Under the Real Estate Services Act, what is the maximum penalty on a first conviction for an individual who provides real estate services without a required licence?
Correct Answer
C) A $1.25 million fine, 2 years in prison, or both
Unlicensed activity contravenes RESA s. 3, which is an offence under s. 118(1). Under s. 119(2) an individual is liable on a first conviction to a fine of not more than $1.25 million, imprisonment for not more than 2 years, or both.
Why This Is the Correct Answer
Section 119(2) sets the first-conviction maximum for an individual at a $1.25 million fine, 2 years' imprisonment, or both.
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