jswizzle3737/ontario_laws_and_regs huggingface dataset:
34 (1) Upon application by or on behalf of a commodity futures exchange that is situate outside Ontario, the Commission shall recognize such commodity futures exchange where it is satisfied that to do so would not be prejudicial to the public interest and in making its decision shall take into account whether, (a)  the clearing and other arrangements made and the financial condition of the commodity futures exchange, its clearing house and its members are such as to provide reasonable assurance that all obligations arising out of contracts entered into on such commodity futures exchange will be met; (b)  the rules and regulations applicable to exchange members and clearing house members are in the public interest and are actively enforced; (c)  floor trading practices are fair and properly supervised; (d)  adequate measures have been taken to prevent manipulation and excessive speculation; (e)  adequate provision has been made to record and publish details of trading including volume and open interest; (f)  the exchange and its clearing house have undertaken to comply with section 35; and (g)  the exchange and its clearing house are subject to appropriate government controls.  R.S.O. 1990, c. C.20, s. 34 (1). Hearing (2) The Commission shall not refuse to recognize a commodity futures exchange under this Part without giving the applicant an opportunity to be heard.  R.S.O. 1990, c. C.20, s. 34 (2).
35 Every commodity futures exchange recognized by the Commission under section 34 and its clearing house shall file with the Commission all by-laws, rules, regulations and policies forthwith after the by-law, rule, regulation or policy is approved by the board of directors of the commodity futures exchange or clearing house.  R.S.O. 1990, c. C.20, s. 35.
36 (1) Upon application by or on behalf of a commodity futures exchange registered by the Commission, or recognized by the Commission under this Part, and the filing of a copy of all terms and conditions of a contract that it is proposed be traded in Ontario, the Director shall accept the form of contract where he or she is satisfied that to do so would not be prejudicial to the public interest and in making his or her decision shall take into account whether, (a)  more than occasional use is made or can be reasonably expected to be made of the contract for hedging transactions; (b)  with respect to a commodity futures contract each term or condition is in conformity with normal commercial practices of the trade in the commodity or if not in such conformity there is reasonable justification therefor; (c)  with respect to a commodity futures contract satisfactory levels of margin, daily price limits, daily trading limits and position limits are imposed by the commodity futures exchange; (d)  with respect to a commodity futures option the form of the commodity futures contract that is the subject of the option has been accepted under this Part; and (e)  with respect to a commodity futures option performance on exercise of the option is reasonably assured by established rules and procedures that are actively enforced.  R.S.O. 1990, c. C.20, s. 36 (1). Hearing (2) The Director shall not refuse to accept the form of contract without giving the applicant an opportunity to be heard.  R.S.O. 1990, c. C.20, s. 36 (2).
37 (1) It is a condition of acceptance of the form of a contract under section 36 that the commodity futures exchange, (a)  file with the Commission copies of all current contract terms and conditions; and (b)  unless the Director by order modifies the requirement, make copies of all current contract terms and conditions available to registrants through an agent in Ontario designated by the commodity futures exchange.  R.S.O. 1990, c. C.20, s. 37 (1). Idem (2) Copies of amendments or additions to contract terms and conditions shall be filed with the Commission and supplied to the agent designated by the commodity futures exchange forthwith after the amendment or addition is approved by the board of directors of the commodity futures exchange.  R.S.O. 1990, c. C.20, s. 37 (2). Idem (3) The Director shall not accept the form of a contract until advised by the commodity futures exchange of the name and address of the agent designated for the purposes of subsection (1).  R.S.O. 1990, c. C.20, s. 37 (3). Idem (4) The commodity futures exchange shall, within five days of the event, notify the Director of any change in the name or address of the agent designated for the purposes of subsection (1).  R.S.O. 1990, c. C.20, s. 37 (4).
38 (1) The Commission may, upon the application of an interested person or company, rule that an intended trade is not subject to section 22 or 33 where it is satisfied that to do so will not be prejudicial to the public interest and may impose such terms and conditions as are considered necessary.  R.S.O. 1990, c. C.20, s. 38 (1). Ruling final (2) A decision of the Commission under this section is final and there is no appeal therefrom.  R.S.O. 1990, c. C.20, s. 38 (2). Part XI (s. 39) Repealed:  1999, c. 9, s. 36. 39. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 36 - 14/12/1999 PART XII   TRADING GENERALLY
40 (1) Every registered dealer or adviser shall furnish each prospective customer prior to the opening of an account with a written statement in a form approved by the Commission which will, (a)  explain the nature of, and risks inherent in trading in contracts and obligations assumed by the customer upon entering a contract; (b)  advise the client to request and study the terms and conditions of the contract; and (c)  furnish details concerning commissions and other charges levied by the dealer or adviser.  R.S.O. 1990, c. C.20, s. 40 (1); 1997, c. 19, s. 1 (3). Terms and conditions (2) Except where the Director by order modifies the requirement, every registered dealer or advisor upon the request of a client shall furnish the client with a copy of all current terms and conditions of any contract the form of which has been accepted by the Director under Part X.  R.S.O. 1990, c. C.20, s. 40 (2). Section Amendments with date in force (d/m/y) 1997, c. 19, s. 1 (3) - 10/10/1997
41 (1) Subject to subsections (2) and (3), every registered dealer who acts as an agent in connection with a trade in a commodity futures contract shall require from the customer a margin of not less than the minimum prescribed under the by-laws, rules or regulations of the commodity futures exchange upon which the contract is traded.  R.S.O. 1990, c. C.20, s. 41 (1). Idem (2) Subject to subsection (3), where the Commission has made an order with respect to levels of margin under section 20, every registered dealer who acts as an agent in connection with a trade in a commodity futures contract shall require from the customer a margin of not less than the minimum prescribed thereunder.  R.S.O. 1990, c. C.20, s. 41 (2). Margin greater than minimum (3) Despite subsections (1) and (2), a registered dealer may require from the customer a margin greater than that prescribed under subsection (1) or (2).  R.S.O. 1990, c. C.20, s. 41 (3).
