This regulation sets prescribed amounts and interest rules under The Builders' Liens Act, identifies where notice of claim for lien may be given when the Crown owns the land or structure, and states when the regulation starts and what regulation it repeals.
Builders' Liens Regulation, M.R. 127/89 The Builders' Liens Act , C.C.S.M. c. B91 Regulation 127/89 Registered May 23, 1989 bilingual version (HTML) Definition 1 In this regulation, "Act" means The Builders' Liens Act . M.R. 17/2021 Amount prescribed for section 24 2 For the purposes of section 24 of the Act, the amount prescribed is $200,000. M.R. 116/90 Amount prescribed for section 59 3 For the purposes of section 59 of the Act, the amount prescribed is $75,000. M.R. 116/90 Notice of claim on Crown 4 For the purposes of clause 45(3)⁠(a) of the Act, where the owner of the land or structure is the Crown, the office of the Deputy Minister of Finance is the office to which notice of claim for lien may be given. M.R. 116/90; 60/2018 ; 17/2021 Rate of interest on holdbacks 5(1) In this section, "prime lending rate" means the prime lending rate of the Royal Bank of Canada. 5(2) For the purposes of subsection 24(6) of the Act: (a) the interest payable on holdbacks during the period set out in Column I of the Schedule is the rate of interest set out opposite in Column II of the Schedule; and (b) commencing January 1, 1997, the interest payable on holdbacks is the prime lending rate less 4%, adjusted January 1 and July 1 of each year and determined as follows: (i) where the date of interest adjustment is January 1, the rate for the period commencing on that date shall be calculated on the basis of the prime lending rate in effect on the immediately preceding December 1; (ii) where the date of interest adjustment is July 1, the rate for the period commencing on that date shall be calculated on the basis of the prime lending rate in effect on the immediately preceding June 1; and (iii) where the interest rate calculated under this regulation is less than .50% the rate shall be deemed to be .50%. M.R. 116/90; 251/96 Repeal 6 Manitoba Regulation 518/88 is repealed. Coming into force 7 This regulation comes into force on June 30, 1989 or on the date it is filed under The Regulations Act whichever is the later. SCHEDULE (section 5) COLUMN I COLUMN II From and including 81/09/28 to and including 81/12/13 15.50% From and including 81/12/14 to and including 82/06/13 13.75% From and including 82/06/14 to and including 82/12/19 12.00% From and including 82/12/20 to and including 83/06/19 7.75% From and including 83/06/20 to and including 84/06/17 6.00% From and including 84/06/18 to and including 85/06/28 7.00% From and including 85/06/29 to and including 86/06/28 5.75% From and including 86/06/29 to and including 87/06/26 5.25% From and including 87/06/27 to and including 88/06/24 4.25% From and including 88/06/25 to and including 88/12/30 5.00% From and including 88/12/31 to and including 89/06/29 6.25% From and including 89/06/30 to and including 90/06/30 8.00% From and including 90/07/01 to and including 90/12/31 9.75% From and including 91/01/01 to and including 91/06/30 8.25% From and including 91/07/01 to and including 91/12/31 4.75% From and including 92/01/01 to and including 92/06/30 3.50% From and including 92/07/01 to and including 92/12/31 2.50% From and including 93/01/01 to and including 93/06/30 4.00% From and including 93/07/01 to and including 93/12/31 1.00% From and including 94/01/01 to and including 94/06/30 .50% From and including 94/07/01 to and including 94/12/31 1.75% From and including 95/01/01 to and including 95/06/30 2.00% From and including 95/07/01 to and including 95/12/31 4.25% From and including 96/01/01 to and including 96/06/30 2.75% From and including 96/07/01 to and including 96/12/31 1.50%