Real Estate Professional Information

SCHEDULE 1
Licensing Conditions

1. Muzaffar Muhammad Qureshi’s (“Mr. Qureshi”) licence will be restricted to Century 21 Supreme Realty Inc. (X033872) or another brokerage acceptable to the BC Financial Services Authority (the “BCFSA”) for a period of not less than two years following the issuance of his licence (the “Conditional Licence Period”).

2. During the Conditional Licence Period, Mr. Qureshi must remain under the direct supervision of a managing broker of the Brokerage who is acceptable to the BCFSA, and who has confirmed in writing to the BCFSA that they have read these conditions, is aware of their duties under these conditions, and agrees to accept these duties (the “Managing Broker”).

3. These conditions are in addition to Mr. Qureshi’s and the Managing Broker’s obligations under the Real Estate Services Act (“RESA”), and the Regulations, Rules and Bylaws made under the RESA (together, the “Legislation”). The BCFSA and Mr. Qureshi have agreed upon these additional conditions of supervision. The Managing Broker may impose their own additional conditions to ensure that Mr. Qureshi meets their obligations under the Legislation.

4. During the Conditional Licensing Period, Mr. Qureshi must not be charged or convicted of any criminal offence. In the event that Mr. Qureshi is charged or convicted of a criminal offence during the Conditional Licensing Period, the BCFSA and/or the Superintendent of Real Estate shall have the right to suspend or terminate the licensing of Mr. Qureshi until such time as qualification and/or disciplinary hearing(s) have been held to determine if Mr. Qureshi is suitable to be issued a licence.

5. Mr. Qureshi must keep the Managing Broker informed weekly, or more frequently as required, of the real estate services that he is providing and other real estate-related activities that he is engaging in by providing written status reports (the “Status Reports”) to the Managing Broker that include, for each matter, as applicable:

   1. the names of the principals and their agents;

   2. the locations of the properties;

   3. a description of services provided;

   4. the status of the matter;

   5. scheduled dates (e.g. closing dates and dates for waiver or satisfaction of conditions precedent);

   6. funds paid and received; and

   7. any other information relevant to the matter.

6. To ensure that Mr. Qureshi meets his obligations under these conditions and the Legislation, the Managing Broker must meet with Mr. Qureshi on a weekly basis, or more frequently as required, to discuss the following:

   1. the most recent Status Report;

   2. any practice issues identified by the Managing Broker or Mr. Qureshi;

   3. the appropriate course of action for addressing any identified practice issues and/or whether appropriate steps have been taken to address previously identified practice issues; and

   4. confirm Mr. Qureshi’s attendance at or completion of any educational or training opportunities recommended by the Managing Broker.

7. Mr. Qureshi must consult with the Managing Broker in advance of taking any action on matters in respect of which there are questions or concerns regarding compliance with the Legislation, other applicable legislation, or the Brokerage’s policies and procedures.

8. In addition to providing the Brokerage with all records required under the Legislation, Mr. Qureshi must provide the Brokerage with all records created in connection with the provision of real estate services regardless of whether such records are associated with a specific transaction, including records of listing presentations, appraisals, competitive market analyses, correspondence, and referrals.

9. Mr. Qureshi must obtain the Managing Broker’s approval before presenting documents prepared by Mr. Qureshi to principals or their agents for execution.

10. Mr. Qureshi must provide to the Managing Broker all documents signed by Mr. Qureshi’s principals and Managing Broker must review all such documents.

11. Within 14 days after the end of each calendar quarter, the Managing Broker will provide a report to the BCFSA (each, an “Interim Report”) confirming in relation to that calendar quarter (the “Reporting Period”):

    1. that Mr. Qureshi has provided real estate services under their direct supervision;

    2. that Mr. Qureshi’s activities have been carried out competently and in compliance with these conditions, the Legislation, all other applicable legislation (to the best of the Managing Broker’s knowledge having made reasonable inquiries), and in accordance with Brokerage’s policies and procedures, or alternatively, providing details of non-compliance;

    3. that they have reviewed all transactions in which Mr. Qureshi has provided real estate services, and that all documents relevant to the transactions are contained in the appropriate deal file and kept at the Brokerage;

    4. they have met with Mr. Qureshi on a weekly basis, or more frequently as required, to discuss the matters specified under these conditions; and

    5. the number of real estate transactions that Mr. Qureshi has conducted and details regarding the principal(s), the agency offered, and any dealings with unrepresented parties.

