jswizzle3737/ontario_laws_and_regs huggingface dataset:
268 (1) An administrative penalty may be imposed under section 269 for either of the following purposes: 1.  To promote compliance with the requirements established under this Act. 2.  To prevent a person or entity from deriving, directly or indirectly, any economic benefit as a result of contravening a provision of this Act, the regulations or the Authority rules. Same (2) An administrative penalty may be imposed alone or in conjunction with any other regulatory measure provided by this Act, including any other order under this Act or the cancellation of deposit insurance under section 222.
269 (1) If the Chief Executive Officer is satisfied that a person or entity is contravening or not complying with or has contravened or not complied with a requirement established under this Act, the Chief Executive Officer may, by order, impose an administrative penalty on the person or entity in accordance with this section and the regulations. Proposal to impose penalty (2) If the Chief Executive Officer proposes to impose an administrative penalty under this section, the Chief Executive Officer shall give written notice of the proposal to the person or entity, including the details of the contravention or failure to comply, the amount of the penalty and the payment requirements; the Chief Executive Officer shall also inform the person or entity that the person or entity can request a hearing by the Tribunal about the proposal and shall advise the person or entity about the process for requesting a hearing. Limitation (3) The Chief Executive Officer shall not give notice of a proposal more than two years after the day the Chief Executive Officer became aware of the contravention or failure to comply. Hearing requested (4) If the person or entity requests a hearing in writing within 15 days after the notice under subsection (2) is received, the Tribunal shall hold a hearing. Order (5) The Tribunal may, by order, direct the Chief Executive Officer to carry out the proposal, with or without changes, or substitute its opinion for that of the Chief Executive Officer. Hearing not requested (6) If the person or entity does not request a hearing or does not make the request in accordance with subsection (4), the Chief Executive Officer may carry out the proposal. Definition (7) In this section, “requirement established under this Act” means a requirement imposed by this Act or by a regulation or an Authority rule, or a requirement imposed by order.
270 If a person or entity pays the administrative penalty in accordance with the terms of an order under section 269 or, if the order is varied on appeal, in accordance with the terms of the varied order, the person or entity cannot be charged with an offence under this Act in respect of the same contravention or failure to comply.
271 An administrative penalty imposed under section 269 shall not exceed the following amounts: 1.  In the case of an entity, $500,000. 2.  In the case of an individual, $100,000.
272 (1) If a person or entity fails to pay an administrative penalty imposed under section 269 in accordance with the terms of the order imposing the penalty, the person who made the order may file the order with the court and the order may be enforced as if it were an order of the court. Same (2) For the purposes of section 129 of the Courts of Justice Act, the date on which the order is filed with the court shall be deemed to be the date of the order. Same (3) An administrative penalty that is not paid in accordance with the terms of the order imposing the penalty is a debt due to the Crown and is also enforceable as such. Part XVII   Miscellaneous
273 (1) If the Government of Ontario has entered into an agreement providing for reciprocal rights for credit unions with the government of a province or territory of Canada, a credit union incorporated under the laws of that province or territory may register under this Act for such purposes as are specified in the agreement. Register (2) The Chief Executive Officer shall maintain the Extra-Provincial Credit Unions Register and shall record in it the names of the credit unions registered and the limited purposes to which they are subject in Ontario. Condition precedent to licence (3) No credit union that is an extra-provincial corporation within the meaning of the Extra-Provincial Corporations Act shall be licensed under that Act as an extra-provincial corporation unless it has been first registered under this Act by the Chief Executive Officer. Registration of credit unions to take deposits (4) The Chief Executive Officer may, subject to any conditions prescribed by regulation, register a credit union in the Extra-Provincial Credit Unions Register for the purpose of allowing the credit union to borrow money from the public by receiving deposits and lending or investing such money. Limitation (5) A credit union shall not be registered under subsection (4) unless the deposits taken in Ontario are insured or guaranteed by the deposit insurer or similar entity for the jurisdiction under whose laws the credit union was incorporated. Registration of credit unions to participate in syndicated loans (6) The Chief Executive Officer may, subject to any conditions prescribed by regulation, (a)  register a credit union in the Extra-Provincial Credit Unions Register for the purpose of allowing the credit union to participate in syndicated loans under this Act, even if no agreement under subsection (1) applies to the credit union; or (b)  cancel the registration. Special rules for credit unions registered under subs. (4) or (6) (a) (7) The following apply with respect to a credit union registered under subsection (4) or clause (6) (a): 1.  References to a credit union in the Loan and Trust Corporations Act and such other statutes and regulations as may be prescribed by regulation shall be deemed to include a credit union registered under subsection (4) or clause (6) (a). 2.  The credit union shall comply with any regulations governing the conduct of credit unions registered under this section. 3.  This Act shall not apply with respect to the credit union, except as provided in the regulations.
