Immunity regarding extra-provincial authority
2007, c.38, s.190
195.7(1)The following definitions apply in this section.
“Commission” includes the Executive Director, any member of the Commission and any officer, employee or agent of the Commission.(Commission)
“securities regulatory authority” means
(organisme de réglementation des valeurs mobilières)
(a)
any person referred to in paragraph (3)(
b), or
(b)
any exchange, derivatives trading facility, self-regulatory organization, quotation and trade reporting system or auditor oversight body referred to in paragraph (3)(
c).
195.7(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 any extra-provincial authority, or
(b)
in delegating or transferring in good faith an extra-provincial authority or in accepting in good faith the delegation or transfer of an extra-provincial authority, as the case may be.
195.7(3)This section applies only with respect to an extra-provincial authority
(a)
that has been delegated or transferred by an extra-provincial securities commission to the Commission or the Tribunal,
(i)
has been subdelegated to a person by the Commission other than to 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 the 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 under section 35, 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.39; 2013, c.31, s.36; 2013, c.43, s.46