Orders and Directives
Marginal note:Not statutory instruments
528 An instrument issued or made under this Act and directed to a single company or person, other than an order referred to in section 487, is not a statutory instrument for the purposes of the Statutory Instruments Act.
529 The Superintendent may, by order, establish the form of any application to be made to the Minister or the Superintendent under this Act.
Applications to Superintendent
Marginal note:Content of applications
(a) applications for approval under subsection 68(1), 75(2), 78(4), 82(5), 83(1), 174(1), 222(3), 421(1), 453(6) or (10), 456(1) or (2) or 470(1), subparagraph 475(2)(b)(vi), section 478 or subsection 482(3) or (4) or 483.3(1);
(b) applications for consent under subsection 74(1);
(c) applications for exemptions under subsection 160.05(3); and
(d) applications for extensions of time under subsection 456(3) or (5), 457(4) or 458(4).
(2) Without delay after receiving the application, the Superintendent shall send a receipt to the applicant certifying the date on which it was received.
Marginal note:Notice of decision to applicant
(3) Subject to subsection (4), the Superintendent shall, within a period of thirty days after the receipt of the application, send to the applicant
Marginal note:Extension of period
(4) If the Superintendent is unable to complete the consideration of the application within the period referred to in subsection (3), the Superintendent shall, within that period, send a notice to the applicant informing the applicant that the Superintendent has extended the period for a further period set out in the notice.
Marginal note:Deemed approval
(5) If the applicant does not receive the notice required by subsection (3) and, where applicable, subsection (4), within the required period, the Superintendent is deemed to have approved the application and granted the approval, consent, extension or exemption to which the application relates, regardless of whether the approval, consent, extension or exemption is to be in writing or not.
- 2001, c. 9, s. 568;
- 2007, c. 6, s. 383.
Applications for Certain Approvals
Marginal note:Application for certain approvals
529.2 (1) An application for the prior written approval of the Minister in respect of paragraph 410(1)(c) or (c.1) or 453(5)(b.1), (c), (d) or (d.1) must be filed with the Superintendent and contain the information, material and evidence that the Superintendent may require.
Marginal note:Certification of receipt of application
(2) If, in the opinion of the Superintendent, the application contains all the required information, the Superintendent must refer it to the Minister, together with his or her analysis in relation to the application, and send a receipt to the applicant certifying the date on which the application was referred to the Minister.
Marginal note:Incomplete application
(3) If, in the opinion of the Superintendent, the application is incomplete, the Superintendent must send a notice to the applicant specifying the information required by the Superintendent to complete it.
Marginal note:Notice of decision
(4) Subject to subsection (5), the Minister must, within 30 days after the certified date referred to in subsection (2), send to the applicant
Marginal note:Extension of period
(5) If the Minister is unable to complete the consideration of an application within the 30-day period, the Minister must, within that period, send a notice to the applicant informing the applicant that the Minister has extended the period for a further period set out in the notice.
Marginal note:Deemed approval
(6) If the Minister does not send the notice referred to in subsection (4) or, where applicable, subsection (5), within the required period, the Minister is deemed to have approved the application.
- 2007, c. 6, s. 384;
- 2012, c. 5, s. 182.
Marginal note:Appeal to Federal Court
(2) The Federal Court may, in an appeal under subsection (1),
(3) For the purposes of an appeal under subsection (1), the Minister shall, at the request of the company or person making the appeal, provide the company or person with a certificate in writing setting out the direction or decision appealed from and the reasons why the direction or decision was made.
- 1991, c. 45, ss. 530, 540;
- 1996, c. 6, s. 132;
- 2012, c. 31, s. 108.
Marginal note:Power to make regulations
(a) prescribing anything that is required or authorized by this Act to be prescribed;
(a.1) prescribing the way in which anything that is required or authorized by this Act to be prescribed shall be determined;
(b) defining words and expressions to be defined for the purposes of this Act;
(c) requiring the payment of a fee in respect of the filing, examining or issuing of any document or in respect of any action that the Superintendent is required or authorized to take under this Act, and fixing the amount thereof or the manner of determining the amount thereof;
(d) respecting the regulatory capital and total assets of a company;
(e) respecting the retention, in Canada, of assets of a company;
(f) respecting the value of assets of a company to be held in Canada and the manner in which those assets are to be held;
(f.1) respecting, for any purpose of any provision of the Act, the determination of the equity of a company;
(g) respecting the protection and maintenance of assets of a company and assets held in trust by a company, including regulations respecting the bonding of directors, officers and employees of a company;
(h) respecting the holding of shares and ownership interests for the purposes of sections 73 and 77;
(i) respecting information, in addition to the information required by section 501, to be maintained in the register referred to in that section; and
(j) generally for carrying out the purposes and provisions of this Act.
Marginal note:Incorporation by reference
(2) The regulations may incorporate any material by reference regardless of its source and either as it exists on a particular date or as amended from time to time.
Marginal note:Incorporated material is not a regulation
- 1991, c. 45, s. 531;
- 1997, c. 15, s. 408;
- 1999, c. 31, s. 220(F);
- 2001, c. 9, s. 569;
- 2005, c. 54, s. 449.
532 The Minister may delegate any of the Minister’s powers, duties and functions under this Act to any Minister of State appointed pursuant to the Ministries and Ministers of State Act to assist the Minister.
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