jswizzle3737/ontario_laws_and_regs huggingface dataset:
Composition of Fund
 68. The Fund shall consist of, (a)  all money received by the Trustee from any source under this Part; and (b)  all income on the money mentioned in clause (a), including any rights or benefits occurring from the investment of the money or any property obtained from the investment of the money.  O. Reg. 333/08, s. 68.
Administration of Fund
 69. (1) The Trustee shall hold the Fund in trust for the benefit of those holders of claims for compensation from the Fund under this Regulation that the Board approves in accordance with this Part.  O. Reg. 333/08, s. 69 (1). (2) With the assistance of the Trustee, the Board shall ensure that the Fund is dealt with and distributed in accordance with this Part.  O. Reg. 333/08, s. 69 (2). (3) With the assistance of the Trustee, the Board shall ensure that the Fund is administered in a fiscally responsible manner and in accordance with an investment policy that requires the Board, in respect of investment decisions, to act in a reasonably prudent manner.  O. Reg. 333/08, s. 69 (3). (4) The investment policy may provide that the Fund may be invested, consistent with the policy, in investments in which a trust corporation may invest under the Loan and Trust Corporations Act.  O. Reg. 333/08, s. 69 (4). (5) The Board and the Trustee shall not be required to give any bond or other security for the performance of their duties and, except if the loss results from their own fraud, negligence or wilful misconduct, shall not be responsible for any loss in the property of the Fund of whatsoever character, including a loss resulting from, (a)  the making of any investments; (b)  the retention in good faith for any length of time of securities or other property of whatsoever character purchased or acquired, even if the securities or property are not income producing; or (c)  any mistake in judgment made in good faith.  O. Reg. 333/08, s. 69 (5). (6) The Trustee shall ensure that any payment from the Fund is deducted first from the income of the Fund and, in the event of any deficiency, from the capital of the Fund.  O. Reg. 333/08, s. 69 (6). (7) No person or body, including the Board and the Trustee, shall make a payment from the Fund to satisfy or settle any claim, judgment or other court order against the Board or the Trustee resulting from the fraud, negligence or wilful misconduct of the Board or the Trustee, as the case may be, or authorize that such a payment be made.  O. Reg. 333/08, s. 69 (7).
Trustee, appointment and functions
 70. (1) Subject to subsections (2) and (4), the Board shall appoint, as Trustee to assist the Board in administering the Fund, a trust corporation as defined in section 1 of the Loan and Trust Corporations Act that is authorized to do business in Ontario.  O. Reg. 333/08, s. 70 (1). (2) The Trustee appointed under Regulation 801 of the Revised Regulations of Ontario, 1990 (General) made under the Motor Vehicle Dealers Act immediately before the day section 89 of this Regulation comes into force shall continue as the Trustee under this Regulation until it is replaced.  O. Reg. 333/08, s. 70 (2). (3) Subject to subsection (4), the Board shall enter into an agreement with the Trustee in respect of the Trustee’s duties under this Part that is not inconsistent with this Part.  O. Reg. 333/08, s. 70 (3). (4) The Board shall not appoint the Trustee or enter into an agreement under subsection (3) unless the director approves the appointment or the agreement, as the case may be.  O. Reg. 333/08, s. 70 (4). (5) The Trustee shall receive amounts payable to the Fund and assist the Board in administering the Fund in accordance with the agreement between the Board and the Trustee mentioned in subsection (3).  O. Reg. 333/08, s. 70 (5). (6) The Trustee may act upon any written resolution, certificate, statement, instrument, opinion, report, notice, request, consent, letter or other document that it believes on reasonable grounds to be genuine and to have been signed, sent or delivered by or on behalf of the proper parties.  O. Reg. 333/08, s. 70 (6). (7) The Trustee shall ensure that its books and records clearly identify all property of the Fund that it holds, regardless of the form of the holding, including investments and securities.  O. Reg. 333/08, s. 70 (7). (8) The Trustee shall retain its books and records for seven years or whatever additional period of time that is required by another law.  O. Reg. 333/08, s. 70 (8). (9) The Trustee shall provide the Board with, (a)  all information, records and documents in its possession with respect to the administration of the Fund that the Board may reasonably request; and (b)  financial statements, certified by a person licensed under the Public Accounting Act, 2004, with respect to the administration of the Fund that the Board requires.  O. Reg. 333/08, s. 70 (9). (10) The Trustee may employ or retain the services of the persons, including counsel, accountants, appraisers or other experts or advisers, that it reasonably requires for the purpose of discharging its duties under this Part.  O. Reg. 333/08, s. 70 (10). (11) If the Trustee employs or retains the services of a person under subsection (10) who is a professional, the Trustee shall not be responsible for any act or omission of the person.  O. Reg. 333/08, s. 70 (11).
