I-14.01 - Derivatives Act

Section 104 Disposition versions

2009-02-01

104. Before making a decision that adversely affects the rights of a person, the Authority or a delegate of the Authority must give the person 15 days’ prior notice of the proposed decision and of the grounds on which it is based, and give the person an opportunity to make representations or produce documents.

However, the Authority or the delegate may, without prior notice, make a provisional decision, valid for a period of not more than 15 days, if the Authority or the delegate is of the opinion that there is an emergency or that any time given to the person to make representations or produce documents may be prejudicial.

A decision must include reasons and becomes effective as of the time the Authority gives notice of it to the person concerned. The person may, within six days after receiving the notice, make representations to the Authority or the delegate or produce documents.

The Authority or the delegate may revoke a decision made under this section.

2008, c. 24, s. 104.