jswizzle3737/ontario_laws_and_regs huggingface dataset:
0.1 (1) The following are the circumstances in which a member of a co-operative is not required to be employed by the co-operative, for the purposes of the definition of “worker co-operative” in subsection 1 (1) of the Act: 1. The member of the co-operative is a member of a trade union that has entered into a collective agreement with the co-operative, a term of which is that the trade union is engaged in the selection, referral, assignment, designation or scheduling of persons to employment. 2. The co-operative has been incorporated for less than two years. 3.  Revoked:  R.R.O. 1990, Reg. 178, s. 0.1 (2). O. Reg. 495/92, s. 1. (2) Spent:  O. Reg. 495/92, s. 1.
1. Revoked:  O. Reg. 318/98, s. 1. Incorporation
2. Revoked:  O. Reg. 318/98, s. 1.
2.1 (1) For the purpose of subsection 5 (1) of the Act, the incorporators of a non-profit housing co-operative must provide the following: 1. If the incorporation does not involve the conversion of a residential complex, a statement to that effect, signed by each first director. 2. If the incorporation does involve the conversion of a residential complex, a plan prepared by an organization or individual in the business of developing non-profit co-operative housing.  O. Reg. 234/95, s. 1; O. Reg. 164/19, s. 1 (1). (2) The plan for converting the residential complex must include the following information: 1. A brief description of the conversion process. 2. A description of the rights of residents to remain in the residential complex if they do not become members of the co-operative. 3. A description of the method for determining the level of support among the residents for converting the residential complex.  O. Reg. 234/95, s. 1; O. Reg. 164/19, s. 1 (2). (3) In this section, “residential complex” means a residential complex as defined in subsection 2 (1) of the Residential Tenancies Act, 2006, but does not include the entities listed in section 5 of that Act. O. Reg. 164/19, s. 1 (3).
3. Revoked:  O. Reg. 318/98, s. 1. Name
4. Where the name of a co-operative to be incorporated is the same as or similar to the name of any known corporation, association, partnership or individual, whether in existence or not, so as to be, in the opinion of the Minister, likely to deceive, the name of the co-operative to be incorporated shall contain such variation from that of the known corporation, association, partnership or individual as the Minister determines.  R.R.O. 1990, Reg. 178, s. 4.
5. The name of the co-operative shall not be too general in character unless the name has become established by a long and continuous prior use.  R.R.O. 1990, Reg. 178, s. 5.
6. Where the name of a co-operative contains initials or numerals, the Minister may in his or her discretion require the addition of some distinctive word.  R.R.O. 1990, Reg. 178, s. 6.
7. The name of a co-operative shall not include the word “amalgamated”, “fusionné” or any other related word or expression unless the co-operative is an amalgamated co-operative resulting from the amalgamation of two or more co-operatives. O. Reg. 164/19, s. 2.
8. The name of a co-operative shall not include the word “condominium” or any derivation thereof.  R.R.O. 1990, Reg. 178, s. 8.
9. The name of a co-operative shall not include the word “veteran”, “ancien combattant” or any abbreviation or derivation thereof unless there has been a long and continuous prior use of the name. O. Reg. 164/19, s. 3.
10. Where a person has reserved a name and at the expiration of the period for which the name has been reserved no co-operative with that name or a similar name has been incorporated, the name or a similar name shall not be reserved until the expiration of one year thereafter.  R.R.O. 1990, Reg. 178, s. 10. Redemption of Certain Shares
11. (1) This section prescribes the manner of selecting the shares of a series of preference shares that are to be redeemed in the circumstances described in subsection 31 (1.1) of the Act.  O. Reg. 414/07, s. 1. (2) Subject to subsection (3), the shares of a series of preference shares that are to be redeemed shall be selected in one of the following ways: 1. By lot, within the series, in the manner determined by the board of directors. 2. As nearly as may be in proportion to the number of preference shares of the series that are registered in the name of each holder of shares of that series. 3. In such other manner as the board of directors determines with the consent of the holders of preference shares of the series, obtained in the manner set out in subsection 31 (3) of the Act. 4. By date of issuance, within the series, from the earliest date to the latest.  O. Reg. 414/07, s. 1. (3) The articles may confine the manner of selection to one or more of the ways described in subsection (2).  O. Reg. 414/07, s. 1. Offering Statement and Material Change Statement
11.1 For the purposes of subsection 34 (1) of the Act, the prescribed number of security holders is 35.  O. Reg. 414/07, s. 2.
