(a) the recommended time has passed away considering that the refusal or revocation; and
(b) brand brand new or other proof can be acquired or it’s clear that product circumstances have actually changed. 2008, c. 9, s. 19.
Component III Regulation of Licensees
Disclosure to Registrar
Informative data on business
20 (1) a job candidate for a licence or renewal of the licence that is a company shall reveal to your Registrar the identity of,
(a) every person or entity that beneficially has or controls 10 percent or higher associated with equity stocks for the personal loans with installment payments firm released and outstanding at the time of the application; and
(b) individuals or entities which can be related to each other and that together beneficially have or get a grip on 10 percent or even more regarding the equity stocks of this organization released and outstanding during the time of the program. 2008, c. 9, s. 20 (1).
Determining amount of stocks
(2) In determining the sum total range equity stocks regarding the company beneficially owned or managed for the purposes of subsection (1), the final number shall be calculated while the final number of all of the stocks beneficially owned or controlled, but each share that holds the ability to one or more vote will be determined once the amount of stocks equalling the sum total amount of votes carried. 2008, c. 9, s. 20 (2).
Notice of modifications in stocks
21 (1) In addition to the disclosure needed under part 20, every licensee this is certainly a firm shall inform the Registrar written down within 1 month following the dilemma of any equity stocks associated with the organization, in the event that problem results in,
(a) anyone or entity, or any people or entities which are connected with each other, acquiring or acquiring ownership that is beneficial control of 10 percent or maybe more regarding the final amount of most released and outstanding equity stocks associated with the business; or
(b) an increase in the portion of given and equity that is outstanding for the business beneficially owned or managed by anyone or entity, or any individuals or entities which can be related to one another, in the event that individual, entity or perhaps the associated people or entities currently beneficially owned or managed 10 percent or higher associated with the final amount of most released and outstanding equity stocks for the business ahead of the problem. 2008, c. 9, s. 21 (1).
Transfer of shares
(2) In addition to your disclosure needed under area 20, every licensee that is a business shall alert the Registrar written down within 1 month after it comes down towards the attention of every of the officers or directors that the transfer of every equity stocks regarding the organization has happened, in the event that transfer produces either for the outcomes described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).
Determining amount of shares
(3) In determining the sum total range equity stocks for the company beneficially owned or managed for the true purpose of this area, the number that is total be determined while the total of all of the stocks beneficially owned or managed, but each share that holds the proper to one or more vote will be calculated since the quantity of stocks equalling the full total amount of votes it holds. 2008, c. 9, s. 21 (3).
Notice of identity of individuals or entities
(4) The notice needed under subsection (1) or (2) shall recognize the individuals or entities described when you look at the relevant clause of subsection (1) or in subsection (2), because the case can be. 2008, c. 9, s. 21 (4).
Notice of changes to Registrar
22 (1) Every licensee shall, within five times after the occasion, notify the Registrar written down of,
(a) any improvement in the licensee’s target for solution; and
(b) when it comes to an organization or partnership, any improvement in the officers or directors associated with the licensee. 2008, c. 9, s. 22 (1).
(2) The Registrar is viewed as to possess gotten the notice mentioned in subsection (1),
(a) in the time by which the Registrar actually received it, if it had been perhaps not delivered by mail; or