42 (1) Every registered dealer who has acted as an agent in connection with any trade in a commodity futures contract, including a trade upon the exercise of a commodity futures option, shall promptly send by prepaid mail or deliver to the customer a written confirmation of the transaction, setting forth, (a)  the date of the transaction; (b)  the commodity and quantity bought or sold; (c)  the commodity futures exchange upon which the contract was traded; (d)  the delivery month and year; (e)  the price at which the contract was entered into; (f)  the name of the dealer, if any, used by the registered dealer as its agent to effect the trade; and (g)  the name of the salesperson, if any, in the transaction.  R.S.O. 1990, c. C.20, s. 42 (1). Coded identification (2) For the purposes of clauses (1) (f) and (g), a person or company or a salesperson may be identified in a written confirmation by means of a code or symbols if the written confirmation also contains a statement that the name of the person, company or salesperson will be furnished to the customer on request.  R.S.O. 1990, c. C.20, s. 42 (2). Filing of code (3) Where a person or company uses a code or symbols for identification in a confirmation under subsection (1), the person or company shall forthwith file the code or symbols and their meaning, and shall notify the Commission within five days of any change in or addition to the code or symbols or their meaning.  R.S.O. 1990, c. C.20, s. 42 (3). Disclosure of clients (4) Every dealer who has acted as agent in connection with any trade in a commodity futures contract shall promptly disclose to the Commission, upon request by the Commission, the name of the person or company from or to or through whom the commodity was bought or sold.  R.S.O. 1990, c. C.20, s. 42 (4).
43 Every registered dealer who has acted as an agent in connection with a liquidating trade in a commodity futures contract shall promptly send by prepaid mail or deliver to the customer in addition to the written confirmation required under section 42, a statement of purchase and sale setting forth, (a)  the dates of the initial transaction and liquidating trade; (b)  the commodity and quantity bought and sold; (c)  the commodity futures exchange upon which the contracts were traded; (d)  the delivery month and year; (e)  the prices on the initial transaction and on the liquidating trade; (f)  the gross profit or loss on the transactions; (g)  the commission; and (h)  the net profit or loss on the transactions.  R.S.O. 1990, c. C.20, s. 43.
44 So long as any unexpired and unexercised commodity futures option or open commodity futures contract is outstanding in a customer’s account, every registered dealer shall promptly send by prepaid mail or deliver to each customer a written monthly statement, setting forth, (a)  the opening cash balance for the month in the customer’s account; (b)  all deposits, credits, withdrawals and debits to the customer’s account; (c)  the cash balance in the customer’s account; (d)  each unexpired and unexercised commodity futures option; (e)  the striking price of each unexpired and unexercised commodity futures option; (f)  each open commodity futures contract; (g)  the price at which each open commodity futures contract was entered into.  R.S.O. 1990, c. C.20, s. 44.
45 (1) Every registered dealer who has acted as an agent in connection with any trade in a commodity futures option shall promptly send by prepaid mail or deliver to the customer a written confirmation of the transaction setting forth, (a)  the date of the transaction; (b)  the type and number of commodity futures options; (c)  the commodity futures exchange upon which the contract was traded; (d)  the premium; (e)  the commodity futures contract that is the subject of the commodity futures option; (f)  the delivery month and year of the commodity futures contract that is the subject of the commodity futures option; (g)  the declaration date; (h)  the striking price; (i)  the name of the dealer, if any, used by the registered dealer as its agent to effect the trade; (j)  the commission, if any, charged in respect of the trade; and (k)  the name of the salesperson, if any, in the transaction.  R.S.O. 1990, c. C.20, s. 45 (1). Coded identification (2) For the purposes of clauses (1) (i) and (k), a person or company or a salesperson may be identified in a written confirmation by means of a code or symbols if the written confirmation also contains a statement that the name of the person, company or salesperson will be furnished to the customer on request.  R.S.O. 1990, c. C.20, s. 45 (2). Filing of code (3) Where a person or company uses a code or symbols for identification in a confirmation under subsection (1), the person or company shall forthwith file the code or symbols and their meaning, and shall notify the Commission within five days of any change in or addition to the code or symbols or their meaning.  R.S.O. 1990, c. C.20, s. 45 (3). Disclosure by agent (4) Every dealer who has acted as agent in connection with any trade in a commodity futures option shall promptly disclose to the Commission, upon request by the Commission, the name of the person or company from or through whom the commodity futures option was obtained.  R.S.O. 1990, c. C.20, s. 45 (4).
