial uses only (however you enforce that). The registrar may publish summaries or analyses of the data without identifying information about individual condominiums.
Hopefully, the registrar will keep a better database than the one the land registry offices have (since they generally don't maintain or update it despite being obligated to pursuant to the current regulations).
Compared to the previous regulations this one is relatively short (10 pages) so give it a read when you have a few minutes. It is anticipated that this proposed regulation, once finalized, would come into force in early 2018.
