(b) brand brand new or other proof can be obtained 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 renewal or licence of a licence this is certainly a firm shall reveal to your Registrar the identity of,
(a) each individual or entity that beneficially has or controls 10 percent or higher associated with the equity stocks associated with the firm released and outstanding during the time of the application form; and
(b) individuals or entities which can be related to each other and that together beneficially obtain or get a grip on 10 % or higher of this equity stocks associated with the firm released and outstanding during the time of the application. 2008, c. 9, s. 20 (1).
Calculating amount of stocks
(2) In determining the sum total quantity of equity stocks of this best installment loans organization beneficially owned or managed for the purposes of subsection (1), the final number shall be determined since the final number of all of the stocks beneficially owned or managed, but each share that holds the ability to one or more vote will be determined given that quantity of stocks equalling the sum total wide range of votes carried. 2008, c. 9, s. 20 (2).
Notice of modifications in stocks
21 (1) besides the disclosure needed under part 20, every licensee that is a firm shall inform the Registrar written down within thirty days following the presssing dilemma of any equity stocks associated with the firm, in the event that problem results in,
(a) anyone or entity, or any persons or entities which can be related to one another, acquiring or acquiring useful ownership or control of 10 per cent or higher associated with the final amount of most granted and outstanding equity stocks associated with the firm; or
(b) a rise in the portion of released and equity that is outstanding for the organization beneficially owned or controlled by anybody or entity, or any people or entities which can be connected with one another, in the event that individual, entity or the associated persons or entities currently beneficially owned or managed 10 percent or even more associated with the final number of all of the given and outstanding equity stocks associated with business prior to 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 company shall alert the Registrar written down within thirty day period after it comes down towards the attention of every of the officers or directors that a transfer of any equity stocks of this business has taken place, in the event that transfer creates either for the outcomes described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).
Determining amount of stocks
(3) In determining the full total range equity stocks regarding the business beneficially owned or managed for the true purpose of this part, the number that is total be determined since the total of all of the stocks beneficially owned or managed, but each share that holds the best to several vote will probably be determined whilst 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 required under subsection (1) or (2) shall recognize the individuals or entities described into the relevant clause of subsection (1) or perhaps in subsection (2), since the instance could be. 2008, c. 9, s. 21 (4).
Notice of modifications to Registrar
22 (1) Every licensee shall, within five times following the occasion, notify the Registrar written down of,
(a) any improvement in the licensee’s target for solution; and
(b) when it comes to a company or partnership, any improvement in the officers or directors associated with licensee. 2008, c. 9, s. 22 (1).
(2) The Registrar is regarded as to possess gotten the notice mentioned in subsection (1),
(a) regarding the time by which the Registrar really received it, if it absolutely was maybe not delivered by mail; or
