Today’s eMemo contains the following updates:

• Federal statutory holiday on October 2: National Day for Truth and Reconciliation — Closures

Dear members,

Please be advised that the FVREB office will be closed on Monday, October 2, 2023, in observance of the National Day for Truth and Reconciliation (taking place on Saturday September 30, 2023).

Bill C-5, which was proclaimed in June 2021, is a law recognizing the history and lasting effects of Canada’s residential school system and honours Indigenous survivors, their families, and communities. Representing one of the recommendations of the Truth and Reconciliation Commission, this statutory holiday applies to all federally regulated public and private workplaces including banks, airports, and Canada Post, and others.

With financial institutions not operating on October 2, the closing of real estate transactions on this date will not be possible. Many are advising their clients to adjust closing dates to honour any “time is of the essence” clauses, which means that deadlines may need to be strictly observed, unless deliberately extended through mutual agreement.

In view of the closure of land registry offices, October 2 may become a problematic closing date, due to the inability to tender a registrable deed and the inability to move money around on a day when banks are closed.

The FVREB strongly recommends that any closings scheduled on Monday, October 2 be rescheduled.

The FVREB staff will be observing the holiday in support of Indigenous communities across BC and Canada, and we urge members to join us in cause and spirit towards healing our community.

We will resume regular operating hours on Tuesday, October 3 at 8:00 a.m.

Rock Lefebvre

Executive Director & Chief Operating Officer