Acts and Regulations

2013, c.30 - Financial and Consumer Services Commission Act

Section 56
Disposition versions

Full text
Memorandum of understanding
56(1)No agreement, memorandum of understanding or arrangement entered into by the Commission shall come into effect without the approval of the Minister.
56(2)If the Minister approves an agreement, memorandum of understanding or arrangement referred to in subsection (1), it comes into effect on the date specified in the agreement, memorandum of understanding or arrangement and, if no date is specified, on the date that the Minister approves it.
56(3)This section does not apply to the following documents:
(a) an agreement, memorandum of understanding or arrangement relating to the following matters:
(i) the administration and management of the Commission’s business and affairs;
(ii) the harmonization of the regulation of financial and consumer services; or
(iii) interjurisdictional cooperation between the Commission and any other regulatory authority;
(b) an agreement, memorandum of understanding or arrangement entered into under section 204 of the Securities Act;
(c) an agreement entered into under section 86 of the Mortgage Brokers Act; or
(d) an agreement entered into under section 24 of the Unclaimed Property Act.
2014, c.41, s.93; 2020, c.5, s.60
Memorandum of understanding
56(1)No agreement, memorandum of understanding or arrangement entered into by the Commission shall come into effect without the approval of the Minister.
56(2)If the Minister approves an agreement, memorandum of understanding or arrangement referred to in subsection (1), it comes into effect on the date specified in the agreement, memorandum of understanding or arrangement and, if no date is specified, on the date that the Minister approves it.
56(3)This section does not apply to the following documents:
(a) an agreement, memorandum of understanding or arrangement relating to the following matters:
(i) the administration and management of the Commission’s business and affairs;
(ii) the harmonization of the regulation of financial and consumer services; or
(iii) interjurisdictional cooperation between the Commission and any other regulatory authority;
(b) an agreement, memorandum of understanding or arrangement entered into under section 204 of the Securities Act; or
(c) an agreement entered into under section 86 of the Mortgage Brokers Act.
2014, c.41, s.93
Memorandum of understanding
56(1)No agreement, memorandum of understanding or arrangement entered into by the Commission shall come into effect without the approval of the Minister.
56(2)If the Minister approves an agreement, memorandum of understanding or arrangement referred to in subsection (1), it comes into effect on the date specified in the agreement, memorandum of understanding or arrangement and, if no date is specified, on the date that the Minister approves it.
56(3)This section does not apply to the following documents:
(a) an agreement, memorandum of understanding or arrangement relating to the following matters:
(i) the administration and management of the Commission’s business and affairs;
(ii) the harmonization of the regulation of financial and consumer services; or
(iii) interjurisdictional cooperation between the Commission and any other regulatory authority; or
(b) an agreement, memorandum of understanding or arrangement entered into under section 204 of the Securities Act.
Memorandum of understanding
56(1)No agreement, memorandum of understanding or arrangement entered into by the Commission shall come into effect without the approval of the Minister.
56(2)If the Minister approves an agreement, memorandum of understanding or arrangement referred to in subsection (1), it comes into effect on the date specified in the agreement, memorandum of understanding or arrangement and, if no date is specified, on the date that the Minister approves it.
56(3)This section does not apply to the following documents:
(a) an agreement, memorandum of understanding or arrangement relating to the following matters:
(i) the administration and management of the Commission’s business and affairs;
(ii) the harmonization of the regulation of financial and consumer services; or
(iii) interjurisdictional cooperation between the Commission and any other regulatory authority; or
(b) an agreement, memorandum of understanding or arrangement entered into under section 204 of the Securities Act.