12.1 For the purposes of subsection 35 (6) of the Act, the following changes are not material changes: 1. A change that affects the co-operative’s gross revenue or gross sales by less than $20,000. 2. A change that affects the co-operative’s net income or loss by less than $10,000.  O. Reg. 495/92, s. 1. Prescribed Percentages
12.2 (1) For the purpose of subsections 49 (1) and 56 (4), clause 57 (2) (a) and subsections 58 (2) and 171.2 (2) of the Act, the maximum annual percentage shall be 2 per cent above the prime rate established, as of the first day of the month before the month in which the rate of interest is set or the dividend is declared, by a bank listed under Schedule I or II to the Bank Act
(Canada), a trust corporation, caisse populaire or credit union named in the co-operative’s by-laws.  O. Reg. 495/92, s. 1; O. Reg. 773/92, s. 1; O. Reg. 234/95, s. 3. (2) If a co-operative has not named a bank, a trust corporation, a caisse populaire or a credit union in its by-laws, the maximum annual percentage shall be 2 per cent above the prime rate established by the Bank of Canada as of the first day of the month before the month in which the rate of interest is set or the dividend is declared.  O. Reg. 495/92, s. 1; O. Reg. 773/92, s. 1. (3) Despite subsections (1) and (2), if a co-operative has entered into a contractual agreement to pay a specified rate of interest or dividend before or on the day sections 7, 8, 10, 11, 12 and 23 of the Co-operative Corporations Statute Law Amendment Act, 1992 come into force, the rate of interest or dividend paid under the agreement shall be as specified in the agreement.  O. Reg. 495/92, s. 1. Prescribed Maximum Premium
12.3 For the purpose of subsection 30.1 (3) of the Act, the premium payable on the purchase for cancellation or redemption of a share of a class of preference shares shall not exceed the greater of, (a) the par value of the share multiplied by 10 per cent per annum compounded annually, calculated from the date the first share of the class was issued to the date of purchase for cancellation or redemption of the share; and (b) the par value of the share multiplied by the percentage increase in the Consumer Price Index for Canada (all items), as published by Statistics Canada under the Statistics Act
(Canada), calculated from the month during which the first share of the class was issued to the month during which the share is purchased for cancellation or redeemed.  O. Reg. 234/95, s. 4. Continuous Disclosure
12.4 (1) Every co-operative that has issued securities under an offering statement to non-members shall send each of them a material change statement as soon as practicable after being issued a receipt for the statement by the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario. O. Reg. 41/20, s. 2 (2) The material change statement shall contain a copy of the financial statements and the auditor’s report, if any, sent to each member.  O. Reg. 234/95, s. 4. Arbitration by Dissenting Shareholders
12.5 (1) If a shareholder dissents as to the price at which a co-operative proposes to purchase for cancellation or redeem shares under subsection 32.1 (1) of the Act, the price shall be determined by arbitration by one person chosen by both the co-operative and the shareholder.  O. Reg. 234/95, s. 4. (2) If the co-operative and shareholder cannot agree on a single arbitrator, the arbitration shall be by a panel of three persons.  O. Reg. 234/95, s. 4. (3) An arbitration panel shall be comprised of one person nominated by the co-operative, one person nominated by the shareholder and one person selected by the two nominees.  O. Reg. 234/95, s. 4. (4) The Arbitration Act, 1991 applies, with necessary modifications, to arbitrations under this section. O. Reg. 234/95, s. 4; O. Reg. 124/18, s. 1. Exemptions from Offering Statements
12.6 Subsection 34 (1) of the Act does not apply to the following shares and debt obligations of a co-operative: 1. Shares issued to members if the value of such an issue does not exceed $1,000 per member in a year and does not exceed an aggregate value of $10,000 per member. 2. Debt obligations issued to members if the value of such an issue does not exceed $1,000 per member in a year and does not exceed an aggregate value of $10,000 per member. 3. Shares issued under subsection 56 (1) of the Act. 4. Debt obligations issued under subsection 56 (4) of the Act. 5. Stock dividends issued under section 59 of the Act. 6. Securities issued by the co-operative to its members, if the offering does not result in the co-operative having more than $200,000 of issued and outstanding securities. 7. Securities issued by the co-operative to Her Majesty in right of Canada or a province or territory of Canada. 