Rules
59(1)Despite any other Act, the Commission may make rules
(a)
prescribing the fees payable to the Commission, including but not limited to, fees for services provided by the Commission or an employee of the Commission or other fees in connection with the administration of financial and consumer services legislation;
(b)
prescribing forms to be used for the purposes of financial and consumer services legislation;
(b.1)
respecting the administration and distribution of amounts disgorged to the Commission under any provision of financial and consumer services legislation;
(c)
prescribing the following in relation to assessments for recovering the costs and expenses of the Commission, a regulator or any other person in connection with the administration of financial and consumer services legislation:
(i)
the amount of an assessment;
(ii)
the method, manner, time and frequency of determining, imposing or paying an assessment;
(iii)
the use of different methods of assessment in relation to different classes of persons; and
(iv)
the interest that an assessment bears or the method of determining that interest;
(d)
determining for the purposes of paragraph 94(5)(a) of the
Insurance Act an amount to be assessed to each licensed insurer;
(e)
Repealed: 2019, c.25, s.313
(f)
Repealed: 2019, c.25, s.313
(g)
prescribing the following in relation to assessments for the purposes of subsection 232.1(2) of the
Loan and Trust Companies Act:
(i)
the amount to be assessed in relation to each licensed company;
(ii)
the method, manner, time and frequency of determining, imposing or paying an assessment; and
(iii)
the use of different methods of assessment with respect to different companies;
(h)
governing conflicts of interest for members of the Commission and employees of the Commission.
59(2)In financial and consumer services legislation, a reference to “regulation” includes a reference to a rule made under subsection (1) unless the context otherwise requires.
59(3)Repealed: 2017, c.48, s.8
59(4)The Lieutenant-Governor in Council may, by order, amend or repeal a rule made by the Commission.
59(5)Subject to the approval of the Minister, the Commission, concurrently with making a rule, may make a regulation that amends or repeals a provision of a regulation made by the Lieutenant-Governor in Council under financial and consumer services legislation or by the Commission under this subsection that in the opinion of the Commission is necessary or advisable to effectively implement the rule.
59(6)A regulation made under subsection (5) is not effective before the rule referred to in that subsection comes into force.
59(7)Subject to subsection (6), a regulation made under subsection (5) may be retroactive in its operation.
59(8)The
Regulations Act does not apply to the rules made under this Act.
59(9)If there is a conflict or an inconsistency between a regulation made by the Lieutenant-Governor in Council under this or any Act and a rule made under this Act, the regulation prevails, but in all other respects a rule has the same effect as a regulation.
2016, c.36, s.6; 2017, c.48, s.8; 2019, c.25, s.313; 2023, c.6, s.1