(b) brand brand brand new or other proof can be obtained or its clear that product circumstances have actually changed. 2008, c. 9, s. 19.
Component III Regulation of Licensees
Disclosure to Registrar
Info on organization
20 (1) a job candidate for a renewal or licence of a licence this is certainly a business shall reveal to your Registrar the identity of,
(a) every person or entity that beneficially has or controls 10 or maybe more of this equity shares for the organization given and outstanding at the time of the application form; and
(b) people or entities which can be related to each other and that together beneficially own or get a grip on 10 per cent or even more associated with the equity shares for the firm given and outstanding at the time of the applying. 2008, c. 9, s. 20 (1).
Calculating amount of stocks
(2) In calculating the full total range equity stocks associated with the firm beneficially owned or controlled when it comes to purposes of subsection (1), the final number shall be determined whilst the final number of most stocks beneficially owned or managed, but each share that holds the best to several vote will probably be determined due to the fact amount of shares equalling the full total wide range of votes carried. 2008, c. 9, s. 20 (2).
Notice of modifications in stocks
21 (1) aside from the disclosure needed under part 20, every licensee that is a company shall alert the Registrar written down within 1 month following the dilemma of any equity stocks associated with the business, in the event that problem results in,
(a) anyone or entity, or any individuals or entities which can be connected with one another, acquiring or gathering useful ownership or control of 10 percent or even more regarding the final amount of all of the granted and outstanding equity stocks regarding the organization; or
(b) a rise in the portion of released and equity that is outstanding associated with firm beneficially owned or controlled by anyone or entity, or any people or entities which are related to one another, in the event that individual, entity or even the associated people or entities currently beneficially owned or managed 10 percent or higher of this final amount of all of the granted and outstanding equity stocks associated with firm ahead of the issue. 2008, c. 9, s. 21 (1).
Transfer of shares
(2) In addition to your disclosure needed under area 20, every licensee this is certainly an organization shall alert the Registrar written down within 1 month after it comes down to your attention of any of their officers or directors that a transfer of every equity stocks for the company has taken place, in the event that transfer produces either for the outcomes described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).
Calculating amount of stocks
(3) In calculating the sum total amount of equity stocks for the firm beneficially owned or managed for the intended purpose of this section, the final number shall be determined given that total of all of the stocks beneficially owned or managed, but each share that holds the ability to several vote will be determined because the amount of stocks equalling the full total quantity of votes it carries. 2008, c. 9, s loans with installment payments. 21 (3).
Notice of identity of individuals or entities
(4) The notice needed under subsection (1) or (2) shall recognize the individuals or entities described within the relevant clause of subsection (1) or perhaps in subsection (2), once the instance might be. 2008, c. 9, s. 21 (4).
Notice of modifications to Registrar
22 (1) Every licensee shall, within five times following the occasion, notify the Registrar written down of,
(a) any improvement in the licensee’s target for solution; and
(b) when it comes to a business or partnership, any improvement in the officers or directors of this licensee. 2008, c. 9, s. 22 (1).
(2) The Registrar is regarded as to have gotten the notice mentioned in subsection (1),
(a) regarding the time on which the Registrar really received it, if it absolutely was perhaps not delivered by mail; or