Regency Investments Ltd., Omar Sharif, and Amir Sharif

Enforcement Action: Compliance Order

Issue Date: June 10, 2014

Regency Investments Ltd. (“RIL”), Omar Sharif (“O. Sharif”), and Amir Sharif (“A. Sharif”), contrary to section 14(1) of the Homeowner Protection Act (the “Act”), conducted the business of a residential builder without being a Homeowner Protection Office (“HPO”) Licensed Residential Builder (“LRB”), regarding a multi-unit building in Vancouver, B.C. (the “Property”), and contrary to section 22(1) of the Act, built two new residential homes contained within the multi-unit building on the Property (the “New Homes”), sometime prior to May 12, 2014, without the New Homes being registered for coverage by home warranty insurance provided by a warranty provider. On June 10, 2014, the HPO issued Compliance Order 14-0036 to RIL, O. Sharif, and A. Sharif directing that RIL, O. Sharif, and A. Sharif:

  • immediately apply for and become an HPO LRB pursuant to section 14(1) of the Act, and register the New Homes for coverage by home warranty insurance provided by a warranty provider pursuant to section 22(1) of the Act; or
  • provide the HPO with proof that the New Homes were built by an HPO LRB and are enrolled in a policy of home warranty insurance pursuant to section 22 of the Act; or
  • ensure that the New Homes on the Property are owned under a single legal title, and immediately arrange for a restrictive covenant to be registered on the title to the Property restricting the sale or other disposition of any of the New Homes on the Property for 10 years from the date of first occupancy of one of the New Homes pursuant to section 2(2) of the Homeowner Protection Act Regulation.

RIL, O. Sharif, and A. Sharif were directed to comply with Compliance Order 14-0036 by July 10, 2014.