Registration eligibility for related registrars: separate certificates allowed if entities maintain independent boards, controls, personnel and arm's length operations. Registration for registrars and share transfer agents within the same group may be granted provided each entity has separate legal incorporation, independent boards (no majority common directors), absolute arm's length operations, independent key personnel and infrastructure, and independent regulatory controls and supervisory mechanisms. Suspension or cancellation of one entity's registration can lead to action against other group entities. 'Same group' is defined by common control (alone or with relatives), being under the same management, or where one entity controls another, with control as defined in the Regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration eligibility for related registrars: separate certificates allowed if entities maintain independent boards, controls, personnel and arm's length operations.
Registration for registrars and share transfer agents within the same group may be granted provided each entity has separate legal incorporation, independent boards (no majority common directors), absolute arm's length operations, independent key personnel and infrastructure, and independent regulatory controls and supervisory mechanisms. Suspension or cancellation of one entity's registration can lead to action against other group entities. "Same group" is defined by common control (alone or with relatives), being under the same management, or where one entity controls another, with control as defined in the Regulations.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
