(a) the recommended time has passed away considering that the refusal or revocation; and

(b) new or other proof can be obtained or it really is clear that product circumstances have actually changed. 2008, c. 9, s. 19.

Component III Regulation of Licensees

Disclosure to Registrar

Informative data on company

20 (1) a job candidate for a renewal or licence of the licence this is certainly a company shall reveal towards the Registrar the identity of,

(a) each individual or entity that beneficially has or controls 10 percent or maybe more of this equity shares of this firm given and outstanding at the time of the application; and

(b) people or entities being connected with each other and that together beneficially acquire or get a handle on 10 % or higher for the equity stocks associated with organization granted and outstanding during the time of the application. 2008, c. 9, s. 20 (1).

Determining number of stocks

(2) In determining the full total wide range of equity stocks associated with the company beneficially owned or managed when it comes to purposes of subsection (1), the final number shall be determined because the final amount of all of the stocks beneficially owned or managed, but each share that holds the best to one or more vote will probably be determined given that quantity of stocks equalling the sum total amount 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 this is certainly a firm shall alert the Registrar written down within 1 month following the presssing issue of any equity stocks regarding the company, in the event that problem results in,

(a) anyone or entity, or any people or entities which can be related to one another, acquiring or acquiring ownership that is beneficial control over 10 percent or even more associated with the final number of all of the granted and outstanding equity stocks associated with the company; or

(b) a rise in the portion of granted and equity that is outstanding regarding the company beneficially owned or managed by anyone or entity, or any people or entities which are connected with one another, in the event that individual, entity or the associated people or entities currently beneficially owned or managed 10 percent or higher regarding the final amount of most released and outstanding equity stocks associated with company prior to no credit check installment loans the problem. 2008, c. 9, s. 21 (1).

Transfer of shares

(2) In addition to your disclosure needed under part 20, every licensee this is certainly a organization shall inform the Registrar written down within thirty days after it comes down towards the attention of any of its officers or directors that a transfer of any equity shares of this organization has happened, in the event that transfer creates either associated with the results described in clause (1) (a) or (b). 2008, c. 9, s. 21 (2).

Calculating amount of stocks

(3) In determining the full total wide range of equity stocks associated with company beneficially owned or managed for the true purpose of this area, the number that is total be determined due to the fact total of all stocks beneficially owned or managed, but each share that holds the ability to one or more vote will be determined while the amount of stocks equalling the sum total quantity of votes it holds. 2008, c. 9, s. 21 (3).

Notice of identity of people or entities

(4) The notice needed under subsection (1) or (2) shall recognize the individuals or entities described within the clause that is applicable of (1) or in subsection (2), because the instance can 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 firm or partnership, any improvement in the officers or directors associated with licensee. 2008, c. 9, s. 22 (1).

(2) The Registrar is regarded as to own gotten the notice mentioned in subsection (1),

(a) from the on which the Registrar actually received it, if it was not sent by mail; or day

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