E-20.01 - Act respecting Nasdaq stock exchange activities in Québec

Updated to 13 July 2018

This document has official status.

chapter E-20.01

Act respecting Nasdaq stock exchange activities in Québec

The Minister of Finance is responsible for the administration of this Act. Order in Council 821-2019 dated 14 August 2019, (2019) 151 G.O. 2 (French), 3788.

1. The Nasdaq Stock Market, Inc., a company legally incorporated in the United States of America, is recognized as a self-regulatory organization within the meaning of section 169 of the Securities Act (chapter V‐1.1) to carry on business in Québec.

The provisions of the Securities Act relating to self-regulatory organizations do not apply to The Nasdaq Stock Market, Inc.

The provisions of the Securities Act and the regulations thereunder that do not apply to dealers and dealer’s representatives who transact with The Nasdaq Stock Market, Inc. shall be determined by the Government.

2000, c. 28, s. 1.

Not in force

2. Nasdaq Canada Inc., a company legally incorporated under the Canada Business Corporations Act (Revised Statutes of Canada, 1985, chapter C-44), is recognized as a self-regulatory organization within the meaning of the second paragraph of section 170 of the Securities Act (chapter V-1.1) and is authorized to carry on its securities trading and clearing activities in Québec within the meaning of section 169 of the Securities Act (chapter V-1.1).

2000, c. 28, s. 2; 2002, c. 45, s. 503.

Not in force

3. Recognition is granted under section 2 subject to the condition that the constituting documents, by-laws and operating rules of Nasdaq Canada Inc. conform with those of The Nasdaq Stock Market, Inc., with the modifications and amendments considered necessary by the Government.

2000, c. 28, s. 3.

Not in force

4. The Government shall determine the date from which Nasdaq Canada Inc. may pursue its activities.

2000, c. 28, s. 4.

Not in force

5. The Government may, on the conditions it determines, delegate to Nasdaq Canada Inc. the application of all or part of Title V of the Securities Act (chapter V‐1.1) and the regulations thereunder.

The Government may, similarly, delegate to Nasdaq Canada Inc. the powers provided for in sections 237 and 238 of the said Act, and the application of the regulatory provisions made under paragraph 32 of section 331.1 of the said Act.

The provisions of the Securities Act and the regulations thereunder that do not apply to dealers and dealer’s representatives who transact with Nasdaq Canada Inc. shall be determined by the Government.

2000, c. 28, s. 5; 2002, c. 45, s. 504.

Not in force

6. Nasdaq Canada Inc. may, with the prior approval of the Government, delegate some or all of its powers and of the powers delegated to it under section 5 to an organization recognized for that purpose by the Autorité des marchés financiers in accordance with the procedure for recognizing a self-regulatory organization provided in the Act respecting the regulation of the financial sector (chapter E-6.1) or, where applicable, to an organization recognized for that purpose by the Government.

2000, c. 28, s. 6; 2002, c. 45, s. 505; 2004, c. 37, s. 90; 2018, c. 23, s. 811.

Not in force

7. The Government shall exercise the supervisory powers of the Autorité des marchés financiers under sections 74 to 80 of the Act respecting the regulation of the financial sector (chapter E-6.1) with regard to Nasdaq Canada Inc. and with regard to any organization exercising powers delegated under section 6 of this Act, until the date determined by the Government, which shall not be later than six months after the date determined under section 4, unless the Authority requests an extension so that this Act may be carried out in full.

During the period referred to in the first paragraph, the Authority shall, at the request of the Minister of Finance and on behalf of the Government, exercise the power to make inspections under sections 73 and following of the Act respecting the regulation of the financial sector. The Authority shall report inspection results to the Minister without delay.

2000, c. 28, s. 7; 2002, c. 45, s. 506; 2004, c. 37, s. 90; 2018, c. 23, s. 811.

Not in force

8. From the end of the period referred to in the first paragraph of section 7, the Autorité des marchés financiers shall have full jurisdiction over the activities of Nasdaq Canada Inc. as a stock exchange and self-regulatory organization, over the exercise of powers delegated under section 5 and over the activities of any organization exercising powers delegated under section 6, in accordance with the provisions of the Securities Act (chapter V‐1.1) and of the Act respecting the regulation of the financial sector (chapter E-6.1).

2000, c. 28, s. 8; 2002, c. 45, s. 507; 2004, c. 37, s. 90; 2018, c. 23, s. 811.

9. The Government may, by regulation, make any provision to ensure the carrying out of this Act.

A regulation made under this section is not subject to the provisions of the Regulations Act (chapter R‐18.1).

2000, c. 28, s. 9.

10. (Omitted).

2000, c. 28, s. 10.

REPEAL SCHEDULE

In accordance with section 9 of the Act respecting the consolidation of the statutes and regulations (chapter R‐3), chapter 28 of the statutes of 2000, in force on 1 April 2001, is repealed, except section 10, effective from the coming into force of chapter E-20.01 of the Revised Statutes.