274 (1) Within five years after this section comes into force, the Minister shall appoint one or more persons to review the operation of this Act and the regulations and to make recommendations to the Minister. Subsequent reviews (2) The Minister shall, no later than five years after the appointment under subsection (1), appoint one or more persons to conduct a subsequent review and shall, no later than five years after the most recent appointment under this subsection, appoint one or more persons to conduct subsequent reviews. Public consultation (3) When conducting a review, the appointees shall solicit the views of the public. Public inspection (4) The Minister shall make the recommendations of the appointees available to the public.
275 (1) Subject to subsections (2) and (5), credit unions and centrals shall not carry on business, and extra-provincial credit unions shall not carry on business in Ontario, after the fifth anniversary of the day on which this section comes into force. Extension (2) The Lieutenant Governor in Council may, by order, extend by up to one year the time during which credit unions and centrals may carry on business and extra-provincial credit unions may carry on business in Ontario. Same, limit (3) No more than one order may be made under subsection (2). Order not a regulation (4) An order made under subsection (2) is not a regulation within the meaning of Part III (Regulations) of the Legislation Act, 2006. Exception — dissolution (5) If the Legislature dissolves on the fifth anniversary of the day this section comes into force or on any day within the one-year period before that anniversary or on any day within an extension ordered under subsection (2), credit unions and centrals may continue to carry on business, and extra-provincial credit unions may continue to carry on business in Ontario, until the end of the 180th day after the first day of the first session of the next Legislature.
276 (1) Subject to any specific requirements set out in this Act, the regulations, the Authority rules or other applicable law, including the Electronic Commerce Act, 2000, a record or other document that is to be provided, issued or otherwise transmitted under this Act may be provided, issued or otherwise transmitted in electronic format. Delivery of certain documents (2) Delivery of any written notice or document for any purpose of this Act may be made by mail, (a)  in the case of a credit union, addressed to it at its principal place of business; (b)  in the case of a director, addressed to the director at the director’s address as shown on the records of the Authority; (c)  in the case of the Chief Executive Officer, addressed to the Chief Executive Officer at the Chief Executive Officer’s office; (d)  in the case of the Authority, addressed to the Authority at its office; or (e)  in the case of a member, addressed to the member at the member’s address as shown in the records of the credit union or by personal delivery to the member at the member’s place of employment. Part xviii   Regulations, rules, forms and fees Regulations
278 The Lieutenant Governor in Council may make regulations, (a)  specifying the financial statements, reports and other documents that are to be included with an offering statement; (b)  respecting the disclosure of material facts in relation to securities to be distributed; (c)  respecting the distribution of an offering statement; (d)  exempting any class of distributions from the application of sections 68 to 75; (e)  generally, for carrying out the purposes of sections 67 to 75.
279 The Lieutenant Governor may make regulations, (a)  adopting by reference any code, standard or guideline in respect of capital adequacy requirements; (b)  requiring compliance with any regulation, administrative directive, or prescribed requirement, code standard or guideline in respect of capital adequacy.
280 (1) The Lieutenant Governor in Council may make regulations, (a)  prescribing, for the purposes of section 158, charges that are included in the cost of borrowing and charges that are excluded; (b)  governing rebates to be made under section 159; (c)  prescribing information other than the cost of borrowing that must be disclosed under section 160; (d)  prescribing the manner of calculating the cost of borrowing for the purposes of section 160; (e)  prescribing the circumstances in which the cost of borrowing must be expressed as an amount in dollars and cents for the purposes of section 160; (f)  prescribing the manner of calculating any rebate referred to in paragraph 4 of section 161; (g)  prescribing changes for the purposes of paragraph 6 of section 161, paragraph 3 of section 163 and paragraph 3 of subsection 164 (1); (h)  prescribing rights and obligations of borrowers for the purposes of paragraph 7 of section 161, paragraph 4 of section 163 and paragraph 4 of subsection 164 (1); (i)  prescribing information that must be disclosed under paragraph 8 of section 161, paragraph 5 of section 163 and paragraph 5 of subsection 164 (1); (j)  prescribing information for the purposes of section 162; (k)  prescribing information for the purposes of section 165; (l)  prescribing matters for the purposes of clause 166 (1) (b) and respecting the form, manner and content of advertisements for the purposes of subsection 166 (2); (m)  prescribing the time, manner and form of any disclosure required under sections 160 to 166; (n)  prescribing classes of loans in respect of which some or all of the requirements of sections 159 to 166 do not apply; (o)  prohibiting the imposition of any charge or penalty referred to in section 161, 163 or 164; (p)  governing the nature and amount of any charge or penalty referred to in section 161, 163 or 164 that may be imposed by a credit union, including but not limited to, (i)  regulations providing that such a charge or penalty shall not exceed an amount prescribed in the regulation, and (ii)  regulations respecting the costs of the credit union that may be included or must be excluded in the determination of the charge or penalty; (q)  respecting any other matter or thing that is necessary to carry out the purposes of sections 159 to 166. Same (2) A regulation made under clause (1) (a) may exclude charges described in clause (a), (b) or (c) of the definition of “cost of borrowing” in section 158. Same (3) A regulation made under subsection (1) may be general or particular in its application and may be restricted in its application to the class or classes of loans set out in the regulation.
