59 (1) If the Commission considers it expedient for the due administration of Ontario commodity futures law or the regulation of the commodity futures markets in Ontario or expedient to assist in the due administration of the commodity futures laws or the regulation of the commodity futures markets in another jurisdiction, the Commission may, (a)  direct a person or company having on deposit or under its control or for safekeeping any funds, securities or property of any person or company to retain those funds, securities or property; (b)  direct a person or company to refrain from withdrawing any funds, securities or other property from another person or company who has them on deposit, under control or for safekeeping; (c)  direct a person or company to maintain funds, securities or other property, and to refrain from disposing of, transferring, dissipating or otherwise dealing with or diminishing the value of those funds, securities or other property; or (d)  direct a person or company holding or having under its control a contract of any person or company to liquidate the contract and to retain the proceeds of liquidation. 2014, c. 7, Sched. 5, s. 3 (1). Duration (1.1) A direction under subsection (1) applies until the Commission in writing revokes the direction or consents to release funds, securities or property from the direction, or until the Superior Court of Justice orders otherwise. 2014, c. 7, Sched. 5, s. 3 (1). Application (2) A direction under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the direction.  1999, c. 9, s. 41. Exclusions (3) A direction under subsection (1) shall not apply to funds, securities or property in a recognized clearing house or to securities in process of transfer by a transfer agent unless the direction so states.  1999, c. 9, s. 41. Certificate of pending litigation (4) The Commission may order that a direction under subsection (1) be certified to a land registrar or mining recorder and that it be registered or recorded against the lands or claims identified in the direction, and on registration or recording of the certificate it shall have the same effect as a certificate of pending litigation.  1999, c. 9, s. 41. Review by court (5) As soon as practicable and not later than 10 days after a direction is issued under subsection (1), the Commission shall serve and file a notice of application in the Superior Court of Justice to continue the direction or for such other order as the court considers appropriate.  2010, c. 26, Sched. 3, s. 1. Grounds for continuance or other order (5.1) An order may be made under subsection (5) if the court is satisfied that the order would be reasonable and expedient in the circumstances, having due regard to the public interest and, (a)  the due administration of Ontario commodity futures law or the commodity futures laws of another jurisdiction; or (b)  the regulation of commodity futures markets in Ontario or another jurisdiction. 2014, c. 7, Sched. 5, s. 3 (2). Notice (6) A direction under subsection (1) may be made without notice but, in that event, copies of the direction shall be sent forthwith by such means as the Commission may determine to all persons and companies named in the direction.  1999, c. 9, s. 41. Clarification or revocation (7) A person or company directly affected by a direction may apply to the Commission for clarification or to have the direction varied or revoked.  1999, c. 9, s. 41. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 41 - 14/12/1999 2010, c. 26, Sched. 3, s. 1 - 8/12/2010 2014, c. 7, Sched. 5, s. 3 (1, 2) - 24/07/2014