New Policy Statement 17 – Temporary 3-Month Extension of Early Marketing Period for Developments

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In order to assist those affected by the COVID-19 pandemic response, the Superintendent of Real Estate has issued Policy Statement 17, which temporarily extends the nine month early marketing periods set out in Policy Statements 5 and 6 to 12 months. Under Policy Statement 17:

  1. development property marketed under a disclosure statement filed under the Real Estate Development Marketing Act(“REDMA“) from April 17, 2020 to July 17, 2020 can be marketed for a 12-month period if the disclosure includes applicable extended dates as required by Policy Statement 17; or
  2. development property marketed under a disclosure statement filed under REDMA from June 17, 2019 to April 16, 2020 can be marketed for a 12-month period if an amendment is filed and the disclosure includes applicable extended dates as required by Policy Statement 17.

For more information about Policy Statement 17, please see: Information Bulletin: Policy Statement 17 (PDF)

For more legal analysis of how COVID may affect your business, or personal affairs, visit Clark Wilson’s COVID-19 Resource and FAQ pages