(a) the prescribed time has passed away considering that the refusal or revocation; and
(b) brand new or any other proof is present or it really is clear that material circumstances have actually changed. 2008, c. 9, s. 19.
Component III Regulation of Licensees
Disclosure to Registrar
Informative data on organization
20 (1) a job candidate for the renewal or licence of the licence this is certainly a firm shall reveal to your Registrar the identity of,
(a) every person or entity that beneficially has or controls 10 or maybe more regarding the equity stocks regarding the organization released and outstanding during the time of the applying; and
(b) people or entities which are related to each other and therefore together beneficially acquire or get a handle on 10 % or higher associated with equity stocks associated with corporation granted and outstanding during the time of the application form. 2008, c. 9, s. 20 (1).
Determining amount of stocks
(2) In determining the sum total wide range of equity stocks regarding the company beneficially owned or managed when it comes to purposes of subsection (1), the final number shall be determined whilst the final amount of all of the shares beneficially owned or managed, but each share that holds the proper to one or more vote will probably be determined since the amount of stocks equalling the sum total amount of votes carried. 2008, c. 9, s. 20 (2).
Notice of modifications in stocks
21 (1) besides the disclosure required under area 20, every licensee that is a business shall inform the Registrar written down within 1 month following the presssing dilemma of any equity stocks for the firm, in the event that problem results in,
(a) anyone or entity, or any individuals or entities that are related to one another, acquiring or acquiring ownership that is beneficial control over 10 percent or even more for the final amount of all of the granted and outstanding equity stocks for the business; or
(b) a rise in the portion of released and equity that is outstanding for the organization beneficially owned or managed by anybody or entity, or any people or entities which are related to one another, in the event that individual, entity or perhaps the associated people or entities currently beneficially owned or managed 10 percent or even more associated with final number of all of the given and outstanding equity shares of this company prior to the problem. 2008, c. 9, s. 21 (1).
Transfer of shares
(2) In addition to your disclosure needed under area 20, every licensee this is certainly a firm shall alert the Registrar written down within 30 days after it comes down into the attention of any of the officers or directors that a transfer of any equity stocks associated with the firm has happened, in the event that transfer creates either for the outcomes described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).
Determining amount of stocks
(3) In calculating the sum total wide range of equity stocks for the firm beneficially owned or managed for the intended purpose of this part, the final number shall be calculated since the total of all stocks beneficially owned or managed, but each share that holds the ability to one or more vote shall be determined once the range stocks equalling the full total range votes it holds. 2008, c. 9, s. 21 (3).
Notice of identity of individuals or entities
(4) The notice needed under subsection (1) or (2) shall recognize the individuals or entities described within the clause that is applicable of (1) or in subsection (2), because the instance might be. 2008, c. 9, s. 21 (4).
Notice of modifications to Registrar
22 (1) Every licensee shall, within five times following the occasion, notify the Registrar written down of,
(a) any improvement in the licensee’s target for solution; and
(b) when it comes to a firm or partnership bad credit installment loans, any change in the officers or directors for the licensee. 2008, c. 9, s. 22 (1).
(2) The Registrar is regarded as to possess gotten the notice mentioned in subsection (1),
(a) from the on which the Registrar actually received it, if it was not sent by mail; or day