Document ID: chunk:federal_register_of_legislation:C2025C00139:section:14:p42
Version: federal_register_of_legislation:C2025C00139
Segment Type: section
Provision Reference: s 14 (pt 42/66)
Character Range: 137222–140211

Act.

95‑40  Other powers of a court unaffected
  The powers conferred on a court under this Division are in addition to, and not instead of, any other powers of the court, whether conferred by this Act or otherwise.

Division 100—Suspension and removal of responsible entities

Subdivision 100‑A—Overview

100‑1  Simplified outline
  The following is a simplified outline of this Division:

      The Commissioner's guidance and education (see section 110‑10) will assist registered entities to comply with and understand their obligations under this Act. However, where enforcement action is required, the Commissioner's range of enforcement powers includes the power to suspend or remove a responsible entity of a registered entity, so that the Commissioner can provide a proportionate and effective regulatory response.
      The Commissioner may suspend or remove a responsible entity of a registered entity if:
             (a) the registered entity is a federally regulated entity and the Commissioner reasonably believes that the registered entity has contravened a provision of this Act, or that it is more likely than not that the registered entity will contravene a provision of this Act; or
             (b) the registered entity is a federally regulated entity and the Commissioner reasonably believes that the registered entity has not complied with a governance standard, or that it is more likely than not that the registered entity will not comply with a governance standard; or
             (c) the Commissioner reasonably believes that the registered entity has not complied with an external conduct standard, or that it is more likely than not that the registered entity will not comply with an external conduct standard.
      The Commissioner may only do so if the suspension or removal is necessary to address the contravention or non‑compliance, and may only do so after considering a range of policy matters.
      A decision of the Commissioner to suspend or remove a responsible entity is reviewable in accordance with Part 7‑2.
      The Commissioner may appoint acting responsible entities to replace suspended or removed responsible entities, so that the registered entity may continue to function.
      Subdivision 100‑D deals with the property of a registered entity that is a trust, if a trustee of the trust is suspended or removed.

Subdivision 100‑B—Suspension and removal of responsible entities

100‑5  Commissioner's exercise of power under this Subdivision
 (1) The Commissioner can exercise a power under this Subdivision in relation to a registered entity only if:
 (a) the registered entity is a federally regulated entity and the Commissioner reasonably believes that:
 (i) the registered entity has contravened a provision of this Act; or
 (ii) it is more likely than not that the registered entity will contravene a provision of this Act; or
 (b) the registered entity is a federally regulated entity and the Commissioner reasonably believes