65 (1) If the conditions in subsection (2) are met, the Director may, in writing, (a)  order any person having on deposit or controlling any assets or trust funds of a licensee or former licensee to hold those assets or funds; (b)  order a licensee or former licensee to refrain from withdrawing any asset or trust fund from a person having them on deposit or controlling them; or (c)  order a licensee or former licensee to hold any asset or trust fund of a purchaser or other person in trust for the person entitled to it. 2017, c. 33, Sched. 1, s. 65 (1). Conditions (2) The Director may make an order under subsection (1) if the Director believes that it is advisable for the protection of purchasers, owners or the guarantee fund under the Ontario New Home Warranties Plan Act or the Protection for Owners and Purchasers of New Homes Act, 2017 and, (a)  a search warrant has been issued under section 61; or (b)  an order has been made under section 64, 67 or 68. 2017, c. 33, Sched. 1, s. 65 (2); 2020, c. 14, Sched. 4, s. 14. Limitation (3) In the case of a bank or authorized foreign bank as defined in section 2 of the Bank Act (Canada), a credit union within the meaning of the Credit Unions and Caisses Populaires Act, 2020 or a loan or trust corporation, the order under subsection (1) of this section applies only to the offices and branches named in the order. 2017, c. 33, Sched. 1, s. 65 (3); 2020, c. 36, Sched. 7, s. 325. Release of assets (4) The Director may consent to the release of any particular asset or trust fund from the order or may wholly revoke the order. 2017, c. 33, Sched. 1, s. 65 (4). Exception (5) Subsection (1) does not apply if the person files with the Director, in the manner and amount that the Director determines, (a)  a personal bond accompanied by collateral security; (b)  a bond of an insurer licensed under the Insurance Act to write surety and fidelity insurance; (c)  a bond of a guarantor accompanied by collateral security; or (d)  another prescribed form of security. 2017, c. 33, Sched. 1, s. 65 (5). Application to court (6) An application may be made to the Superior Court of Justice for a determination in respect of the disposition of an asset or trust fund, (a)  by a person in receipt of an order under subsection (1), if that person is in doubt as to whether the order applies to the asset or trust fund; or (b)  by a person who claims an interest in the asset or trust fund subject to the order. 2017, c. 33, Sched. 1, s. 65 (6). Notice (7) If an order is made under this section, the Director may register in the appropriate land registry office a notice that an order under subsection (1) has been issued and that the order may affect land belonging to the person specified in the notice. 2017, c. 33, Sched. 1, s. 65 (7). Effect of notice (8) The notice has the same effect as the registration of a certificate of pending litigation except that the Director may in writing revoke or modify the notice. 2017, c. 33, Sched. 1, s. 65 (8). Cancellation or discharge application (9) A person in respect of whom an order has been made under subsection (1) or any person having an interest in land in respect of which a notice is registered under subsection (7) may apply to the Tribunal for cancellation in whole or in part of the order or for discharge in whole or in part of the registration. 2017, c. 33, Sched. 1, s. 65 (9). Disposition by Tribunal (10) The Tribunal shall dispose of the application after a hearing and may cancel the order or discharge the registration in whole or in part, if the Tribunal finds, (a)  that the order or registration is not required in whole or in part for the protection of owners or of other persons having an interest in the land; or (b)  that the interests of other persons are unduly prejudiced by the order or registration. 2017, c. 33, Sched. 1, s. 65 (10). Parties (11) The applicant, the Director and the other persons that the Tribunal specifies are parties to the proceedings before the Tribunal. 2017, c. 33, Sched. 1, s. 65 (11). Court application (12) If the Director has made an order under subsection (1) or registered a notice under subsection (7), the Director may apply to the Superior Court of Justice for directions or an order relating to the disposition of assets, trust funds or land affected by the order or notice. 2017, c. 33, Sched. 1, s. 65 (12). Notice not required (13) An application by the Director under this section may be made without notice to any other person. 2017, c. 33, Sched. 1, s. 65 (13). Section Amendments with date in force (d/m/y) 2020, c. 14, Sched. 4, s. 14 - 01/02/2021; 2020, c. 36, Sched. 7, s. 325 - 01/03/2022