C-67.3 - Act respecting financial services cooperatives

Section 601.12 Disposition versions

2018-07-13

601.12. The monetary administrative penalty for a failure to comply with a provision of this Act may not be imposed on the party responsible for the failure to comply after the commencement of penal proceedings against that party for a failure to comply with the same provision on the same day, based on the same facts.

For the purposes of this chapter, “party responsible for a failure to comply” means the person or group on whom or which a monetary administrative penalty is imposed or may be imposed, as the case may be, for a failure to comply referred to in Division I of this chapter.

2018, c. 23, s. 332.