Entire section Custom print Link Text Only Rich Text Print
  Versions

 

C4-5.2.2

Except in instances where the CBB has initiated the following actions, category 4 investment firms must notify the CBB immediately of any of the following events:

(a) The calling of a meeting to consider a resolution for winding up the licensee, a controller or a parent undertaking of the licensee;
(b) An application to dissolve a controller or a parent undertaking of the licensee;
(c) The presentation of a petition for the winding up of a controller or a parent undertaking of the licensee;
(d) The making of any proposals, or the making of, a composition or arrangement with any one or more of the licensee’s creditors, for material amounts of debt;
(e) An application for the appointment of an administrator or trustee in bankruptcy to a controller or a parent undertaking of the licensee;
(f) The appointment of a receiver to a controller or a parent undertaking of the investment firm licensee (whether an administrative receiver or a receiver appointed over particular property); or
(g) An application for an interim order against the licensee, a controller or a parent undertaking of the licensee under the Reorganization and Bankruptcy Law or similar legislation in another jurisdiction.

 

Added: January 2022