Trustee’s fees and expenses
 71. (1) The Trustee’s fee for performing its duties under this Part shall be paid from the Fund and shall be in the amount that the director, the Board and the Trustee mutually agree on, or if they do not agree, the amount that the director determines.  O. Reg. 333/08, s. 71 (1). (2) In addition to the fee mentioned in subsection (1), the Trustee is entitled to be reimbursed from the Fund for the following if the Board approves the amount of the reimbursement: 1.  All expenses that the Trustee reasonably incurs in performing its duties under this Part. 2.  The fees and expenses that the Trustee incurs in employing or retaining the services of persons under subsection 70 (10).  O. Reg. 333/08, s. 71 (2).
Resignation and removal of Trustee
 72. (1) The Trustee may resign as Trustee by giving 90 days notice in writing to the Board and to the director.  O. Reg. 333/08, s. 72 (1). (2) The Board, with the approval of the director, may remove the Trustee on giving 90 days notice in writing to the Trustee.  O. Reg. 333/08, s. 72 (2). (3) Upon the resignation or removal of the Trustee or if the Trustee is at any time unable to act, the Board shall, subject to subsection (4), appoint, as a successor Trustee, a trust corporation as defined in section 1 of the Loan and Trust Corporations Act that is authorized to do business in Ontario.  O. Reg. 333/08, s. 72 (3); O. Reg. 221/09, s. 18. (4) The Board shall not appoint a successor Trustee under subsection (3) unless the director approves the appointment.  O. Reg. 333/08, s. 72 (4). (5) Upon accepting the appointment, the successor Trustee shall have vested in it, without further act or formality, all the rights and powers given under this Part to the predecessor Trustee.  O. Reg. 333/08, s. 72 (5). (6) At the written request of the Board, the predecessor Trustee shall, (a)  execute and deliver an instrument in writing transferring to the successor Trustee all the rights, powers and property of the Fund that the predecessor Trustee has; and (b)  do all other acts or things necessary or desirable for the vesting of the property of the Fund in the successor Trustee.  O. Reg. 333/08, s. 72 (6). (7) The predecessor Trustee shall give the director and the Board a written account of its activities as Trustee in respect of the Fund for the entire period during which it was the Trustee in respect of the Fund or, if the Trustee provided certified financial statements under clause 70 (9) (b), for period since the end of the most recent period covered by those statements.  O. Reg. 333/08, s. 72 (7).
Information about Fund
 73. (1) The following may require the Board to provide specified information, books, records or documents respecting the affairs of the Fund: 1.  The director. 2.  If there is an administrative authority, the board of the authority.  O. Reg. 333/08, s. 73 (1). (2) The Board shall comply with a requirement under subsection (1).  O. Reg. 333/08, s. 73 (2).
