Bill C-5
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PART 18 |
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INVESTIGATIONS |
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Investigation
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329. (1) Any interested person may apply,
without notice or on any notice that the court
may require, to a court having jurisdiction in
the place where the cooperative has its
registered office for an order directing an
investigation to be made of the cooperative
and any of its affiliates.
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Grounds
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(2) The court may order an investigation to
be made of the cooperative and any of its
affiliates if, on an application under subsec
tion (1), it appears to the court that the
application is neither frivolous nor vexatious
and that
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No security
for costs
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(3) An applicant under this section is not
required to give security for costs.
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Powers of
court
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330. (1) In connection with an investigation
under this Part, the court may make any order
it thinks fit, including an order
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Copy of
report
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(2) An inspector must send the Director a
copy of every report made by the inspector
under this Part.
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Powers of
inspector
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331. (1) An inspector appointed under this
Part has the powers set out in the order
appointing the inspector.
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Exchange of
information
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(2) In addition to the powers set out in the
order appointing an inspector, the inspector
may provide information to, or exchange
information and otherwise cooperate with,
any public official in Canada or elsewhere
who
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Court order
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(3) An inspector must, on the request of an
interested person, produce a copy of any order
made under subsection 330(1).
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Hearing in
private
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332. (1) Any interested person may apply to
the court for an order that a hearing under this
Part be heard in private and for directions on
any matter arising in the investigation.
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Right to
counsel
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(2) A person whose conduct is being
investigated or who is being examined at a
hearing conducted under this Part has the right
to be represented by counsel.
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Incriminating
statements
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333. No person is excused from attending
and giving evidence and producing docu
ments to an inspector under this Part by reason
only that the evidence tends to incriminate the
person or subject the person to a proceeding or
penalty, but no such evidence may be used or
is receivable against the person in any later
proceeding instituted under an Act of Parlia
ment, other than a prosecution for perjury in
giving the evidence or a prosecution under
section 132 or 136 of the Criminal Code in
respect of the evidence.
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Absolute
privilege -
defamation
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334. Any oral or written statement or report
made by an inspector or other person in an
investigation under this Part has absolute
privilege.
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Membership
shares
included
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335. (1) For the purposes of this section, a
security includes a membership share or an
interest in one.
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Information
respecting
ownership
and control
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(2) If the Director is satisfied that, for the
purposes of Part 9 or 10 or for the purposes of
enforcing any regulation made under section
130, there is reason to inquire into the
ownership or control of a security of a
cooperative or any of its affiliates, the Direc
tor may require any person that the Director
reasonably believes has or has had an interest
in the security or acts or has acted on behalf of
a person with such an interest to report to the
Director or to any designated person,
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Deemed
interest in
securities
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(3) For the purposes of subsection (2), a
person is deemed to hold an interest in a
security if
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Publication
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(4) The Director must publish, in a publica
tion generally available to the public, the
particulars of information obtained under this
section if the particulars
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Solicitor- client privilege
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336. Nothing in this Part may be construed
as affecting the privilege that exists in respect
of lawyers and notaries and their clients.
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Inquiries
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337. The Director may make inquiries of
any person relating to compliance with this
Act.
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PART 19 |
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REMEDIES, OFFENCES AND PUNISHMENT |
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Definitions
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338. The definitions in this section apply in
this Part.
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``action'' « action »
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``action'' means an action taken under this
Act.
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``complainant
'' « plaignant »
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``complainant'' means
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Commence- ment of derivative action
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339. (1) Subject to subsection (2), a com
plainant may apply to the court for leave to
bring an action in the name and on behalf of a
cooperative or any of its subsidiaries, or to
intervene in an action to which the coopera
tive or any of its subsidiaries is a party, for the
purpose of prosecuting, defending or discon
tinuing the action on behalf of the cooperative
or subsidiary.
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Condition
precedent
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(2) No person may bring an action and no
person may intervene in an action brought
under subsection (1) unless the court is
satisfied that
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Powers of
court
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(3) In an action brought or intervened in
under this section, the court may make any
order it considers appropriate, including an
order
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Application to
court re
oppression
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340. (1) A complainant may apply to the
court for an order, including an alternate order,
under this section.
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Grounds
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(2) If the court receives an application
under subsection (1) and is satisfied that an act
or omission of a cooperative effects a result,
that the business or affairs of the cooperative
are or have been carried on or conducted in a
manner, or that the powers of the director are
or have been exercised in a manner, that is
oppressive or unfairly prejudicial to or that
unfairly disregards the interests of a member
or other security holder, creditor, director or
officer of the cooperative, the court may order
the rectification of the matters complained of.
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Types of order
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(3) For the purpose of subsection (2), the
court may make any order that it considers
appropriate, including an order
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