GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Trust and Loan Companies Act — T-19.8 527.9
, or other dealing with, the shares. Registration of shares (8) Shares acquired under subsection (6) by the Minister or an agent or agency of Her Majesty in right of Canada shall be registered in the name of the Minister, agent or agency, as the case may be, in the company’s securities register if they are capable of being registered in it, and the shares shall be held by the Minister, agent or agency, as the case may be, on behalf of or in trust for Her Majesty. Disposition by Minister (9) The Minister may, at any time, sell or otherwise dispose of shares acquired under subsection (6). The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Disposition by agent or agency (10) An agent or agency of Her Majesty in right of Canada — at the request of the Minister, which may be made at any time — shall sell or otherwise dispose of shares acquired under subsection (6). The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Consideration by Minister (11) If the Minister or an agent or agency of Her Majesty in right of Canada is holding shares of a company on behalf of or in trust for Her Majesty on the day that is two years after the day on which the shares were acquired, the Minister shall consider whether holding the shares continues to promote the stability of the financial system in Canada. Mandatory disposition (12) If the Minister, under subsection (11), considers that holding shares acquired under subsection (6) no longer continues to promote the stability of the financial system in Canada, the Minister — or, at the request of the Minister, the agent or agency of Her Majesty in right of Canada — shall take the measures that the Minister considers practicable in the circumstances to sell or otherwise dispose of the shares. The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Not a Crown corporation (13) Even if the acquisition of a company’s shares under subsection (6) would otherwise cause the company to be a Crown corporation, as defined in subsection 83(1) of the Financial Administration Act , the company is not a Crown corporation for the purposes of that Act. Statutory Instruments Act (14) The Statutory Instruments Act does not apply to an order made under this section. Definition of shares (15) For the purposes of this section, shares includes any conversion or exchange privilege, option or right to acquire shares. 2009, c. 2, s. 292; 2016, c. 7, s. 174
Trust and Loan Companies Act — T-19.8 528
Not statutory instruments 528 An instrument issued or made under this Act and directed to a single company or person, other than an order referred to in section 487, is not a statutory instrument for the purposes of the Statutory Instruments Act .
Trust and Loan Companies Act — T-19.8 529
Form 529 The Superintendent may, by order, establish the form of any application to be made to the Minister or the Superintendent under this Act.
Trust and Loan Companies Act — T-19.8 529.1
Content of applications 529.1 (1) The following applications to the Superintendent must contain the information, material and evidence that the Superintendent may require: (a) applications for approval under subsection 68(1), 75(2), 78(4), 82(5), 83(1), 174(1), 222(3), 421(1), 453(6) or (10), 456(1) or (2) or 470(1), subparagraph 475(2)(b)(vi), section 478 or subsection 482(3) or (4) or 483.3(1); (b) applications for consent under subsection 74(1); (c) applications for exemptions under subsection 160.05(3); and (d) applications for extensions of time under subsection 456(3) or (5), 457(4) or 458(4). Receipt (2) Without delay after receiving the application, the Superintendent shall send a receipt to the applicant certifying the date on which it was received. Notice of decision to applicant (3) Subject to subsection (4), the Superintendent shall, within a period of thirty days after the receipt of the application, send to the applicant (a) a notice approving the application, subject to any terms and conditions that the Superintendent considers appropriate; or (b) if the Superintendent is not satisfied that it should be approved, a notice to that effect. Extension of period (4) If the Superintendent is unable to complete the consideration of the application within the period referred to in subsection (3), the Superintendent shall, within that period, send a notice to the applicant informing the applicant that the Superintendent has extended the period for a further period set out in the notice. Deemed approval (5) If the applicant does not receive the notice required by subsection (3) and, where applicable, subsection (4), within the required period, the Superintendent is deemed to have approved the application and granted the approval, consent, extension or exemption to which the application relates, regardless of whether the approval, consent, extension or exemption is to be in writing or not. 2001, c. 9, s. 568; 2007, c. 6, s. 383
Trust and Loan Companies Act — T-19.8 529.2
