Review to have a condition or restriction withdrawn
Application
This section is for authorized trust companies seeking to have a condition or restriction attached to its authorization withdrawn.
Trust company’s application for review of its authorization
The application for review must specify the condition or restriction the trust company wishes to have withdrawn and the reasons for the withdrawal (s. 124, 1st par. TCSCA) as well as any other information prescribed by regulation of the AMF (s. 124, 2nd par. TCSCA).
The costs and fees prescribed by government regulation must also be filed with the application (s. 124, 2nd par. TCSCA).
The provisions applicable to trust companies that apply for review of their authorization are found in sections 123 to 125 of the Trust Companies and Savings Companies Act (“TCSCA”) 
This link will open in a new window, CQLR, c. S-29.02.
Checklists
The following checklists summarize the information and documents to be included in or with the application for review.
Information to be included in the trust company’s application for review of its authorization
| Information/Documents | Source | Clarification by the AMF |
|---|---|---|
| 1. The condition or restriction the trust company wishes to have withdrawn | s. 124, 1st par. TCSCA | n/a |
| 2. The rationale for the withdrawal | s. 124, 1st par. TCSCA | n/a |
| 3. Any other information prescribed by regulation of the AMF | s. 124, 2nd par. TCSCA | No document required by regulation |
Documents to be enclosed with the trust company’s application for review of authorization
| Information/Documents | Source | Clarification by the AMF |
|---|---|---|
| 1. The costs and fees prescribed by government regulation | s. 124, 2nd par. TCSCA | n/a |
Review of authorization
On receipt of the application and the required information, the AMF reviews the authorization to determine whether or not it may grant the application (s. 125, 1st par. TCSCA). The AMF may, in withdrawing a condition or restriction, require any undertaking it considers necessary to ensure compliance with the Act (s. 125, 2nd par. TCSCA). The AMF may also maintain the authorization as is, attach certain conditions or restrictions to it, or revoke or suspend it (s. 121 TCSCA).
When the AMF rules on an application for review filed by an authorized trust company, it sends the company a document justifying its decision (s. 125, 3rd par. TCSCA).
Fees and costs payable
Refer to the complete list of fees and costs payable to the AMF for more information.
Processing time
Except in specific circumstances, the AMF will rule on a trust company’s application for review within 90 days from the date the application is complete.