Acts and Regulations

S-5.5 - Securities Act

Full text
Interim preservation of property
183(1)On the application of the Commission, the Tribunal may make one or more of the following orders if the Tribunal considers it expedient for the administration of New Brunswick securities law or to assist in the administration of another jurisdiction’s securities laws or another jurisdiction’s laws regulating derivatives:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities, derivatives or property of any person, including funds, securities, derivatives or other property held as collateral to secure the obligations of that person to retain those funds, securities, derivatives or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities, derivatives or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities, derivatives or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities, derivatives or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of King’s Bench to continue the order or for such other order as the Court of King’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Tribunal may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities, derivatives or property or as to a claim being made to that person by any person not named in the order may apply to the Tribunal for direction or clarification.
183(7)The Tribunal, on the application of the Commission or of a person directly affected by the order, may revoke an order under subsection (1) or permit the release of any funds, securities, derivatives or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Tribunal may order a notice submitted under subsection (8) to be revoked or modified and, if an order is made, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181; 2008, c.22, s.53; 2013, c.31, s.36; 2013, c.43, s.33; 2023, c.2, s.201; 2023, c.17, s.253
Interim preservation of property
183(1)On the application of the Commission, the Tribunal may make one or more of the following orders if the Tribunal considers it expedient for the administration of New Brunswick securities law or to assist in the administration of another jurisdiction’s securities laws or another jurisdiction’s laws regulating derivatives:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities, derivatives or property of any person, including funds, securities, derivatives or other property held as collateral to secure the obligations of that person to retain those funds, securities, derivatives or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities, derivatives or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities, derivatives or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities, derivatives or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Tribunal may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities, derivatives or property or as to a claim being made to that person by any person not named in the order may apply to the Tribunal for direction or clarification.
183(7)The Tribunal, on the application of the Commission or of a person directly affected by the order, may revoke an order under subsection (1) or permit the release of any funds, securities, derivatives or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Tribunal may order a notice submitted under subsection (8) to be revoked or modified and, if an order is made, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181; 2008, c.22, s.53; 2013, c.31, s.36; 2013, c.43, s.33
Interim preservation of property
183(1)On the application of the Commission, the Tribunal may make one or more of the following orders if the Tribunal considers it expedient for the administration of New Brunswick securities law or to assist in the administration of another jurisdiction’s securities laws or another jurisdiction’s laws regulating derivatives:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities, derivatives or property of any person, including funds, securities, derivatives or other property held as collateral to secure the obligations of that person to retain those funds, securities, derivatives or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities, derivatives or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities, derivatives or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities, derivatives or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Tribunal may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities, derivatives or property or as to a claim being made to that person by any person not named in the order may apply to the Tribunal for direction or clarification.
183(7)The Tribunal, on the application of the Commission or of a person directly affected by the order, may revoke an order under subsection (1) or permit the release of any funds, securities, derivatives or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Tribunal may order a notice submitted under subsection (8) to be revoked or modified and, if an order is made, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181; 2008, c.22, s.53; 2013, c.31, s.36; 2013, c.43, s.33
Interim preservation of property
183(1)On the application of the Commission, the Tribunal may make one or more of the following orders if the Tribunal considers it expedient for the administration of New Brunswick securities law or to assist in the administration of another jurisdiction’s securities laws or another jurisdiction’s laws regulating exchange contracts:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities, exchange contracts or property of any person to retain those funds, securities, exchange contracts or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities, exchange contracts or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities, exchange contracts or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities, exchange contracts or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Tribunal may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities, exchange contracts or property or as to a claim being made to that person by any person not named in the order may apply to the Tribunal for direction or clarification.
