25Requiring financial assurances

25 Requiring financial assurances

25 Requiring financial assurances

(1) The regulator may, at any time, impose a condition on an approved action plan to require the brand owner subject to the approved action plan to provide a financial assurance.

(2) The regulator may require a financial assurance to be provided before it approves an action plan.

(3) A financial assurance may be in 1 or more of the following forms—

(a) a bank guarantee,

(b) a bond,

(c) another form of security the regulator considers appropriate and specifies in the condition.

(4) A condition of an action plan may provide for the procedures under which the financial assurance may be called on or used.