Acts and Regulations

S-5.5 - Securities Act

Full text
Referral to Commission
194(1)The Executive Director may refer a question to the Commission for determination if the Executive Director is of the opinion that a material question affecting the public interest or a novel question of interpretation is raised because of
(a) an application made to the Executive Director,
(b) information or material filed with the Executive Director, or
(c) a matter arising out of the exercise or performance by the Executive Director of his or her powers or duties under this Act or the regulations.
194(2)Where the Executive Director refers a question to the Commission under subsection (1), the Executive Director shall
(a) state the question in writing, setting out the facts on which it is based, and
(b) file with the Commission the question together with additional information or material that the Executive Director considers relevant.
194(3)The Commission shall consider and determine the question and refer the matter to the Executive Director for final consideration.
194(4)Subject to any order of the Court of Appeal made under section 195, the decision of the Commission on the question is final and binding on the Executive Director.