I-14.01 - Derivatives Act

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127.1. If the Tribunal issues an order under paragraph 7 of section 127, the Tribunal must, if the proof justifying the order shows that persons have sustained a loss in the course of the non-compliance referred to in that paragraph 7, order the Authority to submit to the Tribunal the terms under which the amounts disgorged to the Authority will be administered and may be distributed to the persons who have sustained a loss, unless it is shown to the Tribunal that the amounts so disgorged are less than those to be incurred for their distribution.
The terms must provide the following at a minimum:
(1)  the rules according to which the amounts will be deposited with a deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) or a bank or otherwise invested until the distribution ends;
(2)  the conditions to meet to be entitled to participate in the distribution of the amounts disgorged, including the time limit after which a person may not participate;
(3)  the means that must be taken to notify the persons concerned of the possibility of participating in the distribution of the amounts; and
(4)  the date on which the distribution is to end should the amounts disgorged not be distributed in their entirety.
2018, c. 232018, c. 23, s. 674.
127.1. If the Tribunal issues an order under paragraph 7 of section 127, the Tribunal must, if the proof justifying the order shows that persons have sustained a loss in the course of the non-compliance referred to in that paragraph 7, order the Authority to submit to the Tribunal the terms under which the amounts disgorged to the Authority will be administered and may be distributed to the persons who have sustained a loss, unless it is shown to the Tribunal that the amounts so disgorged are less than those to be incurred for their distribution.
The terms must provide the following at a minimum:
(1)  the rules according to which the amounts will be deposited with a deposit institution authorized under the Deposit Institutions and Deposit Protection Act (chapter A-26) or a bank or otherwise invested until the distribution ends;
(2)  the conditions to meet to be entitled to participate in the distribution of the amounts disgorged, including the time limit after which a person may not participate;
(3)  the means that must be taken to notify the persons concerned of the possibility of participating in the distribution of the amounts; and
(4)  the date on which the distribution is to end should the amounts disgorged not be distributed in their entirety.
2018, c. 232018, c. 23, s. 674.
See special transitional provisions, S.Q. 2018, c. 23, s. 681.