What is the Competition Act?

• A. It is a provincial legislation that governs real estate advertising.
• B. It is a federal legislation that contains both criminal and civil sections, applies to most business activities across Canada including real estate services with a few exceptions, and is administered by the federal Competition Bureau.
• C. It is a by-law of the Manitoba Real Estate Association.
• D. It is an act that only applies to foreign investment.

Answer: (B)

The Competition Act is a federal statute that governs competition across Canada. It contains both criminal and civil provisions and is enforced by the federal Competition Bureau, applying to most business activities in the country, including real estate services, with a few exceptions. It is not provincial legislation, nor a Manitoba Real Estate Association by-law, and it is not limited to foreign investment. This is why the statement describing it as federal, with criminal and civil sections and administered by the Competition Bureau, and applying broadly to real estate services, is the best fit.