COMPANY
& FINANCE |
Company and Finance News:
BCSC Panel Sanctions Director and President and CEO
of Parking Technology Company
A British Columbia Securities Commission panel has sanctioned
a director and the president and CEO of a now-bankrupt parking
technology company for illegally distributing securities.
In July 2012, a commission panel found that Photo Violation
Technologies Corp. (PVT), Frederick Lawrence Marlatt (a.k.a.
Frederick Lawrence Mitschele), and Michael Wallace Minor
contravened securities laws by selling approximately $3.6
million in PVT shares to 272 investors without being registered
and with no prospectus. The panel determined that exemptions
claimed by the respondents were not applicable.
At the time of the distributions, Mitschele was president and
CEO of PVT, a BC company whose business was the development and
commercialization of parking meter technology. Minor was a
director of PVT.
In its sanctions decision, the panel noted that a major
mitigating factor was that Mitschele and Minor took considerable
steps on behalf of PVT to ensure compliance with the Securities Act, including the
obtaining of legal advice and meeting with commission staff with
a view to addressing PVT’s compliance issues. Other
mitigating factors were that neither Mitschele nor Minor has any
prior disciplinary history, and that neither was enriched
through their activities in PVT (in fact, both of them incurred
losses in the hundreds of thousands of dollars as a result of
their involvement with PVT). View full press release
by BCSC.
Amendments
Adoption of amendments were made to National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations,
B.C.
Reg. 226A/2009, and Companion Policy 31-103CP Registration
Requirements, Exemptions and Ongoing Registrant Obligations
relating to cost disclosure, performance reporting and client
statements. The amendments came into force July 15, 2013 and
have been consolidated on QS Online.
PST Bulletins
A number of consumer tax bulletins and news releases have been
issued recently on the Consumer Tax website. These include:
BC Government Announces New Corporate Model
In response to an emerging demand for socially focused
investment options, British Columbia has launched a new hybrid
corporate model, the community contribution company (C3 or CCC).
Designed to bridge the gap between for-profit businesses and
non-profit enterprises, this innovative business model is the
first of its kind in Canada. C3 status allows entrepreneurs in
BC to pursue social goals through their businesses while still
generating a profit and providing investment opportunities to
like-minded investors. View full Ministry of Finance news release.
Securities Regulator Alleges that Lawyer Engaged in
Illegal Insider Trading
The executive director of the British Columbia Securities
Commission has issued a notice
of hearing alleging that a lawyer working in Vancouver, BC
engaged in illegal insider trading. The notice states that
Weiqing Jane Jin, a partner in a Beijing law firm, was hired as
a consultant in the Vancouver office of an international
business law firm in February 2009. Hathor Exploration Limited,
a mineral exploration company listed on the Toronto Stock
Exchange (TSX), was a client of the law firm. The notice states
that in June 2011, Hathor entered into a confidentiality
agreement with CGNPC Uranium Resource Co. Ltd., a nuclear power
company. CGNPC was interested in Hathor’s uranium property
holdings. Jin was assigned to work with Hathor in July 2011, and
she was involved in negotiations to amend the confidentiality
agreement in August 2011 to include an exclusivity clause and a
notification period. On Friday, August 12, 2011, Hathor emailed
CGNPC copies of the confidentiality agreement and the amended
agreement, and requested that CGNPC sign it by the next day
(when the exclusivity period was to commence). View BCSC news release.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Business Corporations Act |
July 29/13 |
by 2012 Bill 23, c. 12, sections 1 (a), 2 to 6,
8 to 16, 33 (a), (c), (d), 35 and 37 (h) (in force by
Reg 71/2013),
Finance Statutes Amendment Act, 2012 |
Community Contribution Company Regulation
(63/2013) |
NEW
July 29/13 |
by
Reg 63/2013 |
Extraprovincial Associations and Corporations
from a Designated Province Regulation (89/2009) |
July 1/13 |
by
Reg 111/2013 |
Extraprovincial Limited Liability Partnerships
and Limited Partnerships from a Designated Province Regulation
(90/2009) |
July 1/13 |
by
Reg 119/2013 |
Income Tax Act |
RETROACTIVE
to Apr. 1/13 |
by 2013 Bill 2, c. 17, section 26 only (in force
by Royal Assent),
Budget Measures Implementation Act, 2013 |
Income Tax (BC Family Bonus) Regulation (231/98) |
July 1/13 |
by
Reg 75/2013 |
National Instrument 31-103: Registration
Requirements, Exemptions and Ongoing Registrant Obligations
(226A/2009) |
July 15/13 |
by
Reg 193/2013 |
ENERGY
& MINES |
Energy
and Mines News:
Nisga’a First Nation Sues BC Government over
Environmental Assessment for Proposed Mine
A First Nation in British Columbia's northwest is taking the
provincial government to court over plans to redevelop an
open-pit molybdenum mine on lands where it says its members have
fishing and hunting rights.
