Dennis Oland, who is charged with second-degree murder in the death of his father, prominent businessman Richard Oland, has been released on bail.

There is a publication ban on the evidence presented and reasons given during the unexpected bail hearing, which was held in Saint John Court of Queen's Bench on Monday morning.

There were sighs of relief and smiles around the crowded courtroom as Justice Hugh McLellan announced his decision.

When the hearing endedOland shared a long embrace with his wife, Lisa Oland, and his mother, Connie Oland, as he fought back tears.

The 45-year-old stockbroker and investment adviser, then walked around the courtroom, shaking hands with supporters and hugging others, who offered their congratulations. One man urged him to "take a deep breath."

The judge did impose some conditions, including requiring a $50,000 surety, covered by his uncle, Derek Oland.

Dennis Oland must also surrender his passport, maintain his residence at 58 Gondola Point Rd., in Rothesay, advise Saint John police of any change in his address, and advise police of any travel outside of New Brunswick.

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Businessman Richard Oland was found dead in his Saint John office on July 7, 2011. (Canadian Yachting Association)

Richard Oland, 69, was found dead in his uptown office on July 7, 2011.

Dennis Oland, who was charged last Wednesday and remanded in custody, was not scheduled to appear in court again until Tuesday to set a date for a preliminary inquiry.

He has not entered any plea.

His court appearance was attended by several members of the Oland family and other supporters — more than attended his first court appearance.

Oland, who has been represented by Fredericton lawyer Gary Miller since early on in the case, also had Toronto lawyer Alan Gold acting on his behalf at the bail hearing.

Gold, a high-profile defence lawyer, is also currently representing police officers who are facing Police Service Act charges stemming from the G20 protests in Toronto three years ago.

Patrick Wilbur and John Henheffer are the Crown prosecutors.

Oland, who appeared tired and dishevelled during his last court appearance, listened attentively to the proceedings, which lasted about 3½ hours. He was sporting a dark suit, crisp white shirt and tie.

He is scheduled to appear in Saint John provincial court on Tuesday morning to set a date for a preliminary inquiry, which will determine if there's enough evidence to proceed to a trial.

If the case does go to trial and the Crown proves beyond a reasonable doubt that Oland is guilty, he would face a minimum sentence of life in prison with no chance of parole for 10 years.