8. Securities issued by the co-operative to a municipal corporation, public board or commission in Canada. 9. Securities issued by the co-operative to a bank listed in Schedule I or II to the Bank Act (Canada) or to the Business Development Bank of Canada. 10. Securities issued by the co-operative to a loan or trust corporation registered under the Loan and Trust Corporations Act. 11. Securities issued by the co-operative to a credit union or central to which the Credit Unions and Caisses Populaires Act, 2020 applies. 12. Securities issued by the co-operative to an insurance company licensed under the Insurance Act. 13. Securities issued by the co-operative to a subsidiary of a corporation described in paragraph 9, 10, 11 or 12 if the corporation owns all of the voting shares of the subsidiary. 14. Securities issued by the co-operative to a dealer registered under the Securities Act as a broker, investment dealer or securities dealer.  O. Reg. 234/95, s. 4; O. Reg. 318/98, s. 4; O. Reg. 130/22, s. 1. Definition of “Fair Market Value”
12.7 For the purpose of subsection 56 (5) of the Act, “fair market value”, of the shares, means the greater of, (a) the par value of the shares, and (b) the price that a buyer would pay to a seller, both acting prudently, knowledgeably and willingly, in an arm’s length transaction in an open market under conditions requisite to a fair sale.  O. Reg. 234/95, s. 4. Definition of “Fair Value”
12.8 For the purpose of subsection 69 (3) of the Act,  “fair value” means the price that a buyer would pay to a seller, both acting prudently, knowledgeably and willingly, in an arm’s length transaction in an open market under conditions requisite to a fair sale.  O. Reg. 234/95, s. 4.
12.9 For the purposes of clauses 64 (3) (a), 64 (5) (a) and subsection 66 (6) of the Act,  “prescribed shares” means preference shares that provide that the co-operative is not obliged to redeem the shares.  O. Reg. 234/95, s. 4.
13. Revoked:  O. Reg. 318/98, s. 5.
13.1 Revoked: O. Reg. 41/20, s. 3.
14. Revoked:  O. Reg. 318/98, s. 5.
15. Revoked:  O. Reg. 318/98, s. 5.
16. Revoked:  O. Reg. 318/98, s. 5. Articles of Dissolution
17. Articles of dissolution under subsection 164 (1) of the Act must be accompanied by a consent of the Account Management and Collections Branch of the Ministry of Finance to the dissolution of the co-operative.  O. Reg. 318/98, s. 6; O. Reg. 41/20, s. 4. Revival
18. An application for an order of revival under subsection 167 (3) of the Act must be accompanied by, (a) a consent of the Account Management and Collections Branch of the Ministry of Finance to the revival of the co-operative; and (b) a written statement from the Public Guardian and Trustee that he or she does not object to the revival of the co-operative.  O. Reg. 318/98, s. 6; O. Reg. 41/20, s. 4. Evidence of Solvency
19. For the purposes of subsection 153 (2) and subsection 157 (2) of the Act, evidence that the co-operative is not insolvent shall consist of, (a) affidavits of two officers or of one officer and one director stating that in their opinion the co-operative is not insolvent within the meaning of subsection 1 (5) of the Act; and (b) such other evidence as the Minister may require.  R.R.O. 1990, Reg. 178, s. 19.
20. For the purposes of subsection 153 (3) of the Act, evidence that the co-operative is not insolvent and that the decrease of the authorized or issued capital will not render the co-operative insolvent shall consist of, (a) affidavits of two officers or of one officer and one director stating that in their opinion the co-operative is not insolvent and that the decrease of the authorized or issued capital will not render the co-operative insolvent within the meaning of subsection 1 (5) of the Act; and (b) such other evidence as the Minister may require.  R.R.O. 1990, Reg. 178, s. 20.
20.1 Revoked:  O. Reg. 318/98, s. 7.
21., 22. Revoked: O. Reg. 192/23, s. 1.
23. Revoked:  O. Reg. 318/98, s. 7. Miscellaneous
24. (1) For the purposes of clause (c) of the definition of “certified copy” in subsection 1 (1) of the Act, every director and manager of the Ministry is designated to the extent their duties relate to the administration of the provision of the Act under which the certified copy is provided. O. Reg. 164/19, s. 6. (2) For the purposes of subsection 182 (1) of the Act, every director and manager of the Ministry is designated to the extent their duties relate to the administration of the provision of the Act under which the certificate is provided. O. Reg. 164/19, s. 6. Schedule Revoked:  O. Reg. 318/98, s. 9. Forms 1-3 Revoked:  O. Reg. 318/98, s. 10. Forms 4, 5 Revoked:  O. Reg. 234/95, s. 7. Forms 6-16 Revoked:  O. Reg. 318/98, s. 10.  Français