Companies’ Creditors Arrangement Act — C-36 30
Powers in relation to licence 30 (1) If, after making or causing to be made an inquiry or investigation into the conduct of a monitor, it appears to the Superintendent of Bankruptcy that the monitor has not fully complied with this Act and its regulations or that it is in the public interest to do so, the Superintendent of Bankruptcy may (a) cancel or suspend the monitor’s licence as a trustee under the Bankruptcy and Insolvency Act ; or (b) place any condition or limitation on the licence that he or she considers appropriate. Notice to trustee (2) Before deciding whether to exercise any of the powers referred to in subsection (1), the Superintendent of Bankruptcy shall send the monitor written notice of the powers that the Superintendent may exercise and the reasons why they may be exercised and afford the monitor a reasonable opportunity for a hearing. Summons (3) The Superintendent of Bankruptcy may, for the purpose of the hearing, issue a summons requiring the person named in it (a) to appear at the time and place mentioned in it; (b) to testify to all matters within their knowledge relative to the subject matter of the inquiry or investigation into the conduct of the monitor; and (c) to bring and produce any books, records, data, documents or papers — including those in electronic form — in their possession or under their control relative to the subject matter of the inquiry or investigation. Effect throughout Canada (4) A person may be summoned from any part of Canada by virtue of a summons issued under subsection (3). Fees and allowances (5) Any person summoned under subsection (3) is entitled to receive the like fees and allowances for so doing as if summoned to attend before the Federal Court. Procedure at hearing (6) At the hearing, the Superintendent of Bankruptcy (a) has the power to administer oaths; (b) is not bound by any legal or technical rules of evidence in conducting the hearing; (c) shall deal with the matters set out in the notice of the hearing as informally and expeditiously as the circumstances and a consideration of fairness permit; and (d) shall cause a summary of any oral evidence to be made in writing. Record (7) The notice referred to in subsection (2) and, if applicable, the summary of oral evidence referred to in paragraph (6)(d), together with any documentary evidence that the Superintend­ent of Bankruptcy receives in evidence, form the record of the hearing, and that record and the hearing are public unless the Superintendent of Bankruptcy is satisfied that personal or other matters that may be disclosed are of such a nature that the desirability of avoiding public disclosure of those matters, in the interest of a third party or in the public interest, outweighs the desirability of the access by the public to information about those matters. Decision (8) The decision of the Superintendent of Bankruptcy after the hearing, together with the reasons for the decision, must be given in writing to the monitor not later than three months after the conclusion of the hearing, and is public. Review by Federal Court (9) A decision of the Superintendent of Bankruptcy given under subsection (8) is deemed to be a decision of a federal board, commission or other tribunal that may be reviewed and set aside under the Federal Courts Act . 2005, c. 47, s. 131; 2007, c. 36, s. 75