Audits of Fund
 74. (1) If there is an administrative authority, the board of the authority may direct that the affairs of the Fund be audited.  O. Reg. 333/08, s. 74 (1). (2) At the request of the auditor performing an audit, the Board and the Trustee shall assist the auditor and shall provide all books, records and other information that are required in connection with the audit.  O. Reg. 333/08, s. 74 (2). Payments into Fund
Payments into Fund
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Payments into Fund
 75. (1) The payments required under this section are prescribed as payments imposed on the specified registrants for the purposes of subsection 42 (3) of the Act, subject to any different payments set under clause 12 (1) (c) of the Safety and Consumer Statutes Administration Act, 1996.  O. Reg. 333/08, s. 75 (1). (2) If an application for registration as a motor vehicle dealer in the class of general dealer, broker or lease finance dealer that is not a renewal of registration is granted, the dealer shall pay, (a)  $300 to the Fund for each place from which the dealer is authorized to trade if the dealer is registered in the class of general dealer or broker; or (b)  $300 to the Fund, if the dealer is registered in the class of lease finance dealer.  O. Reg. 333/08, s. 75 (2). (3) If a motor vehicle dealer registered in the class of general dealer or broker adds a place to the list of places from which the dealer is authorized to trade, the dealer shall forthwith pay $300 to the Fund for the added place.  O. Reg. 333/08, s. 75 (3). (4) If the Board determines that the value of the amounts in the Fund is, or is anticipated to be, less than $3,000,000 the Board may declare how much the shortfall is or is anticipated to be.  O. Reg. 333/08, s. 75 (4). (5) If the Board declares that there is a shortfall in the Fund, then for each motor vehicle dealer who is registered in a class for which the dealer is required to make a payment to the Fund at the time of registration, the Board shall, (a)  calculate an amount equal to the shortfall declared by the Board divided by the number of motor vehicle dealers registered at the time of the declaration, subject to subsection (5.1); and (b)  give notice in writing, at the dealer’s address for service, to the dealer stating, (i)  how much the Board declares the shortfall is or is anticipated to be, (ii)  the amount described in clause (a), and (iii)  the fact that the dealer is required to pay the amount described in clause (a) within 60 days of receiving the notice.  O. Reg. 333/08, s. 75 (5); O. Reg. 377/09, s. 8 (1, 2). (5.1) For the purposes of clause (5) (a), a motor vehicle dealer registered in the class of general dealer or broker that is authorized to trade from more than one place shall be counted as the number of registered motor vehicle dealers equal to the number of places from which the dealer is authorized to trade.  O. Reg. 377/09, s. 8 (3). (6) Subsection 37 (3) of the Act does not apply to a notice given under subsection (5).  O. Reg. 333/08, s. 75 (6). (7) A registered motor vehicle dealer who receives a notice under subsection (5) shall pay the amount stated in the notice to the Fund within 60 days of receiving the notice.  O. Reg. 333/08, s. 75 (7).
Payments in default
 76. (1) If a motor vehicle dealer registered as a general dealer, broker or lease finance dealer defaults in making a required payment to the Fund, the Board may give a notice in writing of the default to the dealer.  O. Reg. 333/08, s. 76 (1). (2) Subsection 37 (3) of the Act does not apply to a notice given under subsection (1).  O. Reg. 333/08, s. 76 (2). (3) If the registered motor vehicle dealer is still in default 21 days after receiving the notice under subsection (1), then in addition to being liable for the amount in default, the dealer is liable to the Fund for, (a)  a penalty of 10 per cent of the amount in default, except if the default is due to insolvency, bankruptcy or a voluntary or compulsory winding-up of the dealer; and (b)  interest on the amount in default at the postjudgment interest rate under section 127 of the Courts of Justice Act calculated from the day that is 21 days after the day the notice under subsection (1) was served.  O. Reg. 333/08, s. 76 (3).
Payers have no right to Fund
 77. For greater certainty, no payment to the Fund gives a registered motor vehicle dealer or a motor vehicle dealer formerly registered under the Act or the Motor Vehicle Dealers Act a right to any money or property in the Fund.  O. Reg. 333/08, s. 77.
Ceasing to be registered
 78. Upon ceasing to be registered in the class of general dealer, broker or lease finance dealer, a motor vehicle dealer shall provide the Board with, (a)  details in writing of every liability or obligation of the dealer that the dealer knows of that could give rise to an entitlement to compensation from the Fund, including unsettled claims against the dealer; and (b)  an explanation in writing of the arrangements, if any, the dealer has made to satisfy any of the liabilities and obligations of the dealer described in clause (a).  O. Reg. 333/08, s. 78. Claims
Procedure and time for claim
 80. (1) To make a claim for compensation from the Fund, a customer shall give written notice of the claim to the registrar within two years after the claim first meets the requirements set out in the relevant paragraph of subsection 79 (3).  O. Reg. 333/08, s. 80 (1). (2) If the Board considers it proper to do so, the Board may extend the time for making a claim for compensation.  O. Reg. 333/08, s. 80 (2). (3) The notice of the claim shall contain full particulars of the claim and full particulars of any partial payment or recovery that the customer has received or is entitled to receive in respect of the claim and shall be accompanied by all documents and other information that the Board requires to determine whether or not the customer is entitled to compensation from the Fund.  O. Reg. 333/08, s. 80 (3). (4) On receiving a notice of a claim and the accompanying documents and information, the registrar shall forward them to the Board.  O. Reg. 333/08, s. 80 (4).
