Acts and Regulations

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

Section 71
Disposition versions

Full text
Bond or other security
71(1)A bond or other security provided under financial and consumer services legislation that immediately before the commencement of this section is valid and in full force and effect and payable to the Minister, the Crown in right of the Province or the Lieutenant-Governor in Council
(a) shall continue to be valid and of full force and effect and be deemed to be payable to the Commission, and
(b) may be forfeited or otherwise dealt with in accordance with financial and consumer services legislation.
71(2)If a bond referred to in subsection (1) is secured by collateral security on deposit with the Minister, the collateral security shall be transferred to the Commission on the commencement of this section.
Bond or other security
71(1)A bond or other security provided under financial and consumer services legislation that immediately before the commencement of this section is valid and in full force and effect and payable to the Minister, the Crown in right of the Province or the Lieutenant-Governor in Council
(a) shall continue to be valid and of full force and effect and be deemed to be payable to the Commission, and
(b) may be forfeited or otherwise dealt with in accordance with financial and consumer services legislation.
71(2)If a bond referred to in subsection (1) is secured by collateral security on deposit with the Minister, the collateral security shall be transferred to the Commission on the commencement of this section.