Complaints to Corporations Canada
Anyone wishing to register a complaint with Corporations Canada asking for intervention in an export transaction should contact Corporations Canada by a letter that:
- describes the situation and lays out all material considerations
- indicates the number of persons affected by the transaction
- provides any other material considerations.
Corporations Canada will consider the following factors when determining whether or not to intervene:
- the basis of the complaint
- any other remedies available
- the nature of the public interest involved
- any other material considerations.
Corporations Canada will not agree to intervene where the application relates to non-disclosure on behalf of a person who has specifically consented, by vote or otherwise, to the export transaction.
The form of Corporations Canada's intervention will be adapted to reflect the special circumstances of each case. For example, Corporations Canada may reject an application for continuance (export) or could, with other interested parties, explore conflict resolution alternatives (for example, mediation and arbitration).
Any interested person who feels negatively affected by an export transaction or a decision of Corporations Canada can apply to a court that would have wide discretion to design an appropriate remedy for the circumstances, including establishing the rights of members, shareholders or creditors of the corporation. The court can also order Corporations Canada to change its decision to issue, or refuse to issue, the Certificate of Discontinuance.