In a petition launched in BC Supreme Court this week, the
Nisga'a allege, in part, that the provincial government failed
to consult the First Nation on environmental issues before
issuing an environmental certificate to Vancouver-based Avanti
Mining Inc.
The First Nations' leaders accuse the government of breaching
the Nisga'a Final Agreement.
But the Ministry of Environment said in a statement issued
Friday evening that the provincial government takes the treaty
very seriously and consultation was a central aspect of the
environmental assessment. Read the Vancouver Sun article.
New PST Bulletin for Mining Industry
The BC Government has issued a a new bulletin that provides
information on how the PST applies to businesses in the mining
industry: Bulletin
PST 111.
LNG to Bring More Than 100,000 Jobs to BC, Says Report
BC Jobs Minister Shirley Bond is touting new figures that
predict more than 100,000 jobs are coming to the province thanks
to the liquefied natural gas industry – but opposition
critics wonder if the province can train enough people to fill
the positions.
The report by the BC Natural Gas Workforce Strategy Committee
estimates 60,000 workers will be needed to build LNG plants and
pipelines starting in 2016, and 75,000 workers will be needed to
keep them running after that. Read CBC article.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Carbon Tax Act |
July 25/13 |
by 2013 Bill 2, c. 17, sections 6 and 7 only (in
force by Royal Assent),
Budget Measures Implementation Act, 2013 |
Greenhouse Gas Reduction (Renewable and Low
Carbon Fuel Requirements) Act |
July 1/13 |
by 2012 Bill 41, c. 18, sections 15 to 28 only
(in force by
Reg 335/2012),
Miscellaneous Statutes Amendment Act (No. 2), 2012 |
Hydro and Power Authority Act |
July 25/13 |
by 2013 Bill 2, c. 17, section 19 only (in force
by Royal Assent),
Budget Measures Implementation Act, 2013 |
Petroleum Development Road Regulation (356/98) |
REPEALED
July 3/13 |
by
Reg 136/2013 |
Renewable and Low Carbon Fuel Requirements
Regulation (394/2008) |
July 1/13 |
by
Reg 335/2012 |
FAMILY
& CHILDREN |
Family and Children
News:
Supreme Court Releases Important Decision on Relocation
– Family Law Act
There has been a flurry of judgments published over the last two
or three months on the relocation provisions of the Family Law Act. ... In his
post, [John-Paul
Boyd] review[s] a critical new case from our Supreme
Court, L.J.R.
v. S.W.R., that [he] suspects is going to become the
new go-to case on relocation claims.
For other recent cases, click on the "mobility" label at the
bottom of [his] post. In a nutshell, the parties in this case
had been involved in a brief relationship that produced a child
in 2010. The father maintained contact with the child and
pursued a meaningful relationship with her, to the point of
moving closer to the child from another province, at the
suggestion of the mother, in order to make his contact with the
child easier and the parties wound up sharing the child's time
on a week-on/-off basis. In 2012, the mother reconnected with an
old flame whom she wound up marrying in 2013. As the mother's
new husband lived and worked in Tennessee, the mother applied to
take the child and move there. Read the full article
posted on JP Boyd on Family Law The Blog.
