Immunity regarding New Brunswick authority
2007, c.38, s.190
195.6(1)The following definitions apply in this section.
“Commission” includes the Executive Director, a member of the Commission and an officer, employee or agent of the Commission.(Commission)
“securities regulatory authority” means
(organisme de réglementation des valeurs mobilières)
(a)
an extra-provincial securities commission referred to in subsection (3) and includes any member, officer, employee, appointee or agent of that commission,
(b)
any person referred to in paragraph (3)(
b), or
(c)
any exchange, self-regulatory organization, quotation and trade reporting system, derivatives trading facility or auditor oversight body referred to in paragraph (3)(
c).
195.6(2)No action or other proceeding may be brought against the Commission, the members of the Tribunal or a securities regulatory authority for anything done or not done, or for any neglect,
(a)
in the performance or exercise, or the intended performance or exercise, in good faith of a New Brunswick authority, or
(b)
in delegating or transferring in good faith a New Brunswick authority or in accepting in good faith the delegation or transfer of a New Brunswick authority, as the case may be.
195.6(3)This section applies only with respect to a New Brunswick authority
(a)
that has been delegated or transferred by the Commission or the Tribunal to an extra-provincial securities commission,
(i)
has been subdelegated by an extra-provincial securities commission to a person other than an exchange, a derivatives trading facility, a self-regulatory organization, a quotation and trade reporting system or an auditor oversight body, and
(ii)
is, or is intended to be, exercised by the person, or by the person’s subdelegate other than an exchange, a derivatives trading facility, a self-regulatory organization, a quotation and trade reporting system or an auditor oversight body, or
(i)
has been subdelegated by an extra-provincial securities commission to an exchange, a derivatives trading facility, a self-regulatory organization, a quotation and trade reporting system or an auditor oversight body that is recognized or authorized by the extra-provincial securities commission to carry on business, and
(ii)
is, or is intended to be, exercised by the exchange, derivatives trading facility, self-regulatory organization, quotation and trade reporting system or auditor oversight body.
2007, c.38, s.190; 2011, c.43, s.38; 2013, c.31, s.36; 2013, c.43, s.45