Response of Board
 81. (1) The Board may request that the customer making a claim for compensation from the Fund provide documents or other information in addition to those that accompany the claim and may require that the additional documents or information be in the form of an affidavit or be supported by an affidavit.  O. Reg. 333/08, s. 81 (1). (2) The Board may request that a customer agree in writing to subrogate the Fund to any and all rights and remedies to which the customer is entitled in respect of payment of a claim for compensation from the Fund.  O. Reg. 333/08, s. 81 (2). (3) If the customer does not provide the additional documents or other information mentioned in subsection (1) or agree to the subrogation described in subsection (2) within one year after receiving the request under the applicable subsection, the claim shall be deemed to be abandoned, unless the Board is satisfied that it would not be fair to do so.  O. Reg. 333/08, s. 81 (3). (4) A customer whose claim is deemed to be abandoned shall not in any way revive the abandoned claim.  O. Reg. 333/08, s. 81 (4).
Determination of claims
 82. (1) The Board shall determine the eligibility of a claim for compensation from the Fund and the amount of the compensation payable and shall advise the Trustee of its determination.  O. Reg. 333/08, s. 82 (1). (2) The Trustee shall pay the compensation determined by the Board, subject to this section and section 83.  O. Reg. 333/08, s. 82 (2). (3) Before a customer is paid compensation from the Fund in respect of a claim, the Board may require that the customer, (a)  obtain a judgment in respect of the claim, cause an execution to be issued under it, cause levies to be made under it and examine the judgment debtors; (b)  exhaust any other legal remedies, in addition to those described in clause (a), available to the customer in respect of the claim; or (c)  bring an action against any person against whom the customer might reasonably be considered as having a cause of action in respect of the claim.  O. Reg. 333/08, s. 82 (3).
Limits on compensation
 83. (1) No person or body, including the Board and the Trustee, shall pay compensation from the Fund to a customer in respect of a claim if the amount of the compensation exceeds the amount that the customer would be entitled to from the registered motor vehicle dealer against whom the claim is made.  O. Reg. 333/08, s. 83 (1). (2) No person or body, including the Board and the Trustee, shall pay compensation from the Fund for interest unless a court has awarded the interest.  O. Reg. 333/08, s. 83 (2). (3) No person or body, including the Board and the Trustee, shall pay compensation from the Fund for an award of punitive damages by a court or for interest that relates to the award of punitive damages.  O. Reg. 333/08, s. 83 (3). (4) No person or body, including the Board and the Trustee, shall pay compensation from the Fund for costs unless a court has awarded the costs and the amount of the awarded costs relates to a disbursement or fee actually paid by the customer.  O. Reg. 333/08, s. 83 (4). (5) No person or body, including the Board and the Trustee, shall pay compensation from the Fund to a customer in respect of a claim if the total compensation, including compensation under section 84, exceeds $45,000.  O. Reg. 333/08, s. 83 (5). (6) For the purposes of subsection (5), the total compensation does not include any compensation paid for costs or interest awarded by a court.  O. Reg. 333/08, s. 83 (6).
Interim payment of compensation
 84. (1) If it appears to the Board that a customer is entitled to compensation from the Fund and that an immediate payment is necessary to alleviate undue inconvenience to the customer, the Board, with the concurrence of the director, may determine that the customer is eligible to receive an amount from the Fund immediately to alleviate the inconvenience.  O. Reg. 333/08, s. 84 (1). (2) If a quorum of the Board is not available, any two members of the Board may exercise the power described in subsection (1) with the concurrence of the director.  O. Reg. 333/08, s. 84 (2). (3) If the Board makes the determination described in subsection (1), it shall advise the Trustee of its determination and the Trustee shall pay the compensation determined by the Board.  O. Reg. 333/08, s. 84 (3). (4) Any amount paid by the Trustee under subsection (3) is an advance on, and shall be deducted from, any amount paid under subsection 82 (2).  O. Reg. 333/08, s. 84 (4).
