Ontario Securities Commission – s. 5(4) of the Securities Commission Act

Order

IN THE MATTER OF
THE SECURITIES COMMISSION ACT
RSO 2021, C 8

AND

IN THE MATTER OF
THE DELEGATION OF
CERTAIN POWERS AND DUTIES OF
THE ONTARIO SECURITIES COMMISSION

DELEGATION (subsection 5(4))

WHEREAS:

  1. On proclamation of the Securities Commission Act, 2021 (the “Act”), the Ontario Securities Commission (the “Commission”) will be authorized pursuant to subsection 5(4) of the Act to delegate any of its powers or duties under the Business Corporations Act or the Corporations Act to the Chief Executive Officer of the Commission or to another Director within the meaning of the Securities Act;
  2. the Commission considers it desirable to issue a delegation of certain of its powers and duties to each Director pursuant to subsection 5(4) of the Act;

NOW THEREFORE:

  1. The Commission hereby makes the following delegation (the “Delegation”).
  2. Pursuant to subsection 5(4) of the Act, the Commission delegates to each Director, acting individually, the powers and duties vested in or imposed on the Commission under the Business Corporations Act andthe Corporations Act.
  3. No person or company shall be required to inquire as to the authority of a member of the staff of the Commission to sign a decision pursuant to this Delegation in the capacity of a Director, and a decision purporting to be signed pursuant to this Delegation by a member of the staff of the Commission in the capacity of a Director shall be conclusively deemed to have been signed by a Director authorized by this Delegation without proof of such authority.
  4. This Delegation does not preclude the Commission from itself exercising or performing any of the delegated powers or duties.
  5. This Order is effective on the day that subsection 5(4) of the Act comes into force.

Board Approved: March 15, 2022