281 (1) The Lieutenant Governor in Council may make regulations prescribing how annual premiums are to be determined under paragraph 1 of subsection 225 (1). Same (2) A regulation under subsection (1) may prescribe different annual premiums for different credit unions or classes of credit unions. Limitation (3) For the purposes of subsection (2), prescribed classes of credit unions shall be based in part on measurable criteria which relate to the risk posed by the credit union and may be based in part on other factors so long as they are not based on membership in a central.
282 (1) The Lieutenant Governor in Council may make regulations governing the administrative penalties that may be imposed under section 269. Same (2) Without limiting the generality of subsection (1), a regulation governing administrative penalties may, (a)  prescribe criteria the Chief Executive Officer is required or permitted to consider when imposing a penalty under section 269; (b)  authorize the Chief Executive Officer to determine the amount of a penalty, if the amount of the penalty is not prescribed, and prescribe criteria the Chief Executive Officer is required or permitted to consider when determining the amount of the penalty; (c)  establish different penalties or ranges of penalties for different types of contraventions and for different classes of persons and entities; (d)  authorize a penalty to be imposed for each day or part of a day on which a contravention continues; (e)  authorize higher penalties for a second or subsequent contravention by a person or entity; (f)  require that the penalty be paid before a specified deadline or before a deadline specified by the Chief Executive Officer; (g)  authorize the imposition of late payment fees respecting penalties that are not paid before the deadline, including graduated late payment fees; (h)  establish a maximum cumulative penalty payable in respect of a contravention or in respect of contraventions during a specified period.
283 A regulation made under this Act may adopt by reference, in whole or in part, with such changes as the Lieutenant Governor in Council considers necessary, any code, standard or guideline, as amended from time to time, whether before or after the regulation is filed, and may require compliance with any code, standard or guideline adopted.
283.1 A regulation made under this Act may provide that a matter that may be required, authorized or otherwise determined in accordance with the regulations may be required, authorized or otherwise determined by credit union by-law instead. 2021, c. 40, Sched. 5, s. 17. Section Amendments with date in force (d/m/y) 2021, c. 40, Sched. 5, s. 17 - 01/03/2022
284 (1) The Lieutenant Governor in Council may make regulations respecting transitional matters related to the implementation of this Act. Conflict with transitional regulations (2) In the event of a conflict between this Act and a regulation made under this section, the regulation prevails.
286 The Chief Executive Officer may approve the use of forms, specify the procedure for the use of the forms, and require their use for any purpose of this Act, and the forms may provide for such information to be furnished as the Chief Executive Officer may require.
287 The Chief Executive Officer may approve the form and contents of any report required to be prepared under this Act, the regulations or the Authority rules, and the manner of reporting.
288 The Chief Executive Officer may approve the form and content of information circulars and proxies.
289 The Chief Executive Officer may approve the form and content of an offering statement or a statement of material changes. Fees
290 The Minister may make regulations governing fees under this Act, including, (a)  requiring the payment of fees in relation to any matter under this Act, including any services provided by or through the Ministry of Finance; (b)  prescribing the amount of fees or the manner of determining fees; (c)  prescribing the manner in which and the period within which fees must be paid. Part XIX (OMITTED) 291-339 Omitted (amends, repeals or revokes other legislation). 340 Omitted
(provides for coming into force of provisions of this Act). 341 Omitted (enacts short title of this Act). ______________  Français