Mortgage Brokers Act

Mortgage Brokers Act, R.S.B.C. 1996, c. 313, s. 7

• Nature of Instrument: Certificate regarding proceedings with respect to the examination of a person by the registrar; the suspension or cancellation of a person’s registration under the Act; criminal proceedings or proceedings in respect of a contravention of the Act or regulations or orders or directions of the registrar.
• Filed by or in Favour of: The Registrar of Brokers appointed under the Act.
• Effect of Registration: The certificate has the same effect as the registration of a certificate of pending litigation.
• Revocation or Modification: The registrar may, in writing, revoke or modify the certificate.
• Note: Effective October 13, 2026, when the Act will be repealed and replaced by the Mortgage Services Act, S.B.C. 2022, c. 27, ss. 5 to 9 will continue to apply in respect of any matter into which the registrar commenced an investigation under the Act before its repeal, but references to the “registrar” will be read as references to the Superintendent of Mortgage Services (“the superintendent”). Under s. 48 of the new Act, effective October 13, 2026, the superintendent may make an order to freeze property under s. 48 in respect of a “licensee” (as defined in s. 1), and may file a “notice” under s. 49 against land described in the notice, which notice will have the same effect as a registered certificate of pending litigation.