What are the Changes to the Condominium Act? (Part 3)

The article provides an overview of two important regulatory changes to the Condominium Act in Ontario. The first change pertains to the introduction of new Information Certificates that condominium corporations must prepare. These include Periodic Information Certificates (PIC), Information Certificate Updates (ICU), and New Owner Information Certificates (NOIC). The article emphasizes that these certificates must be completed using the prescribed forms available on the Government of Ontario website. The responsibility for preparing these certificates falls on the Directors if a professional property management company is not involved.

The second change discussed is the requirement for condominium corporations to file annual information returns. This is aimed at creating a publicly accessible database of information about condominium corporations in Ontario. The article explains the filing process, which includes both one-time filings and annual filings. Additionally, if any previously submitted information has changed, corporations must file a Notice of Change. The Condominium Authority of Ontario (CAO) will be launching an online condo return filing system to facilitate this process."