45. The Société may terminate a current designation if(1) the designated management body fails to comply with a provision of this Regulation or of its general by-laws;
(2) the designated management body ceases operations for any reason, including its bankruptcy, its liquidation or the assignment of its property;
(3) the designated management body has filed false or misleading information with the Société or has made false representations; or
(4) more than 50% of the members of the designated management body request termination.
To terminate a designation in progress, the Société sends written notice to the body and to the Minister stating the reason for the termination of designation.
If termination is for a reason provided for in subparagraph 1 of the first paragraph, the body must remedy its failure within the time limit set in the notice, failing which its designation is terminated by operation of law on the expiry of the time limit. If termination is for a reason provided for in subparagraph 2, 3 or 4 of the first paragraph, its designation is terminated by operation of law on the date of receipt of the notice by the body.
The Société must post on its website, as soon as possible, a notice informing producers that the body’s designation has been terminated.
973-2022O.C. 973-2022, s. 45.