GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 38
38 (1) A lessor that discontinues a capital leasing business and transfers all outstanding capital leases to another lessor shall notify the Minister in writing of the transfer. (2) After the transfer referred to in subsection (1), the Minister is liable to pay to the transferee the amount of any eligible loss, calculated in accordance with subsection 44(7), sustained as a result of lessees’ defaults on all capital leases entered into by the lessor. (3) No other capital leases of the transferee that have been registered with the Minister in accordance with these Regulations shall be taken into account in determining the Minister’s liability.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 39
39 (1) When a capital lease is transferred by a lessee to another lessee, the Minister’s liability under section 7 in respect of the capital lease continues if (a) the lessor approves the transferee as the lessee in accordance with the due diligence requirements referred to in section 19, and the aggregate outstanding balance in respect of the lessee or any related lessee or borrower does not exceed $250,000; (b) the security referred to in section 23 is maintained; (c) any additional security referred to in section 24 is maintained or replaced by other additional security of equal or greater value on the assets in accordance with that section; and (d) any guarantee or suretyship referred to in section 26 is maintained or replaced by another guarantee or suretyship of equal or greater value in accordance with that section. (2) Nothing in subsection (1) precludes the lessor from releasing the lessee from their obligations under the capital lease. (3) When there is a change of partners in a partnership, the Minister’s liability under section 7 in respect of a capital lease continues if (a) in accordance with the due diligence requirements referred to in section 19, the lessor approves the fact that the new partner has assumed the obligations of the old partnership, and the aggregate outstanding balance in respect of the new partner or any related lessee or borrower does not exceed $250,000; and (b) the conditions set out in paragraphs (1)(b) to (d) are met. (4) When a partner leaves a partnership and is not being replaced, the Minister’s liability under section 7 in respect of a capital lease continues if (a) in accordance with the due diligence requirements referred to in section 19, the lessor approves the fact that the remaining partners have assumed the obligations of the new partnership; and (b) the conditions set out in paragraphs (1)(b) to (d) are met. SOR/2006-272, s. 6(E)
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 40
40 A lessor shall provide to the Minister, before June 1 in each year, a detailed report on all capital leases outstanding with that lessor as at March 31 in the year of the report, including the following information for each capital lease registered with the Minister in accordance with these Regulations: (a) the registration number assigned to the capital lease by the Minister; (b) the lessee’s name; and (c) the outstanding balance of the capital lease as at March 31 in that year.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 41
41 If the lessor does not provide a report in accordance with section 40, the Minister is not liable after the day on which the report was due, for any loss sustained as a result of a lessee’s default on a capital lease for which the information specified in any of paragraphs 40(a) to (c) was not provided.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 42
42 For the purposes of these Regulations and subject to section 21, the outstanding balance of a capital lease becomes due and payable and the lessee is in default as of the day on which the lessee fails to comply with any material condition of the capital lease.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 43
43 (1) If a lessee is in default under section 42, and the default has not been corrected to the satisfaction of the lessor, the lessor shall give the lessee notice of the default in writing and demand that the lessee comply with the condition of the capital lease within the period specified in the notice. (2) If the lessee fails to comply with the condition within the period specified, the lessor shall formally demand payment of the outstanding balance of a capital lease within the period specified in the demand. (3) If the outstanding balance of a capital lease is not paid within the period specified, the lessor shall take any of the following measures to minimize the loss sustained as a result of a lessee’s default on the capital lease or that will maximize the amount recovered: (a) collect the outstanding balance of the capital lease; (b) fully realize any security, guarantee or suretyship; (c) realize on any insurance policy under which the lessor is the beneficiary; (d) fully implement a compromise settlement with the lessee or with a guarantor or surety or any other person on behalf of the lessee, guarantor or surety; and (e) subject to subsection (4), take legal proceedings, including the enforcement of any resulting judgment, if the estimated cost of the proceedings does not exceed the estimated amount that may be recovered. (4) If the lessee is a sole proprietor or a partnership, the lessor may execute a judgment by realizing on the assets of the sole proprietor or partners, other than the assets of the small business in respect of which the capital lease is entered into, in an amount no greater than the aggregate of (a) 25% of the total financing amount of the capital lease, (b) interest on the judgment, (c) taxed costs for, or incidental to, the legal proceedings against the lessee, and (d) legal fees and disbursements, other than costs referred to in paragraph (c), and other costs incurred by the lessor for services rendered by persons other than the lessor’s employees for the purpose of legal proceedings against the lessee. SOR/2006-272, s. 7(F)
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 44
