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Vol. 135, No. 31 — August 4, 2001
Minority Investment (Trust and Loan Companies) Regulations
Statutory Authority
Trust and Loan Companies Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | MINORITY INVESTMENT (TRUST AND
LOAN COMPANIES) REGULATIONS |
|---|---|
| INTERPRETATION | |
| Definitions |
1. The following definitions apply in these Regulations. |
| "Act" « Loi » |
"Act" means the Trust and Loan Companies Act. |
| "designated entity" « entité désignée » |
"designated entity" means (a) an entity referred to in any of paragraphs 453(1)(a) to (j) of the Act; (b) an entity whose business includes one or more of the activities referred to in paragraph 453(2)(a) of the Act and that engages, as part of its business, in any financial intermediary activity that exposes the entity to material market or credit risk, including a factoring entity, a finance entity or a financial leasing entity; or (c) an entity whose business includes an ctiveity referred to in paragraph 453(2)(b) of the Act, including a specialized financing entity, other than an entity in which a company is permitted to acquire or increase a substantial investment under subparagraph 453(4)(c)(iii) of the Act. |
| "regulatory capital" « capital réglementaire » |
"regulatory capital" has the same meaning as in section 3 of the Regulatory Capital (Trust and Loan Companies) Regulations. |
| "value" « valeur » |
"value" means (a) in respect of a share, ownership interest or loan held by a company at a particular time, the book value of the share, ownership interest or loan that would be reported on the balance sheet of the company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 313(4) of the Act; and (b) in respect of a guarantee, the face value of the guarantee. |
| GENERAL | |
| Permitted substantial investments | 2. Subject to section 3, (a) for the purposes of subparagraphs 453(4)(a)(ii), (b)(ii) and (c)(ii) of the Act, a company may acquire or increase a substantial investment in a designated entity; and (b) for the purpose of paragraph 453(10)(a) of the Act, if a company controls a designated entity, the company may give up control of the designated entity while keeping a substantial investment in it. |
| Restriction concerning investments | 3. Subject to sections 5 and 6, a company must
not acquire or increase a substantial investment in a designated entity
under paragraph 2(a) or give up control of a designated entity
while keeping a substantial investment in it under paragraph 2(b)
if, after the acquisition, increase or giving up of control, the total
value of the following would exceed 50% of the company's regulatory
capital: (a) all shares and ownership interests beneficially owned by the company, and all shares and ownership interests beneficially owned by entities controlled by the company, in designated entities in which the company has a substantial investment but over which it does not exercise control, (b) all loans held by the company, and all loans held by entities controlled by the company, that were made to designated entities in which the company has a substantial investment but over which it does not exercise control, and (c) all outstanding guarantees given by the company, and all outstanding guarantees given by entities controlled by the company, on behalf of designated entities in which the company has a substantial investment but over which it does not exercise control. |
| Restriction concerning loans | 4. Subject to sections 5 and 6, a company that has a substantial investment in a designated entity over which it does not exercise control must not make a loan to, or give a guarantee on behalf of, the designated entity, or permit entities controlled by it to do so, if, after the making of the loan or the giving of the guarantee, the total value of the shares, ownership interests, loans and guarantees referred to in paragraphs 3(a) to (c) would exceed 50% of the company's regulatory capital. |
| Limitation | 5. In paragraphs 3(a) to (c)
and section 4, any reference to a substantial investment that a company
has does not include a substantial investment acquired by the company (a) under regulations made under paragraph 459(a) of the Act, other than these Regulations; (b) under subsection 451(3.1) of the Act, as that subsection read before the coming into force of section 550 of the Financial Consumer Agency of Canada Act, S.C. 2001, c. 9; or (c) by way of an investment of a specialized financing entity controlled by the company. |
