33.1 (1) In this section, “third-party funding agreement” means an agreement in which a funder who is not a party to a proceeding under this Act agrees to indemnify the representative plaintiff or provide money to pursue the proceeding under this Act, in return for a share of any monetary award or settlement funds or for any other consideration. 2020, c. 11, Sched. 4, s. 31. Contingent on court approval (2) A third-party funding agreement is subject to the approval of the court, obtained on a motion of the representative plaintiff made as soon as practicable after the agreement is entered into, with notice to the defendant. 2020, c. 11, Sched. 4, s. 31. No force or effect unless approved (3) A third-party funding agreement that is not approved by the court is of no force or effect. 2020, c. 11, Sched. 4, s. 31. Agreement to be provided to defendant and filed (4) For the purposes of the motion, the representative plaintiff shall serve on the defendant, or provide in any other way the court orders, a copy of the third-party funding agreement, and shall file the copy with the court. 2020, c. 11, Sched. 4, s. 31. Permissible redaction (5) The representative plaintiff may, subject to the regulations, redact from the copy of the third-party funding agreement provided and filed under subsection (4) information that may reasonably be considered to confer a tactical advantage on the defendant, but no other information shall be redacted from the copy. 2020, c. 11, Sched. 4, s. 31. Agreement to be provided to judge (6) The representative plaintiff shall provide to the judge who will be presiding at the hearing of the motion a copy of the complete and unredacted third-party funding agreement, which shall not form part of the court file. 2020, c. 11, Sched. 4, s. 31. Requirement to disclose (7) The court may order the representative plaintiff to disclose to a defendant any information in the third-party funding agreement that has been redacted in accordance with subsection (5). 2020, c. 11, Sched. 4, s. 31. Submissions (8) The defendant is entitled to make submissions at the hearing of the motion. 2020, c. 11, Sched. 4, s. 31. Factors (9) The court shall not approve a third-party funding agreement unless, (a)  the court is satisfied that, (i)  the agreement, including indemnity for costs and amounts payable to the funder under the agreement, is fair and reasonable, (ii)  the agreement will not diminish the rights of the representative plaintiff to instruct the solicitor or control the litigation or otherwise impair the solicitor-client relationship, (iii)  the funder is financially able to satisfy an adverse costs award in the proceeding, to the extent of the indemnity provided under the agreement, and (iv)  any prescribed requirements and other relevant requirements are met; and (b)  it is a term of the agreement that the funder shall be subject to, (i)  the same confidentiality requirements in respect of confidential or privileged information in the proceeding to which the representative plaintiff would be subject, and (ii)  the deemed undertaking rules set out under the rules of court, as if the funder were a party to the proceeding. 2020, c. 11, Sched. 4, s. 31. Same, independent legal advice (10) In determining whether a third-party funding agreement meets the requirements of clause (9) (a), the court shall consider whether the representative plaintiff received independent legal advice with respect to the agreement. 2020, c. 11, Sched. 4, s. 31. Indemnity for costs (11) If costs are ordered to be paid by the representative plaintiff, the defendant has the right to recover the costs directly from the funder, to the extent of the indemnity provided under an approved third-party funding agreement. 2020, c. 11, Sched. 4, s. 31. Security for costs (12) The defendant is entitled, on motion, to obtain from the funder security for costs to the extent of the indemnity provided under an approved third-party funding agreement, if, (a)  the funder is ordinarily resident outside Ontario; (b)  the defendant has an order against the funder for costs in the same or another proceeding that remain unpaid in whole or in part; or (c)  there is good reason to believe that the funder has insufficient assets in Ontario to pay the costs. 2020, c. 11, Sched. 4, s. 31. Directions (13) The court may give any necessary directions respecting a dispute or question that arises in relation to a third-party funding agreement. 2020, c. 11, Sched. 4, s. 31. Changes to agreements (14) This section applies, with necessary modifications, with respect to any changes to an approved third-party funding agreement that are agreed to by the parties to it. 2020, c. 11, Sched. 4, s. 31. Notice of termination (15) The representative plaintiff shall give notice to the court and to the defendant if, (a)  an approved third-party funding agreement is terminated; or (b)  the funder becomes insolvent. 2020, c. 11, Sched. 4, s. 31. Non-application (16) This section does not apply with respect to funding provided out of the Class Proceedings Fund established under the Law Society Act. 2020, c. 11, Sched. 4, s. 31. Section Amendments with date in force (d/m/y) 2020, c. 11, Sched. 4, s. 31 - 01/10/2020