(b) brand brand new or any other proof is present or it really is clear that product circumstances have actually changed. 2008, c. 9, s. 19.
Component III Regulation of Licensees
Disclosure to Registrar
Informative data on business
20 (1) a job candidate for a licence or renewal of the licence this is certainly a business shall reveal to your Registrar the identity of,
(a) each individual or entity that beneficially has or controls 10 percent or maybe more associated with the equity stocks for the organization released and outstanding during the time of the application; and
(b) people or entities which can be connected with each other and that together beneficially acquire or get a handle on 10 % or higher regarding the equity stocks regarding the firm given and outstanding during the time of the application. 2008, c. 9, s. 20 (1).
Determining amount of shares
(2) In determining the sum total amount of equity stocks associated with company beneficially owned or managed for the purposes of subsection (1), the final amount shall be determined given that final amount of most stocks beneficially owned or managed, but each share that holds the ability to one or more vote will probably be determined since the wide range of stocks equalling the sum total wide range of votes carried. 2008, c. 9, s. 20 (2).
Notice of modifications in shares
21 (1) In addition to the disclosure needed under part 20, every licensee that is a company shall alert the Registrar written down within thirty day period following the problem of any equity stocks associated with the company, in the event that problem results in,
(a) anyone or entity, or any people or entities which are connected with one another, acquiring or amassing ownership that is beneficial control over 10 percent or higher associated with final number of most given and outstanding equity stocks associated with organization; or
(b) a rise in the portion of released and equity that is outstanding of this business beneficially owned or managed by anybody or entity, or any individuals or entities which can be related to one another, in the event that individual, entity or even the associated people or entities already beneficially owned or controlled 10 % or maybe more regarding the final number of all of the released and outstanding equity stocks associated with company prior to the problem. 2008, c. 9, s. 21 (1).
Transfer of shares
(2) In addition towards the disclosure needed under area 20, every licensee this is certainly an organization shall alert the Registrar written down within thirty days after it comes down towards the attention of any of their officers or directors that a transfer of every equity stocks associated with the business has happened, in the event that transfer creates either for the results described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).
Determining installment loans amount of stocks
(3) In determining the sum total amount of equity stocks regarding the company beneficially owned or managed for the true purpose of this area, the number that is total be determined whilst the total of all of the stocks beneficially owned or managed, but each share that holds the best to one or more vote will probably be determined due to the fact quantity of stocks equalling the sum total wide range of 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 people or entities described into the relevant clause of subsection (1) or perhaps in subsection (2), once the instance could 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 service; and
(b) when it comes to a company or partnership, any improvement in the officers or directors for the licensee. 2008, c. 9, s. 22 (1).
(2) The Registrar is viewed as to own gotten the notice mentioned in subsection (1),
(a) regarding the on which the Registrar actually received it, if it was not sent by mail; or day