46 (1) All money, securities, property and proceeds of loans received or advanced by a registered dealer to margin, guarantee or secure the trades or contracts of customers and all funds accruing to customers, shall be segregated for the benefit of the customers for whom they are held, and the dealer shall separately account for all such money, securities, property, proceeds and funds so received or advanced, and shall not knowingly commingle such money, securities, property, proceeds and funds with the dealer’s own money, securities, property and funds.  R.S.O. 1990, c. C.20, s. 46 (1). Application (2) Subsection (1) does not apply to securities or property that are subject to a lien or charge in favour of the registered dealer under a written agreement, in a form approved by the Commission, to secure loans referred to in subsection (1).  R.S.O. 1990, c. C.20, s. 46 (2); 1997, c. 19, s. 1 (3). Commingling of segregated funds (3) Money, securities, property, proceeds and funds segregated under subsection (1) for the benefit of customers may be commingled.  R.S.O. 1990, c. C.20, s. 46 (3). Registered dealer not to use funds (4) No registered dealer shall knowingly use money, securities, property, proceeds or funds received from, advanced to or held for any customer to margin, guarantee or secure the trades or contracts or to secure or extend the credit of any customer other than the customer for whom such money, securities, property, proceeds or funds are held.  R.S.O. 1990, c. C.20, s. 46 (4). Residual financial interest (5) Despite subsection (1), a registered dealer may have a residual financial interest in a customer’s account and, from time to time, may advance from the dealer’s own funds sufficient funds to prevent any and all customer’s accounts from becoming undermargined.  R.S.O. 1990, c. C.20, s. 46 (5). Exemption on terms and conditions (6) Upon application by an interested person or company, the Commission may exempt any registered dealer or class of registered dealers from subsection (1) or (4), on such terms and conditions as in the opinion of the Commission provide reasonable protection for customers.  R.S.O. 1990, c. C.20, s. 46 (6). Exception (7) Despite subsection (1), where a registered dealer has a residual financial interest in a customer’s account or has advanced the dealer’s own funds to prevent any customer’s account from becoming undermargined, the dealer may draw upon that account or any other accounts of the same customer to the dealer’s own order to the extent of the dealer’s residual financial interest therein or to the extent of the actual advances made.  R.S.O. 1990, c. C.20, s. 46 (7). Section Amendments with date in force (d/m/y) 1997, c. 19, s. 1 (3) - 10/10/1997
47 Every registered dealer shall deliver to the Commission, at such time or times as the Commission may require, reports as to transactions in contracts on the dealer’s own account or on behalf of any other person or company in such form as the Commission may prescribe.  R.S.O. 1990, c. C.20, s. 47.
48 (1) The Commission may, by order, suspend, cancel, restrict or impose terms and conditions upon the right of any person or company named or described in the order to, (a)  call at any residence; or (b)  telephone from within Ontario to any residence within or outside Ontario, for the purpose of trading in any contract.  R.S.O. 1990, c. C.20, s. 48 (1); 1999, c. 9, s. 37 (1). Hearing (2) The Commission shall not make an order under subsection (1) without giving the person or company affected an opportunity to be heard.  1999, c. 9, s. 37 (2). “residence” defined (3) In this section, “residence” includes any building or part of a building in which the occupant resides either permanently or temporarily and any premises appurtenant thereto.  R.S.O. 1990, c. C.20, s. 48 (3). What constitutes calls (4) For the purposes of this section, a person or company shall be deemed conclusively to have called or telephoned where an officer, director or salesperson of the person or company calls or telephones on behalf of the person or company.  R.S.O. 1990, c. C.20, s. 48 (4). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 37 (1, 2) - 14/12/1999
49 (1) No person or company, with the intention of effecting a trade in a contract, shall make any representation that the person or company or any other person or company, (a)  will refund all or any of the margin or premium; or (b)  assume all or any part of the obligation of another person or company under the contract.  R.S.O. 1990, c. C.20, s. 49 (1). Future value (2) No person or company, with the intention of effecting a trade in a contract, shall give any undertaking, written or oral, relating to the future value of such contract.  R.S.O. 1990, c. C.20, s. 49 (2).
50 No registrant shall use the name of another registrant on letterheads, forms, advertisements or signs, as correspondent or otherwise, unless the registrant is a partner, officer or agent of or is authorized so to do in writing by the other registrant.  R.S.O. 1990, c. C.20, s. 50.
51 No person or company shall hold himself, herself or itself out as being registered by having printed in a circular, pamphlet, advertisement, letter, telegram or other stationery that the person or company is registered.  R.S.O. 1990, c. C.20, s. 51.
