9205. Membership approval applications

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    1. The District Council shall make a recommendation to the Board to:  

      1. approve an application for Dealer Member Membership in IIROC made pursuant to section 3.5 of General By-law No. 1, 

      2. approve the application subject to such terms and conditions as may be considered just and appropriate, or

      3. refuse the application if, in its opinion: 

        1. the applicant does not comply with one or more IIROC requirements

        2. one or more IIROC requirements will not be complied with by the applicant,

        3. the applicant is not qualified for approval by reason of integrity, solvency, or experience, or

        4. such approval is not in the public interest.

    2. Prior to consideration of an application for Dealer Member Membership in IIROC by the Board, the applicant shall be informed that it has an opportunity to be heard by the Board before the Board decides on the application and shall be given a copy of the District Council’s recommendation and informed in writing of the reasons for it.

    3. The Board shall have the power to:

      1. approve an application for Dealer Member Membership in IIROC made pursuant to section 3.5 of General By-law No. 1, 

      2. approve the application subject to such terms and conditions as may be considered just and appropriate, or

      3. refuse the application if, in its opinion:

        1. the applicant does not comply with one or more IIROC requirements

        2. one or more IIROC requirements will not be complied with by the applicant,

        3. the applicant is not qualified for approval by reason of integrity, solvency, or experience, or

        4. such approval is not in the public interest.

    4. A decision of the Board under subsection 9205(3) is a final decision for which no further review or appeal is provided under IIROC requirements.

    There is no history log for this rule.

    There is no history log for this rule.