Canadian Ownership and Control Determination Act — C-20 11
New or amended application 11 (1) The holder of an effective certificate shall, in the form and manner prescribed, file a new application for a certificate or amend his original application where (a) the certificate shows the holder to be Canadian controlled and he has ceased to be Canadian controlled; (b) the Canadian ownership rate of the holder has decreased from that stated in the certificate in the circumstances prescribed by more than the prescribed number of percentage points; (c) the holder knows or ought to know that the certificate was issued on the basis of an erroneous determination or false or misleading information; (d) the holder knows or ought to know that any provision of an agreement, arrangement or undertaking that was submitted with the application for the certificate was breached or was not fully observed; or (e) the Minister, by notice in writing to the holder delivered personally or sent by registered mail, requires the application or amendment to be made where he believes, on reasonable grounds, that (i) paragraph (a) or (b) applies, (ii) the certificate was issued on the basis of an erroneous determination or false or misleading information, or (iii) any provision of an agreement, arrangement or undertaking that was submitted with the application for the certificate was breached or was not fully observed. Failure to comply (2) Where the holder of a certificate fails to comply with paragraph (1)(e) within thirty days after receipt of a notice sent by the Minister pursuant to that paragraph, or within such longer period as the Minister may reasonably allow, the certificate shall cease to be effective as of the day on which, in the opinion of the Minister, the event described in paragraph (1)(a) or (b) or subparagraph (1)(e)(ii) or (iii) occurred. Application may be filed (3) The holder of an effective certificate may, in the form and manner prescribed, file a new application for a certificate or amend his original application where, in the holder’s opinion, his Canadian ownership rate has increased or he has become Canadian controlled. Certificate issued pursuant to a new application (4) Sections 7 to 10 apply, with such modifications as the circumstances require, with respect to a new application for a certificate filed pursuant to subsection (1) or (3) and with respect to a certificate issued pursuant to that application, except that the certificate shall be effective (a) with respect to a new application filed pursuant to paragraph (1)(a) or (b) or subparagraph (1)(e)(i), as of the day on which the relevant change in Canadian ownership rate or control status occurred; (b) with respect to a new application filed pursuant to paragraph (1)(c) or (d) or subparagraph (1)(e)(ii) or (iii), as of the day the current certificate became effective; or (c) with respect to a new application filed pursuant to subsection (3), as of the day that the relevant change in Canadian ownership rate or control status occurred, and shall continue to be effective until the day the current certificate would, but for subsection (6), have ceased to be effective. Certificate issued pursuant to an amended application (5) Sections 7 and 8 apply, with such modifications as the circumstances require, with respect to an amended application for a certificate filed pursuant to subsection (1) or (3) and with respect to a certificate issued pursuant to that amended application, and the certificate shall be effective as of the day set out in paragraph (4)(a), (b) or (c), as the case may be, and shall continue to be effective until the day the current certificate would, but for subsection (6), have ceased to be effective. Current certificate ceases (6) On the issue of a certificate to a person pursuant to a new or amended application under this section, any current certificate of that person ceases to be effective as of the day the certificate so issued is effective. Definition of current certificate (7) In this section, current certificate