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Canada Corporations Act

Version of section 114.4 from 2003-01-01 to 2017-12-30:


Marginal note:Expenses of investigations

  •  (1) The expenses of, and incidental to, an investigation, inquiry or inspection under section 114, 114.1 or 114.2 shall be defrayed out of moneys provided by Parliament therefor, but the following persons are, to the extent mentioned, liable to pay those expenses as a debt owing to Her Majesty in right of Canada:

    • (a) a person who is convicted on a prosecution arising out of facts disclosed by an investigation under section 114 or who is ordered to restore property or pay damages or compensation in proceedings brought under subsection 114(27) may in the same proceeding be ordered to pay to the Receiver General such expenses to such extent as may be specified in the order;

    • (b) a company in whose name proceedings are brought under subsection 114(27) is liable to Her Majesty in right of Canada for the amount or value of any sums or property recovered by it as a result of those proceedings, and the expenses are a first charge on such sums or property.

  • Marginal note:Idem

    (2) For the purposes of this section, any costs or expenses incurred by the Minister in connection with proceedings brought under subsection 114(27) shall be treated as expenses of the investigation giving rise to the proceedings.

  • Marginal note:Security for costs

    (3) Upon the recommendation of the Minister, the Commission may require any or all shareholders applying for an investigation to give such security as the Commission deems appropriate for the payment of the costs of the investigation and any resulting inquiry and inspection.

  • Marginal note:Order to pay costs

    (4) Upon the termination of the investigation, the Commission may order that any security given pursuant to subsection (3) be returned to the applicant but if the Commission holds that the application was vexatious or malicious it may

    • (a) order the applicant to pay to the Receiver General any or all of the costs of such investigation and any resulting inquiry or inspection,

    • (b) order the applicant to pay to the company any or all of the costs that it has incurred in connection with the investigation and any resulting inquiry or inspection, and

    • (c) order that any security given pursuant to subsection (3) be applied toward the payment of the costs referred to in paragraphs (a) and (b), in that order, and that the residue, if any, of such security not so applied, be returned to the applicant.

  • Marginal note:Debt to Her Majesty

    (5) Any costs ordered by the Commission to be paid to the Receiver General pursuant to subsection (4) shall be a debt owing to Her Majesty in right of Canada.

  • R.S., 1970, c. 10(1st Supp.), s. 12
  • 1986, c. 26, s. 53

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