5. In order to obtain a brokerage permit, a legal person shall (1) within 10 days of the expiry of the subscription period, (a) file with the Commission
i. the application and the information that will establish its representativeness, using the appropriate forms;
ii. the originals of all brokerage contracts, upon request by the Commission;
iii. the contract for the hiring of the brokerage director;
(b) pay costs of $304 to the Commission;
(2) within 40 days of the expiry of the subscription period,
(a) file with the Commission its revenue and expenditure forecasts;
(b) submit to the Commission for approval the by-laws referred to in section 8 of the Transport Act (chapter T-12), particularly those respecting disciplinary provisions, a description of the brokerage director’s duties and brokerage fees;
(c) show the Commission that the requirements of section 47.13.1 of the Transport Act were complied with, in particular by filing
i. a copy of the notice of a special meeting accompanied by the by-laws that were submitted for approval at the meeting;
ii. a list of the subscribers to the brokerage services of that legal person on the date on which the special meeting is held;
iii. a list of the members present at the special meeting;
iv. the result of votes taken at that meeting.
(3) (paragraph revoked).
The by-laws referred to in subparagraph b of subparagraph 2 of the first paragraph may not provide mediation and arbitration procedures.
In the case of an application for renewal, the legal person shall also, before 31 March, send the Commission its audited financial statements for the 3 preceding fiscal years ending on 31 December; those financial statements shall mention the auditing of the trust accounts and the compliance of the permit holder’s books, registers and accounts with this Regulation.
O.C. 1483-99, s. 5; O.C. 1402-2000, s. 3; O.C. 1110-2010, s. 2; O.C. 1279-2011, s. 2.