B8 - Sunday, January 8, 1984 - North Shore News

El business |g)

Gov't streamlines
realty regulations

THE PROVINCIAL govern-
ment is taking steps to
streamline real estate
development procedures,
Consumer and Corporate Af-
fairs Minister Jim Hewett an-
nounced today.

Proposed changes to
regulations under the Real
Estate Act would reduce cur-
rent requirements for pro-
spectuses prior to the sale of
subdivided land.

**‘These changes will
eliminate unnecessary
bureaucratic delays for
developers and_ investors,
while still protecting the
average citizen,’’ Hewitt
said.

The minister said that land
development delays —
sometimes as long as ten

weeks — are costly and un-
necessary for experienced
business people dealing with
each other on equal footing.

Highlights of the proposed
regulations include exemp-
tion of prospectus re-
quirements for:

© The sale of land situated
in a municipality, if all ser-
vices are installed or there is a
contract for their
installation;

® Subdivided land sold by
one developer to another;

® Industrial or commercial
land that will not be used for
residential purposes.

In addition, changes will
be made that will allow,
under certain conditions, the
approval of land prospec-
tuses and the sale of the sub-

Juniors launch
new project

IN ITS continuing effort to
bring knowledge of the Cana-
dian business system to more
young people, Junior
Achievement of British Col-
umbia is launching a new
program, Project Business,
and is calling on _ local
business leaders for support.

The project is a flexible
economic education program
designed 4o fit into a school
curriculum and give eighth

and ninth graders a firsthand
introduction to the Canadian
business system by bringing
business leaders into the high
school.

There will be a one hour
presentation at the North
Vancouver Chamber of
Commerce on Tuesday,
January 10, at 4 pm or call
Ken McLean (688-8111) or
Ann Yauniskis of J.A.
(736-8531) for details.

divided lots prior to comple-
tion of the land registration
process.

Hewitt said ministry of-
ficials are continuing to con-
sult with the real estate in-
dustry and legal community
in finalizing the proposal,
part of an extensive review of
real estate prospectus
requirements.

It is expected the new
regulations will come into ef-
fect early in the New Year.

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