Arguments by alleged insider traders Argued against the double-aspect: regulation of trading shares of federally incorporated companies falls within exclusive federal jurisdiction In the alternative, if is a double-aspect, Paramountcy overrides it Provincial Federal Ontario Securities Act Canadian Corporations Act Prohibited insider trading in shares trading Obligations attached to ownership of shares on the TSX in a federal company to …extends shareholders, employees etc Incorporation of companies with than provincial objects belongs to federal parliament Also extends to maintenance & shareholder interests Result The subject of insider trading has a double-aspect Dissenting judges didn’t find double-aspect. Only a provincial as of securities “regulation transactions falls under the provincial class of and civil rights”.” “property Both IID and Paramountcy were held to not apply Impaired Driving = Double-Aspect 1. Criminal Code 2. Motor Vehicle Act Class: 91 (27) criminal law 92(13) + 1 (b) + (15) Property and Civil Rights – – Local nature Matter/ - Prohibition of reckless driving is Safety on Highways socially injurious Double Aspect Pith + Substance Aspect C. Necessarily Incidental/Ancillary Doctrine General Motors of Canada Ltd v City National Leasing (CNL) GM Saved by the Ancillary Doctrine Sets out Anc. Doc. Test Background: CNL brought an action against GM for violating s. 33.1 of the federal Combines Investigation Act Whole federal Act was valid, but GM had to resort to questioning the validity of s. 33.1 GM argued that s.33.1 was ultra vires federal parliament because the creation of civil causes of action falls within provincial jurisdiction in relations to and civil rights” “property Result The provision passes the test” “ancillary S. 31.1 intrudes in a limited way on the important provincial power over civil rights S. 31.1 does have a necessary link to the Act S. 31.1 is an integral, well-conceived component of the economic regulation strategy found in the federal Combines Investigations Act S. 31.1 is integrated into the purpose and underlying philosophy of the Act
Arguments by alleged insider traders Argued against the double-aspect: regulation of trading shares of federally incorporated companies falls within exclusive federal jurisdiction In the alternative, if is a double-aspect, Paramountcy overrides it Provincial Ontario Securities Act Prohibited insider trading in shares trading on the TSX Federal Canadian Corporations Act Obligations attached to ownership of shares in a federal company …extends to shareholders, employees etc Incorporation of companies with than provincial objects belongs to federal parliament Also extends to maintenance & shareholder interests Result The subject of insider trading has a double-aspect Dissenting judges didn’t find double-aspect. Only a provincial as “regulation of securities transactions falls under the provincial class of “property and civil rights”.” Both IID and Paramountcy were held to not apply Impaired Driving = Double-Aspect 1. Criminal Code Class: 91 (27) – criminal law Matter/ - Prohibition of reckless driving is socially injurious Pith + Substance Aspect 2. Motor Vehicle Act 92(13) + 1 (b) + (15) Property and Civil Rights – Local nature Safety on Highways Double Aspect C. Necessarily Incidental/Ancillary Doctrine General Motors of Canada Ltd v City National Leasing (CNL) GM Saved by the Ancillary Doctrine Sets out Anc. Doc. Test Background: CNL brought an action against GM for violating s. 33.1 of the federal Combines Investigation Act Whole federal Act was valid, but GM had to resort to questioning the validity of s. 33.1 GM argued that s.33.1 was ultra vires federal parliament because the creation of civil causes of action falls within provincial jurisdiction in relations to “property and civil rights” Result The provision passes the “ancillary test” S. 31.1 intrudes in a limited way on the important provincial power over civil rights S. 31.1 does have a necessary link to the Act S. 31.1 is an integral, well-conceived component of the economic regulation strategy found in the federal Combines Investigations Act S. 31.1 is integrated into the purpose and underlying philosophy of the Act
Bakan_54_Fall_2012_A_Rob.docx