New Self Help Guides
The BC Family Law website has recently published a number of
self help guides:
Important Supreme Court Decision Addresses Penalties for
Nondisclosure – Family Law Act
Mr. Justice Punnett of the Supreme
Court has released his judgment on an application for a
fine under s. 213 of the Family Law Act for failing to
make proper financial disclosure in the timely manner required
by the rules of court. The judgment in this case, J.D.G.
v. J.J.V., is the first decision on the
nondisclosure provisions of the new act.
The background facts relevant to the application are these:
- Under SCFR 5-1 the application respondent's financial
statement (an important court form used to describe a party's
income, assets, expenses and debts) was due on 7 December
2012. It was not produced.
- It was not produced at a Judicial Case Conference heard on 8
January 2013, contrary to SCFR 7-1.
- It was not produced by 18 Janaury 2013, contrary to an order
made at the JCC.
- In fact, it was not produced until 10 April 2013, two days
before the application was heard.
Click here
to view the full article posted by John-Paul Boyd on JP Boyd on
Family Law the Blog. |
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Supreme Court Civil Rules (168/2009) |
July 1/13 |
by
Reg 65/2013 |
Supreme Court Family Rules (169/2009) |
July 1/13 |
by
Reg 65/2013 |
FOREST
& ENVIRONMENT |
Forest
and Environment News:
Government Doing Fewer Inspections of Forest and Range
Practices
An investigation into government’s inspections of
compliance with forest and range practice legislation found that
the number of inspections is one-third of what it was a few
years ago, according to a report released today.
"The Forest and Range Practices Act
is intended to keep environmental standards high, with strong
compliance and enforcement. Government needs to demonstrate that
it is carrying out enough inspections to adequately monitor
compliance with legislation, or public confidence will be
diminished," said Al Gorley, board chair.
Inspections decreased for a variety of reasons, one of which was
the 2010 consolidation of natural resource ministries that now
sees fewer natural resource officers inspecting a much greater
number and type of activities on Crown land. For example they
now inspect dams, recreation activities, illegal structures like
cabins and docks, litter, open burning, etc.
As a result of this investigation, the board recommends
improvements to how the government records and reports industry
compliance. Read the Forest Practices Board entire news
release.To view the full report by the FPB,
download full report.
Rustad Echoes Liberal Comments on Release of Mill Explosion
Report
BC's Aboriginal Relations Minister is repeating comments made by
his BC Liberal colleagues regarding the delayed release of the
BC Safety Authority report into the Babine Forest Products
sawmill explosion.
The NDP is leading the charge accusing the government of
witholding vital safety information, but John Rustad says Crown
Counsel must have exclusive access to the document in order to
properly assess if charges should be laid without a media frenzy
in their face.
Rustad says the families of the killed as well as the wounded
are among those that respect due process. See more.
No Carbon
Tax Rise, Despite Program's Success
BC Minister of Environment Mary Polak says her government will
stick to its promise to freeze the carbon tax for the next
five years, despite a new study which finds it is reducing
emissions.
The study
from the University of Ottawa concluded that since BC
introduced the carbon tax shift in 2008, the province's
consumption of fossil fuels reduced nearly 19 per cent per
capita compared to the rest of Canada.
Meanwhile British Columbia's gross domestic product has kept
pace with that of the whole country. View CBC article.
New Woodlot Licence Available near Enderby, BC
British Columbia continues to expand forest opportunities for
individuals, groups and First Nations with the offering of a new
woodlot licence near Enderby, British Columbia.
The woodlot (W2024) is about 20 kilometres north of Enderby and
covers 1,186 hectares with an allowable annual cut of 3,000
cubic metres. Read
more at the ForestTalk website.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Forest Act |
July 25/13 |
by 2013 Bill 2, c. 17, sections 9 to 16 only
(in force by Royal Assent),
Budget Measures Implementation Act, 2013 |
Greenhouse Gas Reduction (Renewable and Low
Carbon Fuel Requirements) Act |
July 1/13 |
by 2012 Bill 41, c. 18, sections 15 to 28 only
(in force by
Reg 335/2012),
Miscellaneous Statutes Amendment Act (No. 2), 2012 |
Renewable and Low Carbon Fuel Requirements
Regulation (394/2008) |
July 1/13 |
by
Reg 335/2012 |
HEALTH |
Health
News:
Recent Court of Appeal Decision Determines
Meaning
of Limitation Period
under s. 8(7) of the Health Care Costs Recovery Act
British Columbia (Attorney General) v. Beacon Community
Services Society, 2013 BCCA 317
This decision deals with an appeal by the Province from the
chambers judge’s decision to summarily dismiss its action
against Beacon Community Services Society to recover its health
care costs under s. 8 of the Health Care Costs Recovery Act,
S.B.C. 2008, c. 27. Section 8 of the Act permits the Province to
initiate its own legal proceeding against a wrongdoer for the
recovery of past and future health care services.