183(7)The Tribunal, on the application of the Commission or of a person directly affected by the order, may revoke an order under subsection (1) or permit the release of any funds, securities, exchange contracts or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Tribunal may order a notice submitted under subsection (8) to be revoked or modified and, if an order is made, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181; 2008, c.22, s.53; 2013, c.31, s.36
Interim preservation of property
183(1)If the Commission considers it expedient for the administration of New Brunswick securities law or to assist in the administration of another jurisdiction’s securities laws or another jurisdiction’s laws regulating exchange contracts, the Commission may make one or more of the following orders:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities, exchange contracts or property of any person to retain those funds, securities, exchange contracts or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities, exchange contracts or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities, exchange contracts or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities, exchange contracts or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Commission may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities, exchange contracts or property or as to a claim being made to that person by any person not named in the order may apply to the Commission for direction or clarification.
183(7)The Commission, on the application of a person directly affected by the order or on its own motion, may revoke an order under subsection (1) or permit the release of any funds, securities, exchange contracts or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Commission may, in writing, revoke or modify a notice submitted under subsection (8) and, if a notice is revoked or modified, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181; 2008, c.22, s.53
Interim preservation of property
183(1)If the Commission considers it expedient for the administration of this Act or the regulations or to assist in the administration of the securities laws of another jurisdiction, the Commission may make one or more of the following orders:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities or property of any person to retain those funds, securities or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Commission may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities or property or as to a claim being made to that person by any person not named in the order may apply to the Commission for direction or clarification.
183(7)The Commission, on the application of a person directly affected by the order or on its own motion, may revoke an order under subsection (1) or permit the release of any funds, securities or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Commission may, in writing, revoke or modify a notice submitted under subsection (8) and, if a notice is revoked or modified, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.
2007, c.38, s.181
Interim preservation of property
183(1)If the Commission considers it expedient for the administration of this Act or to assist in the administration of the securities laws of another jurisdiction, the Commission may make one or more of the following orders:
(a) an order directing a person having on deposit or under control or for safekeeping any funds, securities or property of any person to retain those funds, securities or property and to hold them;
(b) an order directing a person to refrain from withdrawing the person’s funds, securities or property from any other person having any of them on deposit or under control or for safekeeping; or
(c) an order directing a person to hold all funds, securities or property of clients or others in the person’s possession or control in trust for any interim receiver, custodian, trustee, receiver, receiver and manager or liquidator appointed under the Business Corporations Act, the Companies Act, the Judicature Act, this Act, the Bankruptcy and Insolvency Act (Canada), the Winding-up and Restructuring Act (Canada) or any other Act of the Legislature or of Canada.
183(2)An order under subsection (1) that names a bank or other financial institution shall apply only to the branches of the bank or other financial institution identified in the order.
183(3)An order under subsection (1) shall not apply to funds, securities or property in a clearing agency or to securities in process of transfer by a transfer agent unless the order so states.
183(4)An order under subsection (1) is effective for 7 days after its making, but the Commission may apply to the Court of Queen’s Bench to continue the order or for such other order as the Court of Queen’s Bench considers appropriate.
183(5)An order under subsection (1) may be made ex parte but, in that event, copies of the order shall be sent without delay by such means as the Commission may determine to all persons named in the order.
183(6)A person in receipt of an order under subsection (1) who is in doubt as to the application of the order to any funds, securities or property or as to a claim being made to that person by any person not named in the order may apply to the Commission for direction or clarification.
183(7)The Commission, on the application of a person directly affected by the order or on its own motion, may revoke an order under subsection (1) or permit the release of any funds, securities or property in respect of which the order was made.
183(8)A notice of an order under subsection (1) may be registered or recorded against the lands or claims identified in the order by submitting the notice to the appropriate registry office established under the Registry Act or to the appropriate land titles office established under the Land Titles Act.
183(9)The Commission may, in writing, revoke or modify a notice submitted under subsection (8) and, if a notice is revoked or modified, the Commission shall submit a copy of the revocation or modification to the appropriate registry office or land titles office.
183(10)On submission of a notice under subsection (8) or a copy of a written revocation or modification under subsection (9), the notice or the copy of the revocation or modification shall be registered or recorded in the registry office or land titles office, as the case may be, by the registrar and has the same effect as the registration or recording of a certificate of pending litigation.