12. Each Interim Report will be reviewed by the BCFSA, who will determine if Mr. Qureshi has been providing real estate services in accordance with the Legislation and these conditions during the Reporting Period and if not, will so advise the Managing Broker and Mr. Qureshi.

13. Within 30 days before the end of the Conditional Licence Period, or within 14 days after the Managing Broker ceases to be the Managing Broker, whichever is earlier, the Managing Broker must provide a final report (the “Report”) to the BCFSA confirming in relation to the Conditional Licence Period, or during the period in which Managing Broker acted as Managing Broker under these conditions, as applicable:

    1. that Mr. Qureshi has provided real estate services under their direct supervision;

    2. that Mr. Qureshi’s activities have been carried out competently and in compliance with these conditions, the Legislation, all other applicable legislation (to the best of the Managing Broker’s knowledge having made reasonable inquiries), and in accordance with Brokerage’s policies and procedures, or alternatively, providing details of non-compliance;

    3. that they have reviewed all transactions in which Mr. Qureshi has provided real estate services, and that all documents relevant to the transactions are contained in the appropriate deal file and kept at the Brokerage;

    4. they have met with Licensee on a weekly basis, or more frequently as required, to discuss the matters specified under these conditions; and

    5. the number of real estate transactions that Mr. Qureshi has conducted and details regarding the principal(s), the agency offered, and any dealings with unrepresented parties.

14. The Report will be reviewed by the BCFSA, who will determine if the Conditional Licence Period has provided an adequate opportunity for BCFSA to make a determination that Licensee is providing real estate services in accordance with the Legislation and these conditions and if not, will so advise the Managing Broker and Mr. Qureshi.

15. The Managing Broker must immediately report to the BCFSA anything of an adverse nature with respect to Mr. Qureshi’s real estate services, including

    1. failure of Mr. Qureshi to observe these conditions, the requirements of the Legislation or all other applicable legislation; and

    2. complaints received by the Brokerage, including the nature of the complaint, the parties involved, and how the complaint was resolved.

16. The Managing Broker must ensure that Mr. Qureshi and his licensed assistants, if any, receive adequate, appropriate and ongoing training with respect to their obligations under the Legislation and the Brokerage’s policies and procedures.

17. Mr. Qureshi may have no unlicensed assistant(s) during the Conditional Licence Period.

18. If the Managing Broker is absent from the Brokerage:

    1. for more than one week but less than one month, the Managing Broker may delegate their duties to another managing broker or an associate broker who confirms their agreement to accept the supervision duties under these conditions to the BCFSA in writing; or

    2. for more than one month, Mr. Qureshi must notify BCFSA immediately and approval from the BCFSA for a successor managing broker to supervise Mr. Qureshi must be sought as set out in paragraph 20 of these conditions.

19. If for any reason the Managing Broker is unable to perform any of the duties imposed herein, they must immediately advise BCFSA.

20. If there is a change in the managing broker of the Brokerage, the former managing broker and Mr. Qureshi must immediately notify BCFSA in writing. If BCFSA determines that the successor managing broker is acceptable as a managing broker for the purposes of these conditions, they will be provided with a copy of these conditions and will be asked to confirm in writing to the BCFSA that they have read these conditions, is aware of their duties under these conditions, and agrees to accept these duties. If that managing broker fails to provide such confirmation within 14 days of becoming a managing broker at the Brokerage, they will be deemed to be unable or unwilling to perform the duties set out in these conditions.

21. Failure by Mr. Qureshi to adhere to one or more of the conditions may constitute professional misconduct and the BCFSA retains the discretion to investigate this and any other matter, including matters set out in the Interim and Final Reports reviewed by the BCFSA, pursuant to section 37 or the RESA.