Section 8(5) indicates that the Ministry’s limitation for
bringing an independent action is the later of two dates:
(a) the date that is 6 months after the expiration of the
limitation period that applies to the beneficiary’s right
to commence a legal proceeding against a wrongdoer, or
(b) the earliest of five potentially other applicable
dates.
Section 8(7) states:
Subsection (5) (b) does not apply if the limitation period
referred to in subsection (5) (a) has expired before the date
that subsection comes into force.
The plaintiff was injured on November 4, 2006. He brought an
action in June 2007 and was granted judgment in April 2009. The
Act came into force on April 1, 2009. In May 2009, the Ministry
became aware of the decision. It filed its own action against the
original defendants in October 2009 to recover health care costs.
The defendants took the position that the Ministry’s claim
was statute barred because it was not brought by May 4, 2009,
i.e., within two years and six months of the tortious act. A
chambers judge agreed and dismissed the claim. The Ministry
appealed, arguing that dates under 8(5)(b) should have applied
because the limitation period referred to in 8(5)(a) was 30 months
and not 24 months. View the full article
published by Jennifer
Woznesensky with Harper Grey LLP.
Patient's Family Sues BC over Living Will
The actions of Abbotsford nursing home staff who are
spoon-feeding an 82-year-old Alzheimer's patient –
contrary to the wishes she expressed in her living will –
constitute battery, a lawsuit by her daughter and husband
alleges.
The lawsuit, filed Tuesday in BC Supreme Court against Fraser
Health, the nursing home and the provincial government, is
expected to be precedent-setting as it should
clarify end-of-life rights of patients and the obligations of
health providers.
The patient, Margaret (Margot) Bentley, is a former nurse and
the daughter of Charles Tysoe, who was a BC Court of Appeal
judge. She frequently reminded relatives and friends that she
had executed the legal document, the suit states.
Katherine Hammond, Bentley's daughter and co-plaintiff (with
Bentley's second husband John), said in an interview that her
mother would have shunned the public spotlight and would never
have wanted to become a right-to-die "test case." Read the Vancouver
Sun article.
|
Act
or
Regulation
Affected |
Effective Date |
Amendment
Information |
Emergency Medical Assistants Regulation
(210/2010) |
July 17/13 |
by
Reg 194/2013 |
LABOUR
& EMPLOYMENT |
Labour and Employment News:
Human Rights Tribunal Takes On Forum Hopping
– Human Rights Code
The BC Human Rights Tribunal has breathed new life into the
concept of what it means to further the purposes of the Human Rights Code with
the result that employers have some hope in stopping forum
hopping and serial litigation. Mahdi
v. Hertz Canada Limited could prove to be one of the
Tribunal’s most important dismissal decisions yet.
Mr. Mahdi is a long time unionized employee of Hertz. Over the
course of about four years he pursued multiple grievances about
his vacation rights. He had some success following hearings or
by way of settlement.
Before the last of his vacation grievances was settled, he filed
a human rights complaint alleging religious discrimination;
specifically that his request for vacation during Ramadan was
denied. He also claimed the vacation denials were in retaliation
for his previous human rights complaint. He had never raised an
issue of religious discrimination in his vacation grievances, he
knew that Hertz had not yet been notified of the human rights
complaint and he never mentioned the complaint before the last
grievance was settled. View full article
by Earl
Phillips with McCarthy Tetrault.
BC Proposes Giving Teachers Right to Strike to
Secure 10-year Deal
BC's education minister is proposing to give teachers back the
right to strike with legislative amendments planned for the next
time the legislature sits, part of an effort to reach a 10-year
contract agreement.