52 No person or company who is not registered shall, either directly or indirectly, hold himself, herself or itself out as being registered.  R.S.O. 1990, c. C.20, s. 52.
53 No person or company shall make any representation, written or oral, that the Commission has in any way passed upon the financial standing, fitness or conduct of any registrant or upon the merits of any contract.  R.S.O. 1990, c. C.20, s. 53.
54 (1) The Commission may, after giving the registered dealer an opportunity to be heard, and upon being satisfied that the registered dealer’s past conduct with respect to the use of advertising and sales literature affords reasonable grounds for belief that it is necessary for the protection of the public to do so, order that a registered dealer shall deliver to the Commission at least seven days before it is used, copies of all advertising and sales literature that the registered dealer proposes to use in connection with trading in contracts.  R.S.O. 1990, c. C.20, s. 54 (1). Definitions (2) For the purposes of this section, “advertising” includes television and radio commercials, newspaper and magazine advertisements and all other sales material generally disseminated through the communications media; (“annonce publicitaire”) “sales literature” includes records, videotapes and similar material, written matter and all other material, except terms and conditions of contracts and the written statement required under section 40, designed for use in a presentation to a customer or prospective customer, whether such material is given or shown to the customer. (“documents de promotion”)  R.S.O. 1990, c. C.20, s. 54 (2). Prohibition of advertising (3) Where the Commission has issued an order under subsection (1), the Director may prohibit the use of the advertising and sales literature so delivered or may require that deletions or changes be made prior to its use.  R.S.O. 1990, c. C.20, s. 54 (3). (4) Repealed:  1999, c. 9, s. 38. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 38 - 14/12/1999 PART XII.1   WHISTLE-BLOWING AND PROTECTION FROM REPRISALS
54.1 (1) This section applies if, for the purpose of making a whistle-blower submission, an individual provides information to the Commission in a form made available by the Commission for that purpose. 2023, c. 21, Sched. 1, s. 2. No disclosure (2) The Commission shall not disclose, in response to a request for access under the Freedom of Information and Protection of Privacy Act, the identity of the individual, or any information or record that may reasonably be expected to reveal the identity of the individual, as the source of information that has been provided to the Commission. 2023, c. 21, Sched. 1, s. 2. Same (3) Subsection (2) applies with respect to information provided to the Commission before, on or after the day section 2 of Schedule 1 to the Building a Strong Ontario Together Act (Budget Measures), 2023 comes into force. 2023, c. 21, Sched. 1, s. 2. Section Amendments with date in force (d/m/y) 2016, c. 37, Sched. 4, s. 1 - 08/12/2016 2017, c. 34, Sched. 7, s. 4 - 14/12/2017 2021, c. 8, Sched. 9, s. 39 (23, 24) - 29/04/2022 2023, c. 21, Sched. 1, s. 2 - 04/12/2023
57 An information in respect of any contravention of this Act may be for one or more offences and no information, summons, warrant, conviction or other proceeding in any such prosecution is objectionable or insufficient by reason of the fact that it relates to two or more offences.  R.S.O. 1990, c. C.20, s. 57.
58 (1) Where a provincial judge, magistrate or justice of another province or territory of Canada issues a warrant for the arrest of any person on a charge of contravening any provision of a statute of such province or territory similar to this Act, the Ontario Court of Justice within the jurisdiction of which that person is or is suspected to be may, upon satisfactory proof of the handwriting of the provincial judge, magistrate or a justice who issued the warrant, make an endorsement thereon in a form approved by the Commission, and a warrant so endorsed is sufficient authority to the person bringing the warrant and to all other persons to whom it was originally directed and to all police officers to execute the warrant and to take the person arrested thereunder either out of or anywhere in Ontario and to rearrest such person anywhere in Ontario.  R.S.O. 1990, c. C.20, s. 58 (1); 1997, c. 19, s. 1 (3); 1999, c. 9, s. 40. Prisoner in transit (2) Any police officer of Ontario or of any other province or territory of Canada who is passing through Ontario and who has in custody a person arrested in another province or territory under a warrant endorsed under subsection (1) is entitled to hold, take and rearrest the accused anywhere in Ontario under such warrant without proof of the warrant or the endorsement thereof.  R.S.O. 1990, c. C.20, s. 58 (2). Section Amendments with date in force (d/m/y) 1997, c. 19, s. 1 (3) - 10/10/1997 1999, c. 9, s. 40 - 14/12/1999
59.1 (1) A person or company shall not, directly or indirectly, engage or participate in any act, practice or course of conduct relating to commodities or contracts that the person or company knows or reasonably ought to know, (a)  results in or contributes to a misleading appearance of trading activity in, or an artificial price for, a commodity or contract; or (b)  perpetrates a fraud on any person or company. 2002, c. 22, s. 11. Attempts (2) A person or company shall not, directly or indirectly, attempt to engage or participate in any act, practice or course of conduct that is contrary to subsection (1). 2013, c. 2, Sched. 2, s. 2. Section Amendments with date in force (d/m/y) 2002, c. 22, s. 11 - 31/12/2005 2013, c. 2, Sched. 2, s. 2 - 21/06/2013
