The Yukon government has approved new regulations for the Condominium Act, 2015, setting the date for the new act to come into force on Oct. 1.

Proclaiming these regulations in the fall will support the building season without unnecessary disruption, the government said last Friday.

Six sets of regulations under the Condominium Act, 2015 have been approved, including:

• the Condominium General Regulation;

• the Condominium Reserve Fund Regulation;

• the Bare Land Condominium Regulation;

• the Condominiums on Leasehold Land Regulation;

• the Phased Development Regulation; and

• the Converted Building Condominium Regulation.

The regulations’ approval will allow the updated Condominium Act, 2015 to come into force, modernizing condominium legislation in the Yukon by balancing development opportunities with consumer interests, the government said.

The new legislation provides additional rights and protection measures for buyers, owners and renters of condominia, as well as provisions that ensure responsible construction and governance of condominia in the Yukon.

The new regulations also provide opportunities for local businesses and professionals to develop the skills needed to produce reserve fund studies, building assessment reports and financial statements.

Information sessions on the new legislation and regulations will begin this spring to provide partners, stakeholders and the public with more details on the legislative changes.

“The new condominium legislation coming into force this October will modernize condominium regulations in the territory and ensure that developers, buyers, renters and owners have clear rights and responsibilities,” said Justice Minister Tracy-Anne McPhee.

“Thank you to the many organizations, partners and stakeholders who have worked hard to help develop these new policies.

“We are excited to bring this new act into force. It will align the Yukon’s condominium legislation with other Canadian jurisdictions.”

The government conducted public engagement on the Condominium Act, 2015 in 2018, as well targeted engagements in 2020 and 2021.

Amendments to the Condominium Act, 2015 were passed by the legislature in December 2020.

The government has worked with the Land Titles Modernization Stakeholder Advisory Committee throughout the condominium regulation development process.

“The new Condominium Act, 2015 represents many years of work with various organizations,” the government said.