Application for certain approvals 529.2 (1) An application for the prior written approval of the Minister in respect of paragraph 410(1)(c) or (c.1) or 453(5)(b.1), (c), (d) or (d.1) must be filed with the Superintendent and contain the information, material and evidence that the Superintendent may require. Certification of receipt of application (2) If, in the opinion of the Superintendent, the application contains all the required information, the Superintendent must refer it to the Minister, together with his or her analysis in relation to the application, and send a receipt to the applicant certifying the date on which the application was referred to the Minister. Incomplete application (3) If, in the opinion of the Superintendent, the application is incomplete, the Superintendent must send a notice to the applicant specifying the information required by the Superintendent to complete it. Notice of decision (4) Subject to subsection (5), the Minister must, within 30 days after the certified date referred to in subsection (2), send to the applicant (a) a notice approving the application; or (b) if the Minister is not satisfied that the application should be approved, a notice to that effect. Extension of period (5) If the Minister is unable to complete the consideration of an application within the 30-day period, the Minister must, within that period, send a notice to the applicant informing the applicant that the Minister has extended the period for a further period set out in the notice. Deemed approval (6) If the Minister does not send the notice referred to in subsection (4) or, where applicable, subsection (5), within the required period, the Minister is deemed to have approved the application. 2007, c. 6, s. 384; 2012, c. 5, s. 182
Trust and Loan Companies Act — T-19.8 530
Appeal to Federal Court 530 (1) An appeal lies to the Federal Court from any direction of the Minister made under subsection 396(7), 401(1) or 401.1(1). Powers (2) The Federal Court may, in an appeal under subsection (1), (a) dismiss the appeal; (b) set aside the direction or decision; or (c) set aside the direction or decision and refer the matter back for re-determination. Certificate (3) For the purposes of an appeal under subsection (1), the Minister shall, at the request of the company or person making the appeal, provide the company or person with a certificate in writing setting out the direction or decision appealed from and the reasons why the direction or decision was made. 1991, c. 45, ss. 530, 540; 1996, c. 6, s. 132; 2012, c. 31, s. 108 2023, c. 26, s. 538
Trust and Loan Companies Act — T-19.8 531
Power to make regulations 531 (1) The Governor in Council may make regulations (a) prescribing anything that is required or authorized by this Act to be prescribed; (a.1) prescribing the way in which anything that is required or authorized by this Act to be prescribed shall be determined; (b) defining words and expressions to be defined for the purposes of this Act; (c) requiring the payment of a fee in respect of the filing, examining or issuing of any document or in respect of any action that the Superintendent is required or authorized to take under this Act, and fixing the amount thereof or the manner of determining the amount thereof; (d) respecting the regulatory capital and total assets of a company; (e) respecting the retention, in Canada, of assets of a company; (f) respecting the value of assets of a company to be held in Canada and the manner in which those assets are to be held; (f.1) respecting, for any purpose of any provision of the Act, the determination of the equity of a company; (g) respecting the protection and maintenance of assets of a company and assets held in trust by a company, including regulations respecting the bonding of directors, officers and employees of a company; (h) respecting the holding of shares and ownership interests for the purposes of sections 73 and 77; (i) respecting information, in addition to the information required by section 501, to be maintained in the register referred to in that section; and (j) generally for carrying out the purposes and provisions of this Act. Incorporation by reference (2) The regulations may incorporate any material by reference regardless of its source and either as it exists on a particular date or as amended from time to time. Incorporated material is not a regulation (3) Material does not become a regulation for the purposes of the Statutory Instruments Act because it is incorporated by reference. 1991, c. 45, s. 531; 1997, c. 15, s. 408; 1999, c. 31, s. 220(F); 2001, c. 9, s. 569; 2005, c. 54, s. 449
Trust and Loan Companies Act — T-19.8 532
Delegation 532 The Minister may delegate any of the Minister’s powers, duties and functions under this Act to any Minister of State appointed pursuant to the Ministries and Ministers of State Act to assist the Minister.
Trust and Loan Companies Act — T-19.8 533
Offence 533 (1) Every person who, without reasonable cause, contravenes any provision of this Act or the regulations is guilty of an offence. False or misleading information (1.1) Every person who knowingly provides false or misleading information in relation to any matter under this Act or the regulations is guilty of an offence. Undue preference to creditor (2) Every director, officer or employee of a company who wilfully gives or concurs in giving to any creditor of the company any fraudulent, undue or unfair preference over other creditors, by giving security to the creditor, by changing the nature of the creditor’s claim or otherwise, is guilty of an offence. Failure to provide information (3) Every person who, without reasonable cause, refuses or fails to comply with a requirement made under paragraph 505(2)(b) is guilty of an offence. Use of name (4) Except to the extent permitted by the regulations, every person who uses the name of a company in a prospectus, offering memorandum, takeover bid circular, advertisement for a transaction related to securities or in any other document in connection with a transaction related to securities is guilty of an offence. 1991, c. 45, s. 533; 2007, c. 6, s. 385