 calculation of the scheduled payments in respect of the original capital lease; B is equal to the rate of interest on Government of Canada bonds in effect on the day the original capital lease was entered into; C is equal to 1.25%, being the rate of the administration fee referred to in subsection 14(2); and D is equal to the rate of interest on Government of Canada bonds in effect on the day the new capital lease is entered into. (10) The amount of interest referred to in subparagraph (7)(a)(ii) shall be calculated on the outstanding balance, taking into consideration any proceeds realized from the taking of any measures described in subsection 43(3), as follows: (a) in respect of the period beginning on the day of default and ending on the expiry of the period specified in the notice referred to in subsection 43(1), at the annual imputed rate of interest used to calculate the scheduled payments in respect of a capital lease; (b) in respect of the six-month period immediately after the period referred to in paragraph (a), at the annual imputed rate of interest used to calculate the scheduled payments in respect of a capital lease on the first day of the six-month period; (c) in respect of the six-month period immediately after the period referred to in paragraph (b), at a rate of interest equal to one half of the rate of interest referred to in that paragraph; and (d) in respect of the 24-month period immediately after the period referred to in paragraph (c), at a rate of interest of 0%. (11) If the total financing amount of a capital lease referred to in subparagraph 12(1)(d)(i) is not equal to the total financing amount set out in the capital lease, the eligible loss calculated in accordance with subsection (7) shall be calculated on the portion of the capital lease that was registered with the Minister in accordance with these Regulations. SOR/2006-272, s. 8
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 45
45 (1) A lessor may make an interim claim to the Minister for loss, calculated in accordance with subsection 44(7), sustained as a result of a lessee’s default on a capital lease, if the lessor has taken all of the measures described in subsection 43(3) that are applicable and either (a) paragraph 43(3)(b) applies but the guarantee or suretyship has not been fully realized; or (b) paragraph 43(3)(d) applies but the compromise settlement has not been fully implemented. (2) The Minister shall pay the interim claim as if the lessor had fully realized the guarantee or suretyship at the time the interim claim was made or fully implemented the compromise settlement. (3) Subsections 44(2) to (11) apply, with such modifications as the circumstances require, to an interim claim. (4) If, after the interim claim is paid, the lessor, by realizing the guarantee or suretyship or fully implementing the compromise settlement, recovers 100% of the guarantee or suretyship or compromise settlement, the lessor shall so notify the Minister and the interim claim is deemed to be a final claim. (5) If, after the interim claim is paid, the lessor, by realizing the guarantee or suretyship or fully implementing the compromise settlement, recovers less than 100% of the guarantee or suretyship or compromise settlement, the lessor may make a final claim under section 44 for the difference.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 46
46 If the Minister pays a lessor for loss sustained as a result of a lessee’s default on a capital lease, Her Majesty is subrogated, from the payment of the final claim, to the rights of the lessor, up to the amount paid by the Minister.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 47
47 (1) The Minister may, after giving at least 21 days notice in writing to a lessor, conduct an audit or examination of the lessor’s documents, records and books of account to verify that these Regulations are being complied with in respect of a capital lease, including that the lessor has acted in accordance with the due diligence requirements referred to in section 19 in respect of the approval and administration of the capital lease and that the documents submitted to the Minister in respect of the lessor are accurate and complete. (2) The Minister is authorized to designate persons to carry out audits or examinations under these Regulations. A person designated by the Minister may, at any reasonable time, consult the lessor’s documents, records and books of account in respect of a capital lease. (3) Every lessor shall, for the purpose of an audit or examination under these Regulations, give all reasonable assistance to any person designated by the Minister to carry out the audit or examination, provide access to all relevant sites, answer, orally or in writing, all questions relating to the subject-matter of the audit or examination and provide all information and documents in their possession and all copies required for the purpose of the audit or examination. The designated person shall not remove the documents or copies from the relevant sites without the permission of the lessor. (4) The Minister shall provide the lessor with a copy of the report of the audit or examination within 21 days after the report is completed. (5) If a lessor refuses or intentionally fails to comply with any requirement of this section, the Minister may notify the lessor in writing that the Minister is not liable under these Regulations to make any payment to the lessor for any loss sustained as a result of a lessee’s default on any capital lease entered into by the lessor. SOR/2006-272, s. 9(E)
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 48
48 The Minister may request the lessor or the lessee to provide any information or documentation related to the capital lease for the purpose of evaluating these Regulations.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 49
49 These Regulations shall cease to have effect on April 1, 2007.
Canada Small Business Financing (Establishment and Operation of Capital Leasing Pilot Project) Regulations — 50
50 (1) Subject to subsection (2), these Regulations come into force on April 1, 2002. (2) The definition lessor in subsection 1(1), and sections 17 and 18 come into force on the day on which these Regulations are registered.