59.2 A person or company shall not make a statement that the person or company knows or reasonably ought to know, (a)  in a material respect and at the time and in the light of the circumstances under which it is made, is misleading or untrue or does not state a fact that is required to be stated or that is necessary to make the statement not misleading; and (b)  would reasonably be expected to have a significant effect on the market price or value of a commodity or contract.  2002, c. 22, s. 11; 2004, c. 31, Sched. 6, s. 1. Section Amendments with date in force (d/m/y) 2002, c. 22, s. 11 - 31/12/2005 2004, c. 31, Sched. 6, s. 1 - 31/12/2005
59.3 (1) A person or company shall not, directly or indirectly, engage or participate in the provision of information to another person or company for the purpose of determining a benchmark if the person or company knows or reasonably ought to know that the information, at the time and in the circumstances in which it is provided, is false or misleading. 2018, c. 17, Sched. 7, s. 3. Attempt (2) A person or company shall not, directly or indirectly, attempt to engage or participate in the conduct described in subsection (1). 2018, c. 17, Sched. 7, s. 3. Section Amendments with date in force (d/m/y) 2018, c. 17, Sched. 7, s. 3 - 06/12/2018
59.4 (1) A person or company shall not, directly or indirectly, engage or participate in conduct relating to a benchmark that improperly influences the determination of the benchmark or produces or contributes to the production of a false or misleading determination of the benchmark. 2018, c. 17, Sched. 7, s. 3. Attempt (2) A person or company shall not, directly or indirectly, attempt to engage or participate in the conduct described in subsection (1). 2018, c. 17, Sched. 7, s. 3. Section Amendments with date in force (d/m/y) 2018, c. 17, Sched. 7, s. 3 - 06/12/2018
60.1 (1) If, in respect of a person or company whose affairs were the subject of an investigation, the Tribunal, (a)  is satisfied that the person or company has not complied with, or is not complying with, Ontario commodity futures law; or (b)  considers that the person or company has not acted in the public interest, the Tribunal may, after conducting a hearing, order the person or company to pay the costs of the investigation. 2021, c. 8, Sched. 9, s. 39 (35). Payment of hearing costs (2) If, in respect of a person or company whose affairs were the subject of a hearing, the Tribunal, after conducting the hearing, (a)  is satisfied that the person or company has not complied with, or is not complying with, Ontario commodity futures law; or (b)  considers that the person or company has not acted in the public interest, the Tribunal may order the person or company to pay the costs of or related to the hearing that are incurred by or on behalf of the Commission. 2021, c. 8, Sched. 9, s. 39 (35). Payment of costs where offence (3) Where a person or company is guilty of an offence under this Act or the regulations, the Tribunal may, after conducting a hearing, order the person or company to pay the costs of any investigation carried out in respect of that offence. 2021, c. 8, Sched. 9, s. 39 (35). Costs (4) For the purposes of subsections (1), (2) and (3), the costs that the Tribunal may order the person or company to pay include, but are not limited to, all or any of the following: 1.  Costs incurred in respect of services provided by persons appointed or engaged under section 3, 7 or 8. 2.  Costs of matters preliminary to the hearing. 3.  Costs for time spent by the Commission or the staff of the Commission. 4.  Any fee paid to a witness. 5.  Costs of legal services provided to the Commission. 2021, c. 8, Sched. 9, s. 39 (35). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 41 - 14/12/1999 2021, c. 8, Sched. 9, s. 39 (35) - 29/04/2022
60.3 (1) The Commission may apply to the Superior Court of Justice for an order appointing a receiver, receiver and manager, trustee or liquidator of all or any part of the property of any person or company.  1999, c. 9, s. 41. Grounds (2) No order shall be made under subsection (1) unless the court is satisfied that, (a)  the appointment of a receiver, receiver and manager, trustee or liquidator of all or any part of the property of the person or company is in the best interests of the creditors of the person or company or of persons or companies any of whose property is in the possession or under the control of the person or company or the security holders of, or subscribers to, the person or company; or (b)  it is appropriate for the due administration of Ontario commodity futures law.  1999, c. 9, s. 41. Application without notice (3) The court may make an order under subsection (1) on an application without notice, but the period of appointment shall not exceed 15 days.  1999, c. 9, s. 41. Motion to continue order (4) If an order is made without notice under subsection (3), the Commission may make a motion to the court within 15 days after the date of the order to continue the order or for the issuance of such other order as the court considers appropriate.  1999, c. 9, s. 41. Powers of receiver, etc. (5) A receiver, receiver and manager, trustee or liquidator of the property of a person or company appointed under this section shall be the receiver, receiver and manager, trustee or liquidator of all or any part of the property belonging to the person or company or held by the person or company on behalf of, or in trust for, any other person or company, and, if so directed by the court, the receiver, receiver and manager, trustee or liquidator has the authority to wind up or manage the business and affairs of the person or company and has all powers necessary or incidental to that authority.  1999, c. 9, s. 41. Directors’ powers cease (6) If an order is made appointing a receiver, receiver and manager, trustee or liquidator of the property of a person or company under this section, the powers of the directors of the company that the receiver, receiver and manager, trustee or liquidator is authorized to exercise may not be exercised by the directors until the receiver, receiver and manager, trustee or liquidator is discharged by the court.  1999, c. 9, s. 41. Fees and expenses (7) The fees charged and expenses incurred by a receiver, receiver and manager, trustee or liquidator appointed under this section in relation to the exercise of powers pursuant to the appointment shall be in the discretion of the court.  1999, c. 9, s. 41. Variation or discharge of order (8) An order made under this section may be varied or discharged by the court on motion.  1999, c. 9, s. 41. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 41 - 14/12/1999
