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I-14.01 - Derivatives Act
Section 120
Disposition versions
120. A freeze order is effective from the time the person concerned is notified of it and, unless otherwise provided, remains binding for a 12-month period; it may be revoked or otherwise amended during that period.
The person must be given at least 15 days’ notice of the hearing during which the Tribunal is to consider extending the order. The Tribunal may grant the extension if the person does not wish to be heard or fails to establish, to the satisfaction of the Tribunal, that the grounds on which the order was initially based have ceased to exist.
120. A freeze order is effective from the time the person concerned is notified of it, for a renewable period of 120 days.
The person must be given at least 15 days’ notice of the hearing during which the Tribunal is to consider extending the order. The Tribunal may grant the extension if the person does not wish to be heard or fails to establish, to the satisfaction of the Tribunal, that the grounds on which the order was initially based have ceased to exist.
120. A freeze order is effective from the time the person concerned is notified of it, for a renewable period of 120 days.
The person must be given at least 15 days’ notice of the hearing during which the Board is to consider extending the order. The Board may grant the extension if the person does not wish to be heard or fails to establish, to the satisfaction of the Board, that the grounds on which the order was initially based have ceased to exist.
