8. A certificate of competence shall be issued if the applicant provides the Commission with
(1) a certificate of civil liability insurance for the amount determined by regulation providing coverage for any damage caused in the course of railway activities;
(2) an undertaking of the insurer to notify the Commission in case of cancellation, non-renewal or reduction of coverage;
(3) the information and documents prescribed by regulation.
The applicant may be exempted by the Commission from holding insurance if he produces proof of solvency in accordance with the regulatory requirements.
Where the carrier is to use all or part of a railway abandoned one year or more ago, with reference to the date indicated, as the case may be, in an abandonment order under the National Transportation Act, 1987 (Revised Statutes of Canada, 1985, chapter 28, 3rd Supplement) or in a notice of abandonment under section 48 of the Act to ensure safety in guided land transport (chapter S-3.3), he must produce a declaration under oath of an engineer who has inspected the railway, stating that the railway may be used safely without the need to carry out the construction work referred to in the Act to ensure safety in guided land transport.
The applicant must, in addition, pay the fees for the issue of the certificate prescribed by regulation.