In a letter to school board chairs and superintendents
Wednesday, Education Minister Peter Fassbender said the
amendments will reflect what he calls "innovations," including
allowing teachers to negotiate directly with the government.
He also told reporters later that teachers have asked for the
full right to strike, a right the union lost after the Liberal
government came to power in 2001.
"We're wide open to that discussion as we move forward," he
said.
"I think what it says is we want to sit down and talk about how
do we ensure stability in the school system, that we avoid
disruption. and that's really the key."
Read more
on the Vancouver Sun website.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Employment and Assistance for Persons with
Disabilities Regulation (265/2002) |
July 7/13 |
by
Reg 70/2013 |
Public Education Labour Relations Act |
July 1/13 |
by 2012 Bill 22, c. 3, section 11 only (in force
by Royal Assent),
Education Improvement Act |
Review of Old Permanent Disability Awards
Regulation (177/2013) |
NEW
Aug. 1/13 |
see Reg
177/2013 |
LOCAL
GOVERNMENT |
Local Government News:
Comparing BC's Gas Tax Fund with Other
Provinces, Territories
British Columbia was the first jurisdiction in Canada to
negotiate a Gas Tax Agreement (GTA) with the federal government.
As a result there are a few features about BC's agreement that
are unique. The vast majority of BC's GTA, though, mirrors
agreements in other jurisdictions, particularly in the area of
eligible and ineligible costs.
As part of the terms and conditions of the GTA, eligible and
ineligible costs reflect federal priorities as the provider of
funding to the program, and are consistent for agreements in all
provinces and territories.
For example, all Gas Tax agreements in Canada require that in
order to be eligible, all capital projects must result in a
tangible capital asset in the applicable province/territory,
primarily for public use or benefit, and owned by an Eligible
Recipient. In addition, all agreements require that the project
must improve the quality of the environment, and contribute to
reduced greenhouse gas emissions, clean water or clean air. View
UBCM article.
Frustrated by BC Safety Laws, Vancouver
Prepares to Roll Out
Helmet Vending Machines at Bike-share Stations
Despite its near-rabid commitment to bike lanes, this week
Vancouver became the last of Canada’s three most populous
cities to inaugurate a municipal bike-share system. Throughout,
proponents have laid the blame for this laggard-status squarely
on BC’s 17-year-old helmet law. Unlike in Toronto or
Montreal, any lidless Vancouverite caught atop two wheels faces
a $100 fine. But now, with city hall having given the go-ahead
for shared bike stations to hit Vancouver streets by 2014, the
city has a convenient workaround: Helmet vending machines. Read
National Post
article.
Amateur Combat Sports become Legal
The BC government has introduced new regulations
that give clarity and confidence to the combat sport sector to
allow amateur events to go forward, Minister of Community, Sport
and Cultural Development Coralee Oakes announced [in early
August].
Regulation of amateur combat sport events was required due to
recent changes to the Criminal Code of Canada
that have had a number of effects:
- Requires provinces to designate amateur combat sport events
as either needing or not needing regulation. The BC government
now will be regulating mixed martial arts, kickboxing,
pankration and Muay Thai events. These sports’ events
now will need permission from the BC Athletic Commissioner
(BCAC).
- Allows provincial governments to exempt amateur combat
sports from regulation if they are on the International
Olympic or Paralympic Committee lists. The BC government is
exempting these sports (boxing, wrestling, tae kwon do and
judo) at this time.
- Allows provincial governments to exempt non-Olympic and
non-Paralympic combat sports from oversight. The BC government
will not require event regulation for the sports of wushu,
karate, kung fu, grappling and jiu jitsu.
