Compensation for financial losses
2007, c.38, s.184
188.1(0.1)In this section, “financial loss” does not include loss of profits or any other indirect loss.
188.1(1)On the application of a claimant, the Executive Director may, when the Tribunal holds a hearing about a person, request it to make an order that the person pay the claimant compensation for financial loss.
188.1(2)Notwithstanding subsection 193(1), the Executive Director’s decision whether to make a request to the Tribunal is not reviewable by the Tribunal.
188.1(3)When requested to by the Executive Director, the Tribunal may order the person to pay the claimant compensation of not more than $100,000 for the claimant’s financial loss, if, after the hearing, the Tribunal
(a)
determines that the person has contravened or failed to comply with any of the following:
(i)
a provision of this Act that is listed in Schedule A or a provision of the regulations;
(ii)
a decision of the Commission, the Tribunal or the Executive Director;
(iii)
a written undertaking made by the person to the Commission, the Tribunal or the Executive Director; or
(iv)
a term or condition imposed on the person’s registration;
(b)
is able to determine the amount of the financial loss on the evidence; and
(c)
finds that the person’s contravention or failure caused the financial loss in whole or in part.
188.1(4)If the contravention or failure occurs in the course of the person’s employment by another person, or while the person is acting on behalf of the other in any other capacity, the Tribunal may order the other person to jointly and severally pay the claimant the financial compensation ordered under subsection (3).
188.1(5)For the purposes of subsection (4), a person is employed by another person when
(a)
an employer-employee relationship exists, or
(b)
the first person is registered under this Act or the regulations in an employee, agent or representative capacity through the second person.
188.1(6)The Tribunal may make an order under subsection (3) despite the imposition of any other penalty on the person or the making of any other order by the Tribunal or Commission related to the same matter.
188.1(7)The Tribunal shall not make an order under subsection (3) if the claimant has commenced a civil court proceeding for compensation for the same financial loss.
188.1(8)A claimant shall inform the Tribunal without delay after commencing a civil court proceeding for the same financial loss.
188.1(9)Once the Tribunal opens a hearing where a claim for compensation for financial loss is one of the matters before it, the claimant is not entitled to commence a civil court proceeding for compensation for the same financial loss or any unclaimed financial loss arising out of the same transaction.
188.1(10)Notwithstanding subsection (9), a claimant in whose favour the Tribunal makes an order under subsection (3) may at any time file a certified copy of the order with the clerk of the Court of King’s Bench, and on being filed with the clerk of the Court of King’s Bench that order has the same force and effect as if it were a judgment of the Court of King’s Bench in favour of the claimant and against the person the Tribunal ordered to pay the compensation.
2007, c.38, s.184; 2011, c.43, s.35; 2013, c.31, s.36; 2023, c.17, s.253