Supervisory Information (Trust and Loan Companies) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 503.1 a and paragraph 531(a) of the Trust and Loan Companies Act b , hereby makes the annexed Supervisory Information (Trust and Loan Companies) Regulations . a S.C. 1999, c. 28, s. 144 b S.C. 1991, c. 45
Supervisory Information (Trust and Loan Companies) Regulations — 1
1 (1) For the purposes of section 503.1 of the Trust and Loan Companies Act , the following information or any component of that information, is prescribed supervisory information in relation to a company: (a) any rating assigned by the Superintendent to the company to assess its financial condition and any other such rating that is substantially based on information obtained from the Superintendent; (b) any stage of intervention assigned to the company under the Guide to Intervention for Federal Financial Institutions ; (c) any order made in respect of the company under subsection 473(3) of the Trust and Loan Companies Act , any prudential agreement entered into by the company under section 506.1 of that Act or any direction issued to it under section 507 of that Act; (d) any report prepared by or at the request of the Superintendent or any recommendation made by the Superintendent as a result of an annual or special examination or other supervisory review of the company, including any related correspondence to or from the directors or officers of the company; and (e) [Repealed, SOR/2011-196, s. 33] (f) any category in which the company is classified under the Canada Deposit Insurance Corporation Differential Premiums By-law and any premium rate assigned to it and any annual premium determined for it under that By-law. (2) For the purposes of section 503.1 of the Trust and Loan Companies Act , the information prescribed by the following regulations is prescribed supervisory information in relation to an affiliate of a company: (a) the Supervisory Information (Banks) Regulations , if the affiliate is a bank to which the Bank Act applies; (b) the Supervisory Information (Authorized Foreign Banks) Regulations , if the affiliate is an authorized foreign bank to which the Bank Act applies; (c) the Supervisory Information (Cooperative Credit Associations) Regulations , if the affiliate is an association to which the Cooperative Credit Associations Act applies; (d) the Supervisory Information (Insurance Companies) Regulations , if the affiliate is a company, society, foreign company or provincial company to which the Insurance Companies Act applies; (e) the Supervisory Information (Bank Holding Companies) Regulations , if the affiliate is a bank holding company to which the Bank Act applies; and (f) the Supervisory Information (Insurance Holding Companies) Regulations , if the affiliate is an insurance holding company to which the Insurance Companies Act applies. SOR/2001-485, s. 1; SOR/2011-196, s. 33
Supervisory Information (Trust and Loan Companies) Regulations — 2
2 Subject to sections 3 and 4, a company shall not, directly or indirectly, disclose information referred to in section 1. SOR/2011-196, s. 34
Supervisory Information (Trust and Loan Companies) Regulations — 3
3 A company may disclose information referred to in section 1 to its affiliates or to its directors, officers, employees, auditors, securities underwriters or legal advisors, or to those of its affiliates, if the company ensures that the information remains confidential. SOR/2011-196, s. 34
Supervisory Information (Trust and Loan Companies) Regulations — 4
4 A company or any of its affiliates may disclose information referred to in paragraph 1(1)(c) if the company or affiliate considers the information to contain a material fact or material change that is required by the securities laws of the relevant jurisdiction to be disclosed. SOR/2011-196, s. 35(E)
Supervisory Information (Trust and Loan Companies) Regulations — 5
5 These Regulations come into force on the day on which they are registered.
Supervisory Information (Insurance Companies) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 672.1 a and paragraph 703(a) of the Insurance Companies Act b , hereby makes the annexed Supervisory Information (Insurance Companies) Regulations . a S.C. 1999, c. 28, s. 126 b S.C. 1991, c. 47
