Strata Management Licensing Practice Exam · Question
A strata corporation in Kelowna is preparing to issue a Form B Information Certificate to a prospective buyer. Which of the following items is NOT required to be included in the Form B?
Form B, as prescribed by Section 59 of the Strata Property Act and the Schedule of Standard Forms, requires specific information such as the annual budget, CRF
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Question: A strata corporation in Kelowna is preparing to issue a Form B Information Certificate to a prospective buyer. Which of the following items is NOT required to be included in the Form B?
Answer options:
- A copy of the current annual budget, including the unit entitlement and the monthly strata fees for the unit.
- The particulars of any civil resolution tribunal or court proceeding to which the strata corporation is a party.
- A statement of the condition of the contingency reserve fund (CRF) and any special levies. ✅ The minutes of the last three annual general meetings and any special general meetings held in the past two years.
Correct answer: The minutes of the last three annual general meetings and any special general meetings held in the past two years.
Explanation: Form B, as prescribed by Section 59 of the Strata Property Act and the Schedule of Standard Forms, requires specific information such as the annual budget, CRF status, and legal proceedings. While minutes are important records, the Form B itself requires a summary of insurance coverage and certain resolutions, but not explicitly the minutes of the last three AGMs and SGMs held in the past two years to be attached as part of the Form B document itself. It is a common misconception that all minutes are required attachments, but the Strata Property Regulation specifies particular items. The required attachments are listed under Section 59(2) and (3) of the Strata Property Act, and these do not include all AGM/SGM minutes from the past two or three years.
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