60.4 Except where otherwise provided in this Act, no proceeding under this Act shall be commenced later than six years from the date of the occurrence of the last event on which the proceeding is based.  1999, c. 9, s. 41. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 41 - 14/12/1999
60.5 For the purposes of this Act, if a company or a person other than an individual has not complied with Ontario commodity futures law, a director or officer of the company or person who authorized, permitted or acquiesced in the non-compliance shall be deemed to also have not complied with Ontario commodity futures law, whether or not any proceeding has been commenced against the company or person under Ontario commodity futures law or any order has been made against the company or person under section 60.  2002, c. 22, s. 13. Section Amendments with date in force (d/m/y) 2002, c. 22, s. 13 - 7/04/2003 PART XIV   GENERAL PROVISIONS
61 Where, (a)  an application for registration or renewal of registration is abandoned; (b)  an application for recognition of a commodity futures exchange is abandoned; or (c)  an application for acceptance of the form of contract is abandoned, the Director may, upon the application of the person or company who made the application recommend to the Minister of Finance that a refund of the fee paid on the making of the application or such part thereof as he or she considers fair and reasonable be made, and the Minister may make such refund from the Consolidated Revenue Fund.  R.S.O. 1990, c. C.20, s. 61; 2009, c. 33, Sched. 16, s. 2 (2). Section Amendments with date in force (d/m/y) 2009, c. 33, Sched. 16, s. 2 (2) - 15/12/2009
62 A statement as to, (a)  the registration or non-registration of any person or company; (b)  the filing or non-filing of any document or material required or permitted to be filed; (c)  a matter in addition to a matter set out in clauses (a) and (b) that pertains to registration, non-registration, filing or non-filing, or to any person, company, document or material; or (d)  the date of the facts upon which any proceedings are to be based first came to the knowledge of the Commission, purporting to be certified by the Commission or a member thereof, or by the Director is, without proof of the office or signature of the person certifying, admissible in evidence, so far as relevant, for all purposes in any action, proceeding or prosecution.  R.S.O. 1990, c. C.20, s. 62. 62.1 Repealed: 2021, c. 8, Sched. 9, s. 39 (37). Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 5, s. 4 - 17/05/2017 2021, c. 8, Sched. 9, s. 39 (37) - 29/04/2022
63 (1) Where Ontario commodity futures law requires that material be filed, the filing shall be effected by depositing the material, or causing it to be deposited, with the Commission and all material so filed shall, subject to subsection (2), be made available by the Commission for public inspection during the normal business hours of the Commission.  R.S.O. 1990, c. C.20, s. 63 (1); 1999, c. 9, s. 42 (1). Idem (2) Despite subsection (1), the Commission may hold material or any class of material required to be filed by Ontario commodity futures law in confidence so long as the Commission is of the opinion that the material so held discloses intimate financial, personal or other information and that the desirability of avoiding disclosure thereof in the interests of any person or company affected outweighs the desirability of adhering to the principle that material filed with the Commission be available to the public for inspection.  R.S.O. 1990, c. C.20, s. 63 (2); 1999, c. 9, s. 42 (2). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 42 (1, 2) - 14/12/1999
64 No person or company has any rights or remedies and no proceedings lie or shall be brought against any person or company for, (a)  any act or omission of the last-mentioned person or company done or omitted in compliance with Ontario commodity futures law; or (b)  any disclosure of information by the last-mentioned person or company to the Commission, to a recognized self-regulatory organization, to a law enforcement agency or to any person or company acting under the authority of the Commission, of the recognized self-regulatory organization or of the law enforcement agency, if the person or company reasonably believed that the information was true and they, (i)  reasonably believed that the information was related to an offence or to a contravention of Ontario commodity futures law, or (ii)  provided the information as part of a review, investigation, examination or inspection by the Commission or the recognized self-regulatory organization or as part of a review, investigation, examination or inspection in respect of Ontario commodity futures law by the law enforcement agency. 2023, c. 21, Sched. 1, s. 8. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 43 (1, 2) - 14/12/1999 2009, c. 33, Sched. 16, s. 2 (3) - 15/12/2009 2010, c. 26, Sched. 3, s. 2 - 08/12/2010 2019, c. 7, Sched. 17, s. 51 - 01/07/2019 2021, c. 8, Sched. 9, s. 39 (38) - 29/04/2022 2023, c. 21, Sched. 1, s. 8 - 04/12/2023 Part XV   Rules, Regulations and Policies