Trust and Loan Companies Act — T-19.8 534
Punishment 534 (1) Every person who is guilty of an offence under any of subsections 533(1) to (4) is (a) in the case of a natural person, liable (i) on summary conviction, to a fine not exceeding $100,000 or to imprisonment for a term not exceeding twelve months, or to both, or (ii) on conviction on indictment, to a fine not exceeding $1,000,000 or to imprisonment for a term not exceeding five years, or to both; and (b) in the case of an entity, liable (i) on summary conviction, to a fine not exceeding $500,000, or (ii) on conviction on indictment, to a fine not exceeding $5,000,000. Order to comply (2) Where a person has been convicted of an offence under this Act, the court may, in addition to any punishment it may otherwise impose, order the person to comply with the provisions of this Act or the regulations in respect of which the person was convicted. Additional fine (3) If a person has been convicted of an offence under this Act, the court may, if it is satisfied that as a result of the commission of the offence the convicted person acquired any monetary benefits or that monetary benefits accrued to the convicted person or their spouse, common-law partner or other dependant, order the convicted person to pay, despite the maximum amount of any fine that may otherwise be imposed under this Act, an additional fine in an amount equal to three times the court’s estimation of the amount of those monetary benefits. 1991, c. 45, s. 534; 1997, c. 15, s. 409; 2000, c. 12, s. 301; 2005, c. 54, s. 450
Trust and Loan Companies Act — T-19.8 535
Liability of officers, directors, etc. 535 Where an entity commits an offence under this Act, any officer, director or agent of the entity who directed, authorized, assented to, acquiesced in or participated in the commission of the offence is a party to and guilty of the offence and liable on summary conviction or on conviction on indictment to the punishment provided under paragraph 534(1)(a) for the offence whether or not the entity has been prosecuted or convicted. 1991, c. 45, s. 535; 1997, c. 15, s. 410
Trust and Loan Companies Act — T-19.8 535.1
Limitation period 535.1 (1) Proceedings by way of summary conviction in respect of an offence under a provision of this Act may be commenced at any time within, but not later than, two years after the day on which the subject-matter of the proceedings became known, in the case of an offence under a consumer provision, to the Commissioner and, in any other case, to the Superintendent. Certificate of Superintendent or Commissioner (2) A document appearing to have been issued by the Superintendent or Commissioner, as the case may be, certifying the day on which the subject-matter of any proceedings became known to the Superintendent or Commissioner is admissible in evidence without proof of the signature or official character of the person appearing to have signed it and is, in the absence of evidence to the contrary, proof of the matter asserted in it. 2001, c. 9, s. 570
Trust and Loan Companies Act — T-19.8 536
Effect of offence on contracts 536 Unless otherwise expressly provided in this Act, a contravention of any provision of this Act or the regulations does not invalidate any contract entered into in contravention of the provision.
Trust and Loan Companies Act — T-19.8 537
Restraining or compliance order 537 (1) If a company or any director, officer, employee or agent of a company does not comply with any provision of this Act or the regulations other than a consumer provision, or of the incorporating instrument or any by-law of the company, the Superintendent, any complainant or any creditor of the company may, in addition to any other right that person has, apply to a court for an order directing the company, director, officer, employee or agent to comply with — or restraining the company, director, officer, employee or agent from acting in breach of — the provision and, on the application, the court may so order and make any further order it thinks fit. Compliance or restraining order — consumer provisions (2) If a company or any director, officer, employee or agent of a company does not comply with any applicable consumer provision, the Commissioner or any complainant may, in addition to any other right that person has, apply to a court for an order directing the company, director, officer, employee or agent to comply with — or restraining the company, director, officer, employee or agent from acting in breach of — the consumer provision and, on the application, the court may so order and make any further order it thinks fit. 1991, c. 45, s. 537; 2001, c. 9, s. 571
Trust and Loan Companies Act — T-19.8 538
Appeal of final order 538 (1) An appeal lies to the court of appeal of a province from any final order made by a court of that province under this Act. Appeal with leave (2) An appeal lies to the court of appeal of a province from any order, other than a final order made by a court of that province, only with leave of the court of appeal in accordance with the rules applicable to that court. 1991, c. 45, s. 538; 2005, c. 54, s. 451
Trust and Loan Companies Act — T-19.8 539
Recovery and application of fines 539 All fines payable under this Act are recoverable and enforceable, with costs, at the suit of Her Majesty in right of Canada, instituted by the Attorney General of Canada, and, when recovered, belong to Her Majesty in right of Canada.
