Who needs to file a Notice to the Administrator:
If the registered owner ceases to be a reporting body, they are required to file a Notice to the Administrator under s. 17.1 of LOTA ("notice required if corporation, trust or partnership ceases to be a relevant corporation, relevant trust or relevant partnership"). An example of when this might happen is when a relevant corporation becomes a corporation that is listed on a designated stock exchange and is now excluded as a reporting body under schedule 1 of LOTA.
A Notice to the Administrator is only required if a former reporting body had previously filed a transparency report and that reporting body ceases to be a relevant corporation, relevant trust or relevant partnership.
There are three circumstances where a Notice to the Administrator must be filed:
- A corporation or limited liability company that has ceased to be a relevant corporation
- A trust that has ceased to be a relevant trust
- A partnership that has ceased to be a relevant partnership
The corporation, trustee or partner must give notice to the Administrator within two months after the date on which the entity ceased to be a relevant corporation, trust or partnership.