CPA · Condominium Property Regulation
Part 2 — Capital Replacement Reserve Fund
21.1 Reserve fund study provider qualifications
depreciating property, an individual is not permitted to act as a
reserve fund study provider unless the individual
( a ) i s
(i) a professional engineer,
(ii) a professional technologist,
(iii) a certified technologist as defined in the ASET
Regulation (AR 282/2009) who holds a certificate of
registration as a certified engineering technologist or
applied science technologist,
(iv) a registered engineering technologist as defined in
the ASET Regulation (AR 282/2009),
(v) a registered architect,
Section 21.1 AR 168/2000
(vi) a person who is a member of the Appraisal Institute
of Canada and holds the designation of Accredited
Appraiser Canadian Institute,
(vii) a person who is a member of the Canadian National
Association of Real Estate Appraisers and holds the
designation of Designated Reserve Planner or
Designated Appraiser Commercial,
(viii) a person who is a membe r of the Canadian Institute
of Quantity Surveyors and holds a designation as a
Professional Quantity Surveyor,
(ix) a certified reserve planner who is accredited by the
Real Estate Institute of Canada,
(x) a person who holds a cer tificate from the Reserve
Fund Planning Program at the University of British
Columbia, or
(xi) an individual who has successfully completed
training recognized by the Director or possesses
qualifications that are recognized by the Director,
a n d
(b) is knowledgeable with respect to
(i) the depreciating property or that type of depreciating
property,
(ii) the operation and maintenance of the depreciating
property or that type of depreciating property, and
(iii) the costs of replacement of or repairs to, as the case
may be, the depreciating property or that type of
depreciating property.
(2) In this Part, despite subsection (1), the following individuals
are not permitted to act as a reserve fund study provider:
(a) a director, officer or em ployee of the corporation;
(b) a condominium manager under a management agreement
with the corporation;
(c) a partner, employer or empl oyee of a person referred to in
clause (a) or (b);
(d) the spouse or common law partner or a child of a director
or officer of the corporation, or a child of the spouse or
Section 21.2 AR 168/2000
common law partner of a director or officer of the
corporation;
(e) an owner of a unit on the parcel;
(f) an occupant of a unit on the parcel.
(3) Despite subsections (1) and (2) and sections 21.2 and 23,
where a contract for a reserve fund study was entered into before
January 1, 2020, the qualifications of an individual to carry out a
reserve fund study are governed by section 21 as it read on
December 31, 2019.
AR 154/2019 s14;23/2026