Trust and Loan Companies Act — T-19.8 539.01
Definitions 539.01 The following definitions apply in this Part. electronic document means, except in section 539.1, any form of representation of information or concepts that is fixed in any medium in or by electronic, optical or other similar means and that can be read or perceived by a person or by any means. ( document électronique ) information system means a system used to generate, send, receive, store or otherwise process an electronic document. ( système de traitement de l’information ) NI 51-102 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act , means the version of National Instrument 51-102 referred to in column 2. ( Règlement 51-102 ) NI 54-101 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act , means the version of National Instrument 54-101 referred to in column 2. ( Règlement 54-101 ) 2005, c. 54, s. 452 2026, c. 3, s. 291
Trust and Loan Companies Act — T-19.8
electronic document means, except in section 539.1, any form of representation of information or concepts that is fixed in any medium in or by electronic, optical or other similar means and that can be read or perceived by a person or by any means. ( document électronique )
Trust and Loan Companies Act — T-19.8
information system means a system used to generate, send, receive, store or otherwise process an electronic document. ( système de traitement de l’information )
Trust and Loan Companies Act — T-19.8
NI 51-102 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act , means the version of National Instrument 51-102 referred to in column 2. ( Règlement 51-102 )
Trust and Loan Companies Act — T-19.8
NI 54-101 in respect of a province set out in column 1 of Table 1 of Schedule V to the Bank Act , means the version of National Instrument 54-101 referred to in column 2. ( Règlement 54-101 )
Trust and Loan Companies Act — T-19.8 539.02
Application 539.02 This Part other than sections 539.13 and 539.14 does not apply in respect of any notice, document or other information that under this Act or the regulations is sent to or issued by the Minister, the Superintendent, the Commissioner or the Bank of Canada or any prescribed notice, document or information. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.03
Use not mandatory 539.03 Nothing in this Act or the regulations requires a person to create or provide an electronic document. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.04
 be sent by prepaid mail addressed to, or delivered personally to, the shareholder at their latest address as shown in the records of the company, or of its transfer agent: (a) any document or other information made available under subsection (4) before the request is made; or (b) all documents and other information made available under subsection (4) after the request is made. Documents already made available (7) A document or other information referred to in paragraph (6)(a) must be sent or delivered (a) within three business days after the day on which the request is received, if it is received before the day of the meeting; or (b) within 10 days after the day on which the request is received, if it is received on or after the day of the meeting. For greater certainty (8) For greater certainty, a document or other information that is required under this Act or the regulations to be sent to a specific place and that is made available under paragraph (3)(c) or (4)(c) is not required to be sent to an information system designated by the addressee. 2005, c. 54, s. 452; 2018, c. 27, s. 152 2026, c. 3, s. 292
Trust and Loan Companies Act — T-19.8 539.05
Creation or provision of information 539.05 A requirement under this Act or the regulations to create or provide a notice, document or other information is satisfied by creating or providing an electronic document if (a) the incorporating instrument or by-laws of the company do not provide otherwise; and (b) the prescribed requirements are complied with. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.06
Creation of information in writing 539.06 A requirement under this Act or the regulations to create a notice, document or other information in writing is satisfied by creating an electronic document if in addition to the conditions set out in section 539.05 (a) the information in the electronic document is accessible so as to be usable for subsequent reference; and (b) the prescribed requirements are complied with. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.07
Provision of information in writing 539.07 A requirement under this Act or the regulations to provide a notice, document or other information in writing is satisfied by providing an electronic document if in addition to the conditions set out in section 539.05 (a) the information in the electronic document is accessible by the addressee and capable of being retained by them so as to be usable for subsequent reference; and (b) the prescribed requirements are complied with. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.08
Multiple copies 539.08 A requirement under this Act or the regulations to provide two or more copies of a document at the same time to one addressee is satisfied by providing one copy of the electronic document. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.09
Registered mail 539.09 A requirement under this Act or the regulations to provide a document by registered mail is not satisfied by providing an electronic document except in the prescribed circumstances. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.1
Statutory declarations and affidavits 539.1 (1) A statutory declaration or affidavit required under this Act or the regulations may be created or provided in an electronic document if (a) the person who makes the statutory declaration or affidavit signs it with their secure electronic signature; (b) the authorized person before whom the statutory declaration or affidavit is made signs it with their secure electronic signature; and (c) the requirements of sections 539.03 to 539.09 are complied with. Definitions (2) For the purposes of this section, electronic document and secure electronic signature have the same meaning as in subsection 31(1) of the Personal Information Protection and Electronic Documents Act . References to “electronic document” (3) For the purpose of complying with paragraph (1)(c), references to “electronic document” in sections 539.03 to 539.09 are to be read as references to “electronic document within the meaning of subsection 31(1) of the Personal Information Protection and Electronic Documents Act ”. 2005, c. 54, s. 452
Trust and Loan Companies Act — T-19.8 539.11
Signatures 539.11 A requirement under this Act or the regulations for a signature or for a document to be executed, except in respect of a statutory declaration or affidavit, is satisfied in respect of an electronic document if the prescribed requirements are complied with and the signature results from the application by the person of a technology or process that permits the following to be proved: (a) the signature resulting from the use by the person of the technology or process is unique to the person; (b) the technology or process is used by the person to incorporate their signature into, attach it to or associate it with the electronic document; and (c) the technology or process can be used to identify the person using the technology or process. 2005, c. 54, s. 452