Updated: July 16, 2020

In order to assist with the ongoing economic hardship faced by consumers and developers alike as a result of the COVID-19 pandemic, the Superintendent of Real Estate has amended Policy Statement 17 to extend its effect until April 30, 2021. Policy Statement 17 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 April 30, 2021 can be marketed for a 12-month period if the disclosure includes the 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 the applicable extended dates as required by Policy Statement 17.

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