66 (1) Every order and ruling of the Commission that is listed in the Schedule shall be deemed to be a rule validly made under this Act and to have come into force on the day this section comes into force.  1999, c. 9, s. 47. Amended orders or rulings (2) For the purposes of subsection (1), a reference to an order, ruling or policy, whether or not it is referred to in the Schedule, as amended, is a reference to the order, ruling or policy as it exists on the day this section comes into force.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
68 (1) The Commission must deliver to the Minister a copy of every rule made by it together with the following: 1.  A copy of the notices published under section 67, unless publication of notice was not required and copies of all documents referred to in the notices. 2.  A summary of the representations made and other documents submitted in respect of the rule as proposed. 3.  All other material information that was considered by the Commission in connection with the making of the rule.  1999, c. 9, s. 47. Publication (2) The Commission shall publish in its Bulletin every rule made by it as soon after the rule is made as practicable together with the following: 1.  The date on which a rule and the material required under subsection (1) were delivered to the Minister. 2.  The date the rule is to come into force if an action is not taken by the Minister under subsection (3). 3.  A statement of the substance and purpose of the rule. 4.  A summary of the written comments received during the comment periods if notice and comment were required. 5.  A statement of the Commission setting out its response to the significant issues and concerns brought to the attention of the Commission during the comment periods.  1999, c. 9, s. 47. Action by Minister (3) Within 60 days after a rule is delivered to the Minister, the Minister may, (a)  approve the rule, (b)  reject the rule; or (c)  return it to the Commission for further consideration.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
69 (1) A rule that is approved by the Minister comes into force 15 days after it is approved unless there is a later day specified in the rule in which case it comes into force on that later day.  1999, c. 9, s. 47. Same (2) If the Minister does not approve a rule, reject it or return it to the Commission for further consideration and a coming into force day, (a)  that is at least 75 days after the rule is delivered to the Minister is specified in the rule, the rule comes into force on the specified day; (b)  is not specified in the rule, the rule comes into force on the 75th day after the rule is delivered to the Minister; or (c)  that is within 75 days after the rule is delivered to the Minister is specified in the rule, the rule comes into force on the 75th day after the rule is delivered to the Minister.  1999, c. 9, s. 47. Same (3) A rule that is returned to the Commission for further consideration cannot come into force until it is returned by the Commission to the Minister at which time this section applies as if the rule were delivered for the first time.  1999, c. 9, s. 47. Same (4) A rule that is rejected by the Minister does not come into force.  1999, c. 9, s. 47. Same (5) A rule to which clause 67 (5) (d) (urgency provision) applies that is approved by the Minister comes into force on the day it is published in the Commission’s Bulletin.  1999, c. 9, s. 47. Revocation by operation of law (6) Every rule to which clause 67 (5) (d) applies is revoked on the 275th day after it comes into force.  1999, c. 9, s. 47. Publication (7) The Commission shall publish every rule that comes into force in The Ontario Gazette and in its Bulletin.  1999, c. 9, s. 47. Deemed notice (8) Every person or company affected by a rule shall be deemed to have notice of it when it is published in the Commission’s Bulletin.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
70 (1) If the Minister returns a rule to the Commission for further consideration, the Minister may specify what is to be considered, the conditions that apply and the process to be followed.  1999, c. 9, s. 47. Same (2) Subject to any instruction that the Commission receives under subsection (1), the Commission shall consider any rule returned to it in the manner and following the process that it feels is appropriate.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
71 The Commission shall publish in its Bulletin notice of, (a)  any action taken by the Minister under subsection 68 (3) in respect of every rule that the Commission has delivered to the Minister; and (b)  any matters specified by the Minister under subsection 70 (1) to be considered.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
72 (1) The Minister may in writing require the Commission, (a)  to study and make recommendations in respect of any matter of a general nature under or affecting Ontario commodity futures law; and (b)  to consider making a rule in respect of a matter specified by the Minister.  1999, c. 9, s. 47. Publication (2) The Commission shall publish in its Bulletin notice of every requirement from the Minister made under subsection (1).  1999, c. 9, s. 47. Notice (3) The notice must include the following: 1.  A statement of the substance of the requirement. 2.  A reference to every unpublished study, report or other written materials provided to the Commission by the Minister other than materials that the Minister has asked the Commission to treat as confidential.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 Policies
