Designation
2011, c.43, s.18
44.1(1)On the application of a credit rating organization or on its own motion, the Commission may, subject to such terms and conditions as it considers appropriate, designate the credit rating organization if the Commission is of the opinion that it is in the public interest to do so.
44.1(2)The Commission may, if in the opinion of the Commission it is in the public interest to do so,
(a)
suspend or cancel the designation of a credit rating organization,
(b)
remove, vary or replace any terms or conditions to which the designation is subject, or
(c)
add terms and conditions to the designation.
44.1(3)The Commission shall not, without giving the credit rating organization an opportunity to be heard,
(a)
refuse to designate the credit rating organization,
(b)
suspend or cancel its designation,
(c)
remove, vary or replace the terms and conditions to which the designation is subject,
(d)
add terms and conditions to the designation, or
(e)
designate the credit rating organization on the Commission’s own motion.
2011, c.43, s.18; 2019, c.32, s.7; 2019, c.32, s.8