Superintendent
of Surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular section 288.6;
AND REGARDING Yorkville Diagnostics Inc.
ORDER TO REVOKE LICENCE
Yorkville Diagnostics Inc. is a licensed Service Provider under the Act, licence number SP10210. Yorkville Diagnostics Inc. was required to submit an Annual Information Return (“AIR”) under subsection 21(1) of Ontario Regulation 90/14 for 2015 by March 31, 2016, in accordance with the direction of the Superintendent. Subsection 21(2) of Ontario Regulation 90/14 requires a licensed Service Provider to ensure the AIR contains such information as will enable to Superintendent to calculate the fees payable by the Service Provider under the Act.
Subsection 3(3) of the Minister’s Schedule of Required Fees For Service Providers, made under section 121.1 of the Act, imposes an Annual Regulatory Fee (“ARF”) that shall be paid when the Service Provider submits the AIR.
Yorkville Diagnostics Inc. failed to submit the AIR before the March 31, 2016 deadline, and to date has not submitted the AIR. By failing to submit the AIR Yorkville Diagnostics Inc. has failed to pay the ARF imposed pursuant to section 121.1 of the Act.
Paragraph 2 of subsection 288.6(3) of the Act provides that the Superintendent may, by order, revoke the service provider licence without taking the steps required by section 288.7 of the Act in “other circumstances as may be prescribed”.
Pursuant to paragraph 1 of subsection 2.1(2) of Ontario Regulation 348/13, a failure by a licensed Service Provider to pay a fee imposed under section 121.1 of the Act is a prescribed circumstance in which the Superintendent may revoke the licence without taking the steps required by section 288.7 of the Act.
ORDER
Pursuant to subsection 288.6(3) of the Act, the Service Provider licence of Yorkville Diagnostics Inc. is hereby revoked.
DATED at Toronto, Ontario, December 16, 2016.
___________________________
Heather Driver
Director, Licensing Branch
By Delegated Authority from:
The Superintendent of Financial Services