75 (1) The Commission shall not make any orders or rulings of general application. 2019, c. 15, Sched. 7, s. 3. Class order exemptions (2) Despite subsection (1), if the Commission considers that it would not be prejudicial to the public interest to do so, the Commission may, on application by an interested person or company or on its own initiative, make an order exempting a class of persons or companies, contracts, trades or intended trades from any requirement of Ontario commodity futures law on such terms or conditions as may be set out in the order. 2019, c. 15, Sched. 7, s. 3. Duration of class order exemption (3) If an order is made under subsection (2), (a)  the order has no effect as of 18 months after the day on which it comes into force unless extended under clause (b); and (b)  the Commission may make a rule in accordance with sections 68 to 71 extending the order for a further period of up to 18 months. 2019, c. 15, Sched. 7, s. 3. Public notice (4) On or before the day on which an order described in subsection (2) is effective, the Commission shall publish a notice in its Bulletin that includes a description of the order, the reasons for it and the day on which it ceases to have effect. 2019, c. 15, Sched. 7, s. 3. Legislation Act, 2006, Part III (5) Part III (Regulations) of the Legislation Act, 2006 does not apply to an order made under subsection (2). 2019, c. 15, Sched. 7, s. 3. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2019, c. 15, Sched. 7, s. 3 - 10/12/2019 76 Repealed: 2021, c. 40, Sched. 19, s. 8. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2004, c. 31, Sched. 6, s. 3 - 16/12/2004 2021, c. 40, Sched. 19, s. 8 - 29/04/2022 77 Repealed: 2021, c. 8, Sched. 9, s. 39 (40). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2021, c. 8, Sched. 9, s. 39 (40) - 29/04/2022
77.1 The Commission shall be deemed to have complied with a requirement under Ontario commodity futures law to publish or otherwise make available a notice, rule or other information if the Commission provides the notice, rule or information in electronic form through an electronic medium or posts it on its website.  2002, c. 18, Sched. H, s. 2. Section Amendments with date in force (d/m/y) 2002, c. 18, Sched. H, s. 2 - 26/11/2002
78 (1) The Commission may, on the application of the Chief Executive Officer of the Commission or a person or company affected by the decision, make an order revoking or varying a decision of the Commission if, in the Commission’s opinion, the order would not be prejudicial to the public interest.  1999, c. 9, s. 47; 2021, c. 8, Sched. 9, s. 39 (41). Terms and conditions (2) The order may be made on such terms and conditions as the Commission may impose.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2021, c. 8, Sched. 9, s. 39 (41) - 29/04/2022
78.1 (1) The Tribunal may make an order revoking or varying a decision of the Tribunal, on the application of the Chief Executive Officer of the Commission or a person or company affected by the decision, if in the Tribunal’s opinion the order would not be prejudicial to the public interest. 2021, c. 8, Sched. 9, s. 39 (42). Terms and conditions (2) The order may be made on such terms and conditions as the Tribunal may impose. 2021, c. 8, Sched. 9, s. 39 (42). Section Amendments with date in force (d/m/y) 2021, c. 8, Sched. 9, s. 39 (42) - 29/04/2022
79 (1) Despite subsection 33 (4) of the Evidence Act, the Commission may, by order, compel a bank or officer of a bank, in an investigation, financial examination or hearing under Ontario commodity futures law to which the bank is not a party, to produce any book or record the contents of which can be proved under section 33 of the Evidence Act or to appear as a witness to prove the matters, transactions and accounts contained in the book or record.  1999, c. 9, s. 47. Definitions (2) In subsection (1), “bank” and “officer of a bank” have the same meanings as in subsection 33 (4) of the Evidence Act.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
80 Except where exemption applications are otherwise provided for in Ontario commodity futures law, the Commission may, on the application of an interested person or company and if, in the Commission’s opinion, it would not be prejudicial to the public interest, make an order on such terms and conditions as it may impose exempting the person or company from any requirement of Ontario commodity futures law.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
81 Nothing shall preclude a court from ordering costs payable to the Commission and in the event that costs are awarded to the Commission, a counsel fee may be awarded despite the fact that the Commission was represented by Commission staff.  1999, c. 9, s. 47. Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999
82 Nothing in this Act shall be construed as limiting the Commission’s or the Tribunal’s ability to make a decision under more than one provision of Ontario commodity futures law in respect of the same conduct or matter.  1999, c. 9, s. 47; 2021, c. 8, Sched. 9, s. 39 (43). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2021, c. 8, Sched. 9, s. 39 (43) - 29/04/2022
83 (1) On filing with the Superior Court of Justice, a decision made by the Commission, by the Tribunal, by the Chief Executive Officer of the Commission or by another Director in accordance with a delegation under subsection 2.3 (1) shall be deemed to be an order of the Superior Court of Justice and is enforceable as an order of that court.  1999, c. 9, s. 47; 2021, c. 8, Sched. 9, s. 39 (44). Filing decision (2) A decision of a Director may not be filed with the court under subsection (1) until the time permitted for an application to review the Director’s decision pursuant to subsection 4 (2) has expired or, if the decision has been appealed, the Tribunal has confirmed it.  1999, c. 9, s. 47; 2021, c. 8, Sched. 9, s. 39 (45). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 47 - 14/12/1999 2021, c. 8, Sched. 9, s. 39 (44, 45) - 29/04/2022