While sanctioning processes are still being developed, the BCAC
expects that no amateur event will be negatively affected by the
changes to the Criminal Code. View the full government
news
release. |
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Elevating Devices Safety Regulation (101/2004) |
July 2/13 |
by
Reg 164/2013 |
Home Owner Grant Act |
July 25/13 |
by 2013 Bill 2, c. 17, sections 17 and 18 only
(in force by Royal Assent),
Budget Measures Implementation Act, 2013 |
Land Tax Deferment Act |
July 25/13 |
by 2013 Bill 2, c. 17, sections 27 to 30 only
(in force by Royal Assent),
Budget Measures Implementation Act, 2013 |
MISCELLANEOUS
|
Miscellaneous News:
BC Launches "Aggressive" Agenda to Modernize
Liquor Laws
A study is underway in BC to look at broadening and modernizing
the province’s outdated liquor laws.
The study will look at a variety of issues surrounding liquor,
including whether people should be allowed to bring alcoholic
beverages to beaches and parks, according to attorney general
Suzanne Anton.
Anton said the BC Liberals have an aggressive agenda to
immediately update the laws.
The topic of BC’s liquor laws has been a hot topic in
recent years, as some businesses have struggled to stay afloat
amid restrictions. Read the full
article on Global News.
Supreme Court Rules against Tabling French-only
Court Documents in BC
The Supreme Court of Canada has struck down an attempt to file
French-only court documents in British Columbia, in a minority
language-rights case that could have a ripple effect in parts of
the country.
Lawyer Mark Power, who was part of the legal team arguing for
the right to plead in French, said the case will have a
different impact in different provinces. [The] 4-3 decision will
be felt in some provinces – BC, Nova Scotia, Newfoundland
and Prince Edward Island – where groups will be forbidden
from tabling documents in the minority language alone, he said.
It will not apply, he said, in six provinces that have laws or
constitutional protections guaranteeing access to the court
system in either official language.
That includes New Brunswick, which is officially bilingual under
the 1982 Charter of Rights and Freedoms; Quebec and Manitoba,
which received similar protections under the 1867 Constitution;
and Alberta, Ontario and Saskatchewan, which have passed laws
that allow certain French language rights in court, he said.
The Supreme Court ruled Friday that there are no such guarantees
in BC. View the full article
on Global Post.
Court Grants Injunction against Notary Public
who Violated Legal Profession Act
The Law Society has obtained an injunction in BC Supreme Court
prohibiting Gail Joan MacDonald from providing legal services in
contravention of the Legal Profession Act.
The Law Society sought the injunction after learning that
MacDonald, a notary public practising in Mission, had assisted
in the probate of an estate and had drafted wills which included
trusts and life estates, all for a fee.
In a decision dated July 8, 2013 the court found MacDonald had
breached the Act by providing legal services that she was not
authorized to provide under the Notaries Act. Read the full article
and decision as posted by the Law Society of BC.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Independent School Regulation
(262/89) |
July 1/13 |
by
Reg 125/2013 |
Public Education Labour Relations
Act |
July 1/13 |
by 2012 Bill 22, c. 3, section 11
only (in force by Royal Assent),
Education Improvement Act |
MOTOR
VEHICLE & TRAFFIC |
Motor
Vehicle and Traffic News:
BC Court of Appeal Finds Pub 20% At Fault
for Over-serving
Patron Who Caused a Vehicle Collision
Adding this site’s archived cases addressing commercial
host liability, reasons for judgement were released this week
by the BC Court of Appeal addressing the blameworthiness of a
pub who overserved a patron who then drove drunk and caused a
catastrophic collision.
In this week’s case (Hansen v. Sulyma) the
Plaintiff was a passenger in a vehicle that ran out of gas and
was parked off the side of the road. At the same time the
Defendant, who had been drinking excessively at a nearby pub,
“approached from behind, swung wide and hit their car.”
The crash had catastrophic results rendering the Plaintiff
quadriplegic.
The motorist was found largely responsible for the crash but
the BC Court of Appeal also allocated 20% of the blame to the
pub. In addressing their blameworthiness for over serving a
patron the Court provided the following reasons: (read the
full article
by Erik Magraken on his BC Injury Law Blog).
