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SNL2005 CHAPTER F-9.1

FINANCIAL SERVICES APPEAL BOARD ACT

Amended:

2012 c38 s10

CHAPTER F-9.1

AN ACT TO ESTABLISH A FINANCIAL SERVICES APPEAL BOARD

(Assented to May 19, 2005 )

Analysis



Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

Short title

        1. This Act may be cited as the Financial Services Appeal Board Act .

2005 cF-9.1 s1

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Definitions

        2. In this Act

             (a)  "appeal", unless the context indicates otherwise, means an appeal of an order or decision made under section 6;

             (b)  "appellant" means a person who files a notice of appeal under subsection 6(1);

             (c)  "board" means the financial services appeal board established under section 3;

             (d)  "member" means a member of the board; and

             (e)  "minister" means the minister assigned responsibility for this Act under the Executive Council Act .

2005 cF-9.1 s2

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Appeal board

        3. (1) The Lieutenant-Governor in Council shall, from among persons recommended by the minister, appoint a financial services appeal board consisting of 5 members.

             (2)  A person appointed under subsection (1) shall be appointed for a term of 3 years and is eligible for reappointment.

             (3)  Notwithstanding subsection (2), a member shall continue to be a member until he or she is replaced.

             (4)  Where a vacancy occurs in the membership of the board, the Lieutenant-Governor in Council shall, from among persons recommended by the minister, appoint a person to replace that member and that person shall be a member for the unexpired term of the person he or she is replacing.

             (5)  A member shall be paid remuneration and reasonable expenses that the Lieutenant-Governor in Council may fix.

             (6)  A decision of the board shall not be void by reason only that there are one or more vacancies in the membership of the board.

             (7)  Notwithstanding subsection (2), at least one half of the members next appointed or reappointed following the commencement of this subsection shall be appointed for a term of 2 years and the remainder for a term of 3 years and all subsequent appointments of members to the board shall be for a term of 3 years.

2005 cF-9.1 s3; 2012 c38 s10

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Chairperson

        4. The Lieutenant-Governor in Council shall, upon the recommendation of the minister, appoint from among the members, one person to act as the chairperson.

2005 cF-9.1 s4

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Powers

        5. (1) The members shall, for the purposes of their duties, have the powers of a commissioner appointed under the Public Inquiries Act .

             (2)  The members shall establish the procedures to be followed in the conduct and hearing of an appeal.

2005 cF-9.1 s5

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Appeal

        6. (1) A person who may, in accordance with another Act of the province, make an appeal of an original order or decision to the board under this Act, may commence that appeal by filing a notice of appeal in the form required by the minister with the person who made the original order or decision within 30 days of receiving notification of that order or decision.

             (2)  The person who receives a notice of appeal under subsection (1) shall forward that notice to the chairperson of the board or to his or her designate, not more than 15 days after receiving that notice of appeal.

             (3)  An order or decision being appealed under this section is not stayed by the filing of that appeal.

             (4)  Upon receipt of a notice of appeal under subsection (1), the chairperson shall assign 3 members, including the chairperson, to consider the appeal.

             (5)  Notwithstanding subsection (4), the chairperson may designate another member to act as chairperson for the purpose of the conduct and hearing of an appeal.

             (6)  The chairperson, or his or designate, may dismiss the appeal with the consent of all parties.

             (7)  A decision of the members assigned to consider an appeal under subsection (4) shall be considered to be a decision of the board.

2005 cF-9.1 s6

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Procedure

        7. The person who made the original order or decision appealed under section 6 shall forward to the chairperson of the board or his or her designate not more than 30 days after receiving the notice of appeal under subsection 6(1)

             (a)  the record of oral evidence, if any, before the person who made the original order or decision;

             (b)  documentary evidence, if any, that was before the person who made the original order or decision;

             (c)  other things received as evidence before the person who made the original order or decision; and

             (d)  the decision and written reasons for it, of the person who made the original order or decision.

2005 cF-9.1 s7

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Consideration of appeal

        8. (1) The members considering an appeal may

             (a)  permit oral submissions;

             (b)  permit the introduction of evidence, oral or otherwise, if satisfied that new evidence has become available or been discovered that

                      (i)  is substantial and material to the decision, and

                     (ii)  did not exist at the time the original order or decision was made or was not discovered or could not reasonably have been discovered at the time that the original order or decision was made;

             (c)  consider evidence related to the appeal, whether or not that evidence would be permissible in court; and

             (d)  proceed with the hearing of an appeal in the absence of the appellant if the appellant has been given at least 10 days notice of that hearing.

