In a significant move for Alberta condominiums, on June 1, 2020 the Lieutenant-Governor of Alberta, the Honourable Lois Mitchell, approved an Order in Council to amend the Condominium Property Regulation, AR 168/2000. Among other slight changes to document retention periods, the amendments notably give condominium corporations the ability to temporarily remove funds from their capital replacement reserve account to supplement their operating accounts, when certain conditions are met. You can read the Order in Council here. Read the article…………………………….
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