5. A person who, as of 1 May 2010, has taken all additional training imposed to holders of real estate broker’s licences by the Organization since that date and applies for a real estate broker’s licence within 2 years of the following events, is exempt from the obligation to meet the conditions set out in paragraphs 2 and 4 of section 1 of the Regulation respecting the issue of broker’s and agency licences (chapter C-73.2, r. 3):
(1) the expiry or relinquishment of the person’s chartered real estate agent’s certificate or chartered or affiliated real estate broker’s certificate issued under the Real Estate Brokerage Act (chapter C-73.1); or
(2) the time when the person ceased to act as the representative of a partnership or legal person that holds a chartered real estate broker’s certificate, in accordance with section 7 of the Real Estate Brokerage Act (chapter C-73.1) or as the manager or assistant manager of an establishment in accordance with section 13 of the Real Estate Brokerage Act (chapter C-73.1).
Such a person is deemed to have the competence in management of professional activities of brokers and agencies required to be an agency executive officer if the person has taken all additional training imposed by the Organization to brokers qualified as agency executive officers since 1 May 2010.