127. A firm whose registration has been cancelled or revoked for a given sector must transfer all related records, books and registers to another firm, an independent partnership or an independent representative that is registered for that sector. The firm must inform the Authority in writing beforehand.
The Authority may object to the transfer or make it subject to the conditions it considers appropriate.
With the authorization of the Authority, the firm may, rather than transferring the records, books and registers, dispose of them otherwise.
If the firm refuses or is unable to transfer or dispose of the records, books and registers, the Authority shall take possession and determine the manner of disposing of them.
1998, c. 37, s. 127; 2002, c. 45, s. 499; 2004, c. 37, s. 90; 2009, c. 58, s. 59.