This regulation defines “transition date” and says unfinished hearings started before that date must be continued and decided by the same Tribunal members. It also says certain pre-transition orders under the Securities Act and Commodity Futures Act continue to be governed by specified sections, with one consent-based exception for some Commodity Futures Act orders.
Transition date 1. In this Regulation, “transition date” means the day on which section 25 of the Act comes into force. Hearings in progress 2. A hearing that was commenced under the Securities Act or the Commodity Futures Act before the transition date but that was not completed as of that date shall be continued and disposed of by a panel of the Tribunal consisting of the same individuals who participated in the hearing before the transition date. Orders under the Securities Act 3. (1) Section 144.1 of the Securities Act applies with respect to an order described in subsection (2) that was made before the transition date and that was in effect immediately before that date. (2) The orders mentioned in subsection (1) are the following: 1. Orders made under section 127 of the Securities Act, except for orders made by a Director within the meaning of subsection 1 (1) of that Act pursuant to an assignment order made by the Commission under section 6 of that Act. 2. Orders made under subsection 8 (3), 17 (1), 104 (1) or 127.1 (1), (2) or (3) of the Securities Act. 3. Orders made under section 144 of the Securities Act to vary an order described in paragraph 1 or 2. Orders under the Commodity Futures Act 4. (1) Section 78.1 of the Commodity Futures Act applies with respect to an order described in subsection (2) that was made before the transition date and that was in effect immediately before that date. (2) The orders mentioned in subsection (1) are the following: 1. Orders made under section 60 of the Commodity Futures Act, subject to subsection (3). 2. Orders made under subsection 4 (3), 13 (1) or 60.1 (1), (2) or (3) of the Commodity Futures Act. 3. Orders made under section 78 of the Commodity Futures Act to vary an order described in paragraph 1 or 2. (3) Subsection (1) does not apply to an order described in paragraph 1, 2 or 2.1 of subsection 60 (1) of the Commodity Futures Act, or to an order made under section 78 of that Act to vary such an order, if the person to whom the order is directed consents, in writing, to the Commission varying or revoking the order. 5. Omitted (provides for coming into force of provisions of this Regulation).