We are over the six month mark from the date the first phase of amendments to the Act came into force on November 1, 2017. That means every condominium should have sent out at least one information certificate by now, unless at least 80% of the owners have consented to dispense with the requirement. Have you sent yours? Here is a recap of the obligations:
Periodic Information Certificates (PICs)
The PIC is a prescribed form that must be sent to the owners within 60 days of the last day of the condominium’s first and third quarters. For example, with a December 31st year end the first PIC is due between April 1st and May 30th and the second PIC is due between October 1st and November 29th.
Tip: Be careful when determining the applicable 60 day period because of fluctuations in the number of days per month.
Tip: To save administrative charges and postage, try to time the sending of the PIC with other notices or certificates, or switching as many people as possible to electronic notices.
Information Certificate Update (ICU)
The ICU is a prescribed form that must be sent out when certain information about the condominium, directors, or manager changes. The ICU must be sent out within 30 days of the change, unless it is a change to an insurance policy (in which case it must be sent out as soon as reasonably possible) or a loss of quorum (in which case it must be sent out within 5 days of the loss of quorum).
Tip: The condominium must update certain information with the CAO when it changes as well, including a change in the directors or address for service. The manager would normally take care of this. See the CAO’s website for more information.
Tip: If the address for service or mailing of the condominium changes you must register a notice of change with the local land registry office. The lawyer would normally take care of this.
New Owner Information Certificate (NOIC)
The NOIC is another prescribed form. It must be sent (along with a copy of the most recent PIC and any ICU sent since the PIC) to the owner within 30 days of the owner notifying the condominium of their ownership.
For a more thorough discussion on the information certificates or methods of delivering them see our previous post: https://ontcondolaw.com/2017/11/13/the-new-information-certificates/