Acts and Regulations

S-5.5 - Securities Act

Full text
Investigations
217(1)On or after the commencement of this section, any examination or investigation commenced under the previous Act by the Administrator or Deputy Administrator whose appointment is revoked under section 213 or by a person to whom the power to make an examination has been delegated by the Administrator under the previous Act that would be dealt with by an investigator, if commenced on or after the commencement of this section, may be dealt with and completed by an investigator in accordance with this Act and the regulations.
217(2)Notwithstanding subsection (1) and sections 213 and 214, the Chair may authorize the Administrator, the Deputy Administrator or a person to whom the power to make an examination has been delegated by the Administrator under the previous Act to deal with and complete any examination or investigation commenced by him or her before the commencement of this section.
217(3)Any examination or investigation dealt with and completed by a person authorized to do so under subsection (2) shall be dealt with and completed in accordance with the law as it existed immediately before the commencement of this section and as if the appointments of the Administrator and Deputy Administrator had not been revoked.
217(4)Any decision, ruling, order, determination or direction of the Administrator, the Deputy Administrator or a person to whom the power to make an examination has been delegated by the Administrator under the previous Act in relation to an examination or investigation dealt with and completed under subsection (2)
(a) shall be deemed to be the decision, ruling, order, determination or direction of the Commission,
(b) may be varied or revoked by the Commission, and
(c) may be enforced in the same manner as a decision made by the Commission pursuant to this Act.
Investigations
217(1)On or after the commencement of this section, any examination or investigation commenced under the previous Act by the Administrator or Deputy Administrator whose appointment is revoked under section 213 or by a person to whom the power to make an examination has been delegated by the Administrator under the previous Act that would be dealt with by an investigator, if commenced on or after the commencement of this section, may be dealt with and completed by an investigator in accordance with this Act and the regulations.
217(2)Notwithstanding subsection (1) and sections 213 and 214, the Chair may authorize the Administrator, the Deputy Administrator or a person to whom the power to make an examination has been delegated by the Administrator under the previous Act to deal with and complete any examination or investigation commenced by him or her before the commencement of this section.
217(3)Any examination or investigation dealt with and completed by a person authorized to do so under subsection (2) shall be dealt with and completed in accordance with the law as it existed immediately before the commencement of this section and as if the appointments of the Administrator and Deputy Administrator had not been revoked.
217(4)Any decision, ruling, order, determination or direction of the Administrator, the Deputy Administrator or a person to whom the power to make an examination has been delegated by the Administrator under the previous Act in relation to an examination or investigation dealt with and completed under subsection (2)
(a) shall be deemed to be the decision, ruling, order, determination or direction of the Commission,
(b) may be varied or revoked by the Commission, and
(c) may be enforced in the same manner as a decision made by the Commission pursuant to this Act.