Hearing by Tribunal
 85. (1) If the Board determines that a customer is not entitled to compensation from the Fund in respect of a claim or any part of it, the Board shall serve notice of its decision, together with written reasons, on the customer.  O. Reg. 333/08, s. 85 (1). (2) The customer is entitled to a hearing by the Tribunal if, within 15 days after being served with notice, the customer serves a written notice requesting a hearing on the registrar and the Tribunal.  O. Reg. 333/08, s. 85 (2). (3) The notice under subsection (1) shall inform the customer of the right to a hearing by the Tribunal and the manner and time within which to request the hearing.  O. Reg. 333/08, s. 85 (3). (4) If the customer does not request a hearing, the determination of the Board becomes final.  O. Reg. 333/08, s. 85 (4). (5) If the customer requests a hearing, the Tribunal shall appoint a time for and hold the hearing.  O. Reg. 333/08, s. 85 (5). (6) The customer, the Board and the other persons, if any, that the Tribunal specifies are parties to the hearing.  O. Reg. 333/08, s. 85 (6). (7) After the hearing, the Tribunal may, (a)  subject to subsection 82 (3) and section 83, allow the claim, in whole or in part, and direct the Trustee to pay the amount allowed from the Fund; or (b)  refuse to allow the claim.  O. Reg. 333/08, s. 85 (7). (8) For greater certainty, this section does not apply to a determination by the Board not to pay an amount under section 84.  O. Reg. 333/08, s. 85 (8).
Publishing decisions on claims
 86. (1) For the purposes of subsection 42 (7) of the Act, the Board shall make the following information available to the public with respect to the claims for payment of compensation from the Fund that were received in each year, based on the year that the Board determines, on or after the day this subsection comes into force: 1.  The total number of claims that were allowed in whole or in part and the total number that were denied. 2.  The total number of claims that were received but on which the Board has not made a determination. 3.  A summary of each claim described in paragraph 1 that includes, i.  the registered name of the registered motor vehicle dealer against whom the claim was made, if the claim has been allowed in whole or in part, ii.  the amount claimed, and iii.  if the claim was allowed in whole or in part and an amount was paid, the amount paid and the requirement, set out in a paragraph of subsection 79 (3), that the claim met.  O. Reg. 333/08, s. 86 (1). (2) The Board shall publish the information described in subsection (1) by electronic means and shall update the information at least four times a year.  O. Reg. 333/08, s. 86 (2). (3) The Board shall not publish, under this section, any personal information about an individual who is not a registered motor vehicle dealer without the individual’s prior consent.  O. Reg. 333/08, s. 86 (3).
Liability of registrants to Fund
 87. A registered motor vehicle dealer is required to reimburse the Fund for a claim paid to a customer of the dealer if, (a)  the claim arose from a trade in connection with which a court convicted the dealer of an offence and ordered the dealer to pay compensation or make restitution to the customer; (b)  the claim is described in paragraph 10 of subsection 79 (3); (c)  the dealer is insolvent; or (d)  the dealer has become a bankrupt or a winding-up order has been made or a receiver appointed in respect of the business of the dealer under the Bankruptcy and Insolvency Act
(Canada), the Companies’ Creditors Arrangement Act
(Canada) or the Winding-up and Restructuring Act
(Canada).  O. Reg. 333/08, s. 87.
Transition, claims relating to old trades
 88. A claim arising from a trade in a motor vehicle that takes place before the day this Regulation comes into force, whether the claim is made before or after the day this Regulation comes into force, shall be determined in accordance with Regulation 801 of the Revised Regulations of Ontario, 1990 (General) made under the Motor Vehicle Dealers Act, as that regulation read immediately before the day section 89 of this Regulation comes into force, including, for greater certainty, the procedures applicable under that Regulation 801.  O. Reg. 333/08, s. 88. 89. Omitted (revokes other Regulations).  O. Reg. 333/08, s. 89. 90. Omitted (provides for coming into force of provisions of this Regulation).  O. Reg. 333/08, s. 90.  Français