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S-29.01 - Act respecting trust companies and savings companies

Section 315
Disposition versions

Full text
315. Where, in the opinion of the Authority, a company or other person contemplated in section 107 does not adhere to sound and prudent management practices or is not complying with this Act, the regulations of the Government thereunder, a voluntary compliance program or an undertaking given under this Act, the Authority may order the company or person to cease such practices and to remedy the situation.
The Authority shall, as prescribed by section 5 of the Act respecting administrative justice (chapter J‐3), notify the company or person contemplated in section 107 at least 15 days in advance, indicating the reasons in support of the order, the date on which the order takes effect and the right of interested persons to present observations.
1987, c. 95, s. 315; 1997, c. 43, s. 772; 2002, c. 45, s. 606; 2004, c. 37, s. 90.
315. Where, in the opinion of the Agency, a company or other person contemplated in section 107 does not adhere to sound and prudent management practices or is not complying with this Act, the regulations of the Government thereunder, a voluntary compliance program or an undertaking given under this Act, the Agency may order the company or person to cease such practices and to remedy the situation.
The Agency shall, as prescribed by section 5 of the Act respecting administrative justice (chapter J-3), notify the company or person contemplated in section 107 at least 15 days in advance, indicating the reasons in support of the order, the date on which the order takes effect and the right of interested persons to present observations.
1987, c. 95, s. 315; 1997, c. 43, s. 772; 2002, c. 45, s. 606.
315. Where, in the opinion of the Inspector General, a company or other person contemplated in section 107 does not adhere to sound financial practices or is not complying with this Act, the regulations of the Government thereunder, a voluntary compliance program or an undertaking given under this Act, the Inspector General may order the company or person to cease such practices and to remedy the situation.
The Inspector General shall, as prescribed by section 5 of the Act respecting administrative justice (chapter J-3), notify the company or person contemplated in section 107 at least 15 days in advance, indicating the reasons in support of the order, the date on which the order takes effect and the right of interested persons to present observations.
1987, c. 95, s. 315; 1997, c. 43, s. 772.
315. Where, in the opinion of the Inspector General, a company or other person contemplated in section 107 does not adhere to sound financial practices or is not complying with this Act, the regulations of the Government thereunder, a voluntary compliance program or an undertaking given under this Act, the Inspector General may order the company or person to cease such practices and to remedy the situation.
The Inspector General shall give the company or person contemplated in section 107 at least 15 days’ notice indicating the reasons in support of the order, the date on which the order takes effect and the right of interested persons to be heard.
1987, c. 95, s. 315.
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