Acts and Regulations

S-5.5 - Securities Act

Section 129
Disposition versions

Full text
Applications to the Tribunal
2013, c.31, s.36
129(1)If the Tribunal is of the opinion that a person has not complied with or is not complying with this Part or the regulations relating to this Part, the Tribunal, subject to those terms and conditions that it considers appropriate, may make an order
(a) restraining the distribution of any document or any communication used or issued in connection with a take-over bid or issuer bid,
(b) requiring an amendment to or variation of any document or any communication used or issued in connection with a take-over bid or issuer bid and requiring the distribution of any amended, varied or corrected document or communication, and
(c) directing any person to comply with this Part or the regulations relating to this Part or restraining any person from contravening this Part or the regulations relating to this Part and directing the directors and officers of the person to cause the person to comply with or to cease contravening this Part or the regulations relating to this Part.
129(2)If the Tribunal is of the opinion that to do so would not be prejudicial to the public interest, the Tribunal, subject to those terms and conditions that it considers appropriate, may make an order exempting, in whole or in part, a person or class of persons from any of the requirements of this Part or the regulations relating to this Part.
129(3)An order under subsection (1) or (2) may be made on the application of the Commission or of an interested person.
129(4)An order under subsection (2) may be retroactive in its operation.
2007, c.38, s.120; 2013, c.31, s.36
Applications to the Commission
129(1)Where the Commission is of the opinion that a person has not complied with or is not complying with this Part or the regulations relating to this Part, the Commission may, subject to such terms and conditions as it considers appropriate, make an order
(a) restraining the distribution of any document or any communication used or issued in connection with a take-over bid or issuer bid,
(b) requiring an amendment to or variation of any document or any communication used or issued in connection with a take-over bid or issuer bid and requiring the distribution of any amended, varied or corrected document or communication, and
(c) directing any person to comply with this Part or the regulations relating to this Part or restraining any person from contravening this Part or the regulations relating to this Part and directing the directors and officers of the person to cause the person to comply with or to cease contravening this Part or the regulations relating to this Part.
129(2)Where the Commission is of the opinion that to do so would not be prejudicial to the public interest, the Commission may, subject to such terms and conditions as it considers appropriate, make an order exempting, in whole or in part, a person or class of persons from any of the requirements of this Part or the regulations relating to this Part.
129(3)An order under subsection (1) or (2) may be made on the application of an interested person or on the Commission’s own motion.
129(4)An order under subsection (2) may be retroactive in its operation.
2007, c.38, s.120
Applications to the Commission
129(1)Where the Commission is of the opinion that a person has not complied or is not complying with this Part or the regulations relating to this Part, the Commission may, subject to such terms and conditions as it considers appropriate, make an order
(a) restraining the distribution of any document used or issued in connection with a take-over bid or issuer bid,
(b) requiring an amendment to or variation of any document used or issued in connection with a take-over bid or issuer bid and requiring the distribution of any amended, varied or corrected document, and
(c) directing any person to comply with this Part or the regulations relating to this Part or restraining any person from contravening this Part or the regulations relating to this Part and directing the directors and senior officers of the person to cause the person to comply with or to cease contravening this Part or the regulations relating to this Part.
129(2)Where the Commission is of the opinion that do so would not be prejudicial to the public interest, the Commission may, subject to such terms and conditions as it considers appropriate, make an order
(a) deciding for the purposes of subsection 122(2) that an agreement, commitment or understanding with a selling security holder is made for reasons other than to increase the value of the consideration paid to the selling security holder for the securities of the selling security holder and that the agreement, commitment or understanding may be entered into notwithstanding that subsection,
(b) varying any time period set out in this Part or the regulations relating to this Part, and
(c) exempting, in whole or in part, a person or class of persons from any of the requirements of this Part or the regulations relating to this Part.
129(3)An order under subsection (1) or (2) may be made on the application of an interested person or on the Commission’s own motion.
129(4)An order under paragraph (2)(c) may be retroactive in its operation.