PART XIV AGENTS, BROKERS AND ADJUSTERS
Revocation or suspension of agent’s licence
392.5 (1) The Chief Executive Officer may revoke or suspend an agent’s licence to act as an insurance agent if the agent has failed to comply with this Act, the regulations, the Authority rules or a condition of the licence. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22; 2021, c. 8, Sched. 5, s. 5. Same (2) The Chief Executive Officer may revoke or suspend an agent’s licence if any prescribed grounds for revoking or suspending a licence, or for refusing to issue a licence, exist. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Proposal to revoke or suspend (3) If the Chief Executive Officer proposes to revoke or suspend an agent’s licence under this section without the agent’s consent, the Chief Executive Officer shall take the steps required by section 407.1. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Expedited order to revoke or suspend (4) The Chief Executive Officer may, by order, revoke or suspend an agent’s licence in any of the following circumstances, without taking the steps required by section 407.1: 1.  The agent fails to pay a fee required under this Act or an administrative penalty imposed under Part XVIII.1. 2.  Such other circumstances as may be prescribed. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Effect of suspension (5) During a suspension, the agent is not authorized to act as an insurance agent in Ontario. 2014, c. 9, Sched. 3, s. 15. Interim order suspending licence (6) If, in the Chief Executive Officer’s opinion, the interests of the public may be adversely affected by any delay in the revocation or suspension of an agent’s licence as a result of the steps required by section 407.1, the Chief Executive Officer may, without notice, make an interim order suspending the licence and may do so before or after giving the notice required by section 407.1 with respect to the proposal to revoke or suspend the licence. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22, 23. Effect of interim order (7) An interim order suspending an agent’s licence takes effect immediately and remains in effect until the expiry of the period for requesting a hearing under section 407.1 about the Chief Executive Officer’s proposal to revoke or suspend the licence. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 23. Same (8) Despite subsection (7), if the Chief Executive Officer does not give the agent the notice required by section 407.1 within 21 days after the day on which the interim order is made, the interim order expires at the end of the 21-day period. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Extension of interim order (9) If the agent requests a hearing about the Chief Executive Officer’s proposal to revoke or suspend the licence, the Chief Executive Officer may extend the interim order until the proposal is finally determined. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22, 23. Revocation of order re: suspension (10) The Chief Executive Officer may, at any time, revoke a suspension order or an interim order suspending an agent’s licence. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Reinstatement of licence (11) If a licence is revoked for non-payment of a fee or administrative penalty described in paragraph 1 of subsection (4), the Chief Executive Officer may reinstate the licence upon payment of the fee or penalty. 2014, c. 9, Sched. 3, s. 15; 2018, c. 8, Sched. 13, s. 22. Section Amendments with date in force (d/m/y) 2014, c. 9, Sched. 3, s. 15 - 01/01/2015 2017, c. 34, Sched. 21, s. 28 - no effect - see: 2021, c. 8, Sched. 5, s. 13 - 27/04/2021 2018, c. 8, Sched. 13, s. 22, 23 - 08/06/2019; CTS 04 SE 18 - 1 2021, c. 8, Sched. 5, s. 5 - 01/04/2022 Automatic suspension of agent’s licence