Canada Business Corporations Regulations, 2001 (SOR/2001-512)

Regulations are current to 2017-10-13 and last amended on 2016-05-13. Previous Versions

PART 10Rules of Procedure for Applications for Exemptions

Application

 This Part applies to every application for an exemption under subsection 2(6), 10(2), 82(3) or 151(1), section 156 or subsection 171(2) or 187(11) of the Act.

Time of Filing Applications

  •  (1) An application for an exemption under

    • (a) subsection 2(6) of the Act may be made at any time;

    • (b) subsection 10(2) or 187(11) of the Act shall be made before the date of issue of the certificate of continuance referred to in subsection 187(4) of the Act;

    • (c) subsection 82(3) of the Act shall be made at least 30 days before the corporation is required to comply with Part VIII of the Act;

    • (d) subsection 151(1) of the Act shall be made before the date of the notice referred to in subsection 149(1) of the Act;

    • (e) section 156 of the Act shall be made at least 60 days before the documents in respect of which the exemption is requested are to be sent to the Director; and

    • (f) subsection 171(2) of the Act may be made at any time.

  • (2) Despite subsection (1), the Director shall extend the time for making an application for an exemption if the applicant establishes that no prejudice will result from the extension.

Notice by Director of Decision

 The Director shall, within 30 days after receipt of an application for an exemption, grant the exemption requested or send to the applicant written notice of the Director’s refusal, together with reasons for the refusal.

General

 The Director may request that an applicant for an exemption provide the Director with further information or that any other person provide the Director with information in writing that is relevant to the application.

 The Director shall give the applicant for an exemption a copy of any information received from any other person under section 91 and shall allow the applicant a reasonable opportunity to respond in writing.

 If an applicant for an exemption or a person from whom the Director has requested information under section 91 does not provide the information within the time specified by the Director, the Director may deal with the application without regard to the information.

 If the Director does not grant an exemption or send written notice of the Director’s refusal within the time specified in section 90, the applicant may exercise their rights under section 246 of the Act as if the Director had refused the exemption.

PART 11Value of Total Financial Interest

 For the purpose of paragraph 237.5(1)(b) of the Act, the prescribed amount of the value of the plaintiff’s total financial interest is $20,000.

PART 12Cancellation of Articles and Certificates

  •  (1) For the purpose of subsection 265.1(1) of the Act, the prescribed circumstances are that

    • (a) there is an obvious error in the articles or in the related certificate;

    • (b) there is an error in the articles or in the related certificate that was made by the Director;

    • (c) the cancellation of the articles and related certificate is ordered by a court; or

    • (d) the Director lacked the authority to issue the articles and related certificate.

  • (2) For the purpose of subsection 265.1(3) of the Act, the prescribed circumstances are that there is no dispute among the directors or shareholders as to the circumstances of the request for cancellation and

    • (a) the corporation has not used the articles and related certificate; or

    • (b) if it has used them, anyone dealing with the corporation on the basis of the articles and related certificate has consented to the cancellation.

  • SOR/2010-128, s. 20.

PART 13Prescribed Fees

  •  (1) The fee in respect of the filing, examination or copying of any document or in respect of any action that the Director is required or authorized to take under the Act, set out in column 1 of an item of Schedule 5,

    • (a) is the applicable fee set out in column 2 of that item.

    • (b) [Repealed, SOR/2010-128, s. 21]

  • (2) No fee is payable for the issuance by the Director of

    • (a) a certificate of amendment issued under section 178 of the Act, if the only purpose of the amendment is to add an English or a French version to a corporation’s name, or to replace a corporate name that the Director has directed be changed under subsection 12(2) or (4) of the Act; or

    • (b) and (c) [Repealed, SOR/2010-128, s. 21]

    • (d) a corrected certificate issued under subsection 265(6) of the Act when the correction is required solely as the result of an error made by the Director.

  • (3) For the purpose of subsection 49(2) of the Act, the prescribed maximum fee for the issuance of a security certificate is $3.

  • SOR/2010-128, s. 21.

Repeal

 [Repeal]

Coming into Force

 These Regulations come into force on the day on November 24, 2001.

 
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