             (2)  Members hearing an appeal may

             (a)  confirm the order or decision that is the subject of the appeal;

             (b)  revoke, suspend for a stated period of time or amend the order or decision that is the subject of the appeal; and

             (c)  impose other terms, conditions or actions with respect to the order or decision that is the subject of the appeal that the board considers necessary.

             (3)  A decision of the board shall

             (a)  be in writing; and

             (b)  state the reasons for that decision.

             (4)  The person who made the order or decision that is the subject of an appeal is bound by the decision of the board and shall give effect to the decision and recommendations received from the board.

             (5)  The decision of the board shall be given to the chairperson who shall forward copies to the parties to the appeal.

             (6)  The person who made the original order or decision that is appealed under this Act shall be considered to be a party to the appeal.

2005 cF-9.1 s8

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Commencement of an appeal

        9. An appeal under this Act must commence not more than 90 days after notice, in writing, has been received by the chairperson under subsection 6(2).

2005 cF-9.1 s9

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Notice

      10. (1) A notice required to be given under this Act or the regulations is sufficiently given or served where delivered personally or sent by registered mail addressed to the person to whom delivery or service is to be made at the latest address of that person known to the chairperson.

             (2)  Where a person to whom a notice or other document is to be given or served as described in subsection (1) is a corporate body, that notice or document shall be considered to be sufficiently given or served where

             (a)  delivered personally to a director or chief executive officer of that corporate body; or

             (b)  delivered personally or by registered mail to the registered office of that corporate body in the province.

2005 cF-9.1 s10

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Appeal to Trial Division

      11. (1) A person aggrieved by a decision of the board may appeal that decision to the Trial Division on a question of jurisdiction or law.

             (2)  A decision of the board being appealed under this section is not stayed by the filing of that appeal.

2005 cF-9.1 s11

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Regulations

      12. The Lieutenant-Governor in Council may make regulations

             (a)  respecting the costs that are payable by the parties to an appeal, including the assessment of costs against a party and the time, manner and to whom costs are to be paid; and

             (b)  generally to give effect to the purposes of this Act.

2005 cF-9.1 s12

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Fees and forms

      13. The minister may set fees and prescribe forms for the purpose and administration of this Act.

2005 cF-9.1 s13

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RSNL1990 cI-9 Amdt.

      14. (1) Paragraph 2(g) of the Insurance Adjusters, Agents and Brokers Act is repealed.

             (2)  Subsection 17(3) of the Act is repealed and the following substituted:

             (3)  Where the superintendent refuses to issue a licence or suspends, revokes or amends a licence the person aggrieved by that refusal, suspension, revocation or amendment decision may, in accordance with the Financial Services Appeal Board Act , appeal that decision to the board established under that Act.

             (3)  Section 18 of the Act is repealed.

2005 cF-9.1 s14

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RSNL1990 cM-18 Amdt.

      15. Sections 18 and 19 of the Mortgage Brokers Act are repealed and the following substituted:

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Appeal

      18. A person aggrieved by a decision or order of the registrar may, in accordance with the Financial Services Appeal Board Act , appeal that decision or order to the board established under that Act.

2005 cF-9.1 s15

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RSNL1990 cR-2 Amdt.

      16. (1) Section 12 of the Real Estate Trading Act is repealed.

             (2)  Sections 22 and 23 of the Act are repealed and the following substituted:

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Appeal

      22. A person aggrieved by a decision of the superintendent respecting the issue, suspension, cancellation or reinstatement of a licence may, in accordance with the Financial Services Appeal Board Act , appeal that decision to the board established under that Act.

2005 cF-9.1 s16

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RSNL1990 cS-13 Amdt.

      17. Section 10 of the Securities Act is repealed and the following substituted:

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Appeal

      10. A person or company directly affected by a decision of the superintendent, other than a decision under section 75, may, in accordance with the Financial Services Appeal Board Act , appeal that decision to the board established under that Act.

2005 cF-9.1 s17