Thank you, Mr. Speaker. The Member raised this issue with me some time ago and in taking a look at the Condominium Act, I had to agree that it looked like there might be some area that we were not looking at. So I've asked the department to compare our Condominium Act with those acts across Canada. I think the area that we might be somewhat lacking in is whether or not the reserve fund is considered to be adequate. That's the area that I think they're going to have to examine; whether or not we should insist, like Alberta does, that there be an independent review by an auditor as to whether or not the assumptions underlying the reserve fund are accurate. Thank you, Mr. Speaker.
Charles Dent on Question 542-15(3): Condominium Legislation On Capital Reserves
In the Legislative Assembly on March 4th, 2005. See this statement in context.
Return To Question 542-15(3): Condominium Legislation On Capital Reserves
Question 542-15(3): Condominium Legislation On Capital Reserves
Item 6: Oral Questions
March 3rd, 2005
Page 1775
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