Supervisory Information (Insurance Companies) Regulations — 1
1 In these Regulations, company means a company, society, foreign company or provincial company.
Supervisory Information (Insurance Companies) Regulations — 2
2 (1) For the purposes of section 672.1 of the Insurance Companies Act , the following information or any component of that information is prescribed supervisory information in relation to a company: (a) any rating assigned by the Superintendent to the company to assess its financial condition and any other such rating that is substantially based on information obtained from the Superintendent; (b) any stage of intervention assigned to the company (i) in the case of a life company, under the Supervisory Guide Applicable to Federally Regulated Life Insurance Companies , and (ii) in the case of a property and casualty company or a marine company, under the Supervisory Guide Applicable to Federally Regulated Insurance Companies ; (c) any order made in respect of the company under subsection 515(3), 516(4), 608(4) or 609(2) of the Insurance Companies Act , any prudential agreement entered into by the company under section 675.1 of that Act or any direction issued to it under section 676 of that Act; and (d) any report prepared by or at the request of the Superintendent or any recommendation made by the Superintendent as a result of an annual or special examination or other supervisory review of the company, including any related correspondence to or from the directors or officers of the company. (e) [Repealed, SOR/2011-196, s. 20] (2) For the purposes of section 672.1 of the Insurance Companies Act , the information prescribed by the following regulations is prescribed supervisory information in relation to an affiliate of a company: (a) the Supervisory Information (Banks) Regulations , if the affiliate is a bank to which the Bank Act applies; (b) the Supervisory Information (Authorized Foreign Banks) Regulations , if the affiliate is an authorized foreign bank to which the Bank Act applies; (c) the Supervisory Information (Cooperative Credit Associations) Regulations , if the affiliate is an association to which the Cooperative Credit Associations Act applies; (d) the Supervisory Information (Trust and Loan Companies) Regulations , if the affiliate is a company to which the Trust and Loan Companies Act applies; (e) the Supervisory Information (Bank Holding Companies) Regulations , if the affiliate is a bank holding company to which the Bank Act applies; and (f) the Supervisory Information (Insurance Holding Companies) Regulations , if the affiliate is an insurance holding company to which the Insurance Companies Act applies. SOR/2001-483, s. 1; SOR/2009-296, s. 23; SOR/2011-196, s. 20
Supervisory Information (Insurance Companies) Regulations — 3
3 Subject to sections 4 and 5, a company shall not, directly or indirectly, disclose information referred to in section 2. SOR/2011-196, s. 21
Supervisory Information (Insurance Companies) Regulations — 4
4 A company may disclose information referred to in section 2 to its affiliates or to its directors, officers, employees, auditors, securities underwriters or legal advisors, or to those of its affiliates, if the company ensures that the information remains confidential. SOR/2011-196, s. 21
Supervisory Information (Insurance Companies) Regulations — 5
5 A company or any of its affiliates may disclose information referred to in paragraph 2(1)(c) if the company or affiliate considers the information to contain a material fact or material change that is required by the securities laws of the relevant jurisdiction to be disclosed. SOR/2011-196, s. 22(E)
Supervisory Information (Insurance Companies) Regulations — 6
6 These Regulations come into force on the day on which they are registered.
Supervisory Information (Cooperative Credit Associations) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 435.1 a and paragraph 463(a) of the Cooperative Credit Associations Act b , hereby makes the annexed Supervisory Information (Cooperative Credit Associations) Regulations . a S.C. 1999, c. 28, s. 117 b S.C. 1991, c. 48
Supervisory Information (Cooperative Credit Associations) Regulations — 1
1 (1) For the purposes of section 435.1 of the Cooperative Credit Associations Act , the following information or any component of that information is prescribed supervisory information in relation to an association: (a) any rating assigned by the Superintendent to the association to assess its financial condition and any other such rating that is substantially based on information obtained from the Superintendent; (b) any stage of intervention assigned to the association on the basis of the principles set out in the Guide to Intervention for Federal Financial Institutions ; (c) any order made in respect of the association under subsection 409(3) of the Cooperative Credit Associations Act , any prudential agreement entered into by the association under section 438.1 of that Act or any direction issued to it under section 439 of that Act; (d) any report prepared by or at the request of the Superintendent or any recommendation made by the Superintendent as a result of an annual or special examination or other supervisory review of the association, including any related correspondence to or from the directors or officers of the association. (2) For the purposes of section 435.1 of the Cooperative Credit Associations Act , the information prescribed by the following regulations is prescribed supervisory information in relation to an affiliate of an association: (a) the Supervisory Information (Banks) Regulations , if the affiliate is a bank to which the Bank Act applies; (b) the Supervisory Information (Authorized Foreign Banks) Regulations , if the affiliate is an authorized foreign bank to which the Bank Act applies; (c) the Supervisory Information (Insurance Companies) Regulations , if the affiliate is a company, society, foreign company or provincial company to which the Insurance Companies Act applies; (d) the Supervisory Information (Trust and Loan Companies) Regulations , if the affiliate is a company to which the Trust and Loan Companies Act applies; (e) the Supervisory Information (Bank Holding Companies) Regulations , if the affiliate is a bank holding company to which the Bank Act applies; and (f) the Supervisory Information (Insurance Holding Companies) Regulations , if the affiliate is an insurance holding company to which the Insurance Companies Act applies. SOR/2001-482, s. 1; SOR/2011-196, s. 12
Supervisory Information (Cooperative Credit Associations) Regulations — 2
2 Subject to sections 3 and 4, an association shall not, directly or indirectly, disclose information referred to in section 1. SOR/2011-196, s. 13