Recent CVSE Bulletins
A number or Circulars and bulletins have been issued by CVSE
recently. Of note, these include
- Amended National Safety Code (NSC) 10 Cargo Securement
Standard To advise that the National Safety Code (NSC) 10
standard on cargo securement was amended by the Canadian
Council of Motor Transport Administrators (CCMTA) and
approved by all provinces and territories (Effective January
1st, 2014). Circular
03-13
- AMENDED Preapproved and Unladen Heavy Haul (HH)
Combinations Travelling on Long Combination Vehicle (LCV)
Designated Routes Without a Pilot Car. Circular
02-13
- Inspection of Flood Damaged Vehicles VI
Bulletin 04-13
- Inspection Intervals for Commercial Trailers VI
Bulletin 07-13
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
There were no
amendments this month. |
PROPERTY
& REAL ESTATE |
Property and Real
Estate News:
Amendments to Property Tax Regulations
The UDI Taxation Committee successfully amended the regulation
allowing for residential classification
on vacant mixed-use development land. This amendment to the
regulation was for land having no
present use. Prior to the amendment, mixed-use sites were often
classified as 100% commercial. With
the changes, mixed-use may now be split class. Recent appeals
have revealed shortcomings in zonings
that are given unfavourable treatment (e.g., commercial
taxation) by BC Assessment, resulting in higher
property taxes being paid by developers. Read the full article
and bulletin by the Urban Development Institute.
Real Estate Investment and Securities
Regulation
Real estate has long served as an attractive investment
opportunity for those with some extra cash to spend. Whether as
rental property generating monthly income or as a long-term
investment offering the potential for significant appreciation
in value, real estate can provide the investor with a relatively
stable place to park his or her money. Add to this stability the
fact that most people can understand a real estate transaction
as compared to more complex investment structures, and real
estate comes off as an excellent investment strategy for most
investors.
However, what seems so straightforward at first can quickly
become complex, especially when that simple real estate
transaction turns into an offering subject to securities
regulation. The question then becomes, how does a real estate
purchase morph into an investment regulated by the often
confusing intricacies of securities law? View article
by Collin
May with Miller Thomson LLP.
|
Act
or
Regulation Affected |
Effective
Date |
Amendment
Information |
Land Tax Deferment Act |
July 25/13 |
by 2013 Bill 2, c. 17, sections 27 to 30 only
(in force by Royal Assent),
Budget Measures Implementation Act, 2013 |
Property Transfer Tax Act |
July 25/13 |
by 2013 Bill 2, c. 17, section 31 only (in force
by Royal Assent),
Budget Measures Implementation Act, 2013 |
WILLS
& ESTATES |
Wills and Estates News:
BC Law Society
Prevails against Notary Public over Will Drafting
The Supreme Court of British Columbia has clarified the
circumstances in which certain wills must be drafted by lawyers
rather than by notaries public.
In The Law Society of British Columbia v. MacDonald, a
notary public was found to have violated the Legal Profession Act by
drafting a will without the authorization to do so.
The respondent, Gail Joan MacDonald, was also banned from
engaging in the practice of law not authorized by the Notaries Act.
Notaries public in British Columbia provide legal services to
the public such as residential real estate transactions, will
preparations, powers of attorney, health care directives, and
statutory declarations. Section 18 of the Notaries Act
sets out the circumstances in which notaries public may draw and
supervise the execution of certain types of wills. Read the full
article
by Charlotte
Santry posted on the Canadian Lawyer Magazine Blog.
Electronic Wills: The Way of the Future?
A judge in Ohio recently ruled that a will written and signed on
a tablet computer was a valid will, as discussed on the American
Bar Association Journal website here.
The case involved a man named Javier Castro, who needed a blood
transfusion in order to survive his illness, but refused due to
his religious beliefs. While in hospital, Javier discussed
preparing a will with his two brothers. Since they had no pen or
paper to do so, they decided to write the will on one of their
Samsung Galaxy tablets. Javier signed the will on the tablet.
The judge found that Javier’s will met the legal
definition of a will in Ohio.
Of course, a precedent from Ohio doesn’t mean much here in
BC, and at present the formalities required to create a valid
will in BC do not allow for electronic wills. However, the new
Wills,
Estates and Succession Act (“WESA”)
coming into force March 31, 2014 will bring us closer to the
possibility of a will in electronic form being found valid. View
full article
by Areet
Kaila with Clark Wilson LLP.
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