CPA · Condominium Property Regulation
Part 1 — .4
20.31 Notification by prescribed trustee
under section 14 of the Act, a prescribed trustee shall notify the
purchaser, at the purchaser's address for service, that the
purchaser's deposit is held on deposit in the prescribed trustee's
trust account.
(2) Nothing in this Regulation precludes a purchaser, with the
developer's agreement, from retaining a prescribed trustee to hold a
purchaser's deposit.
(3) A prescribed trustee retained under subsection (2) shall, within
10 days after depositing a purchaser's deposit into the prescribed
trustee's trust account, notify the developer of the deposit.
AR 181/2017 s6