The Strengthening Protection for Ontario Consumers Act, 2017, which is also known as “Bill 166”, received royal assent on December 14, 2017. According to the press release by the Ontario government, Bill 166 was designed to “build a fairer, safer and more informed marketplace with stronger rules for buying event tickets and travel services, and purchasing, leasing or selling real estate, including newly built homes.” The bill amends or repeals 13 existing statutes like the Ontario New Home Warranties Plan Act, Real Estate and Business Brokers Act, and Travel Industry Act, and enacts three new statutes: the Ticket Sales Act, New Home Construction Licensing Act, 2017, and Protection for Owners and Purchasers of New Homes Act, 2017.
It has been a busy six weeks as those in the condo industry learned how to use the new forms, conduct owners’ meetings, and apply all of the other amendments that came into force on November 1, 2017. For more information on the amendments in force now, see some of our previous blog posts:
In a couple of short weeks, on January 1, 2018, the second phase of amendments will come into force. The second phase does not have as many changes as the first, but there are, nonetheless, some important changes worth noting. Continue reading