| Calculation of "total value" in section 3 or 4 | 6. For the purpose of calculating the total value referred to in section 3 or 4 in respect of a company, no amount may be included in respect of shares or ownership interests acquired under sections 456 to 458 of the Act or acquired by a bank controlled by the company under subsection 193(12) or (13) of the Bank Act, chapter B-1 of the Revised Statutes of Canada, 1985. |
| REPEAL | |
| Repeal | 7. The Minority Investment (Trust and Loan Companies) Regulations(see footnote 1) are repealed. |
| COMING INTO FORCE | |
| Coming into force | 8. These Regulations come into force on the day on which section 459 of the Trust and Loan Companies Act, as enacted by section 550 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Name Use (Foreign Banks) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | NAME USE (FOREIGN BANKS) REGULATIONS |
|---|---|
| INTERPRETATION | |
| Definitions |
1. The following definitions apply in these Regulations. |
| "Act" « Loi » |
"Act" means the Bank Act. |
| "exemption order" « arrêté d'exemption » |
"exemption order" has the same meaning as in subsection 507(1) of the Act. |
| PERMITTED USE IN DESCRIBING CERTAIN RELATIONSHIPS |
|
| Foreign bank and bank | 2. For the purpose of paragraph 983(4)(f)
of the Act, a foreign bank may use the word "bank", "banker" or "banking"
without condition in describing its corporate relationship with a
bank if the foreign bank (a) is not the subject of an exemption order; or (b) is the subject of an exemption order and has controlled the bank since before February 7, 2001. |
| Foreign bank and bank holding company | 3. For the purpose of paragraph 983(4)(f) of the Act, a foreign bank that is not the subject of an exemption order may use the word "bank", "banker" or "banking" without condition in describing its corporate relationship with a bank holding company. |
| Entity associated with a foreign bank and bank or bank holding company | 4. For the purpose of paragraph 983(4)(f)
of the Act, an entity may use the word "bank", "banker" or "banking"
without condition in describing its corporate relationship with a
bank or a bank holding company if the entity (a) is not a foreign bank; (b) is not controlled by a bank or a bank holding company; and (c) is associated with a foreign bank that is not the subject of an exemption order. |
| Prescribed Canadian entity | 5. (1) For the purpose of paragraph 983(4)(g)
of the Act, a Canadian entity is prescribed if it (a) is a non-bank affiliate of a foreign bank as defined in subsection 507(1) of the Act, other than a bank holding company or an entity that is controlled by a bank holding company or in which a bank holding company has a substantial investment; and (b) is controlled by a foreign bank that is not the subject of an exemption order or by an entity, other than a bank or bank holding company, associated with such a foreign bank. |
| Prescribed Canadian entity and foreign bank | (2) For the purpose of paragraph 983(4)(g) of the Act,
in a description of the corporate relationship of a prescribed Canadian
entity with a foreign bank that is not the subject of an exemption
order, the word "bank", "banker" or "banking" may be used (a) without condition if the foreign bank is an authorized foreign bank; and (b) in any other case, if the description includes a statement that the foreign bank is not regulated in Canada as a financial institution, a bank holding company or an insurance holding company. |
| Prescribed Canadian entity and entity associated with foreign bank | (3) For the purpose of paragraph 983(4)(g) of the Act,
in a description of the corporate relationship of a prescribed Canadian
entity with an entity — other than a bank, a bank holding company,
an entity controlled by a bank or a bank holding company, or a foreign
bank — that is associated with a foreign bank that is not the
subject of an exemption order, the word "bank", "banker" or "banking"
may be used (a) without condition if the entity associated with a foreign bank is one described in any of paragraphs 468(1)(c) to (i) of the Act; and (b) in any other case, if the description includes a statement that the entity associated with a foreign bank is not regulated in Canada as a financial institution, a bank holding company or an insurance holding company. |
| OTHER PERMITTED USES | |
| Prescribed entity | 6. (1) For the purpose of subsection 983(10) of the Act, all entities that are associated with a foreign bank within the meaning of section 507 of the Act are prescribed. |
| Prescribed circumstances | (2) For the purpose of paragraph 983(10)(b) of the Act,
each of the following circumstances is prescribed: (a) when the Canadian entity is controlled by the foreign bank with which it is associated and that foreign bank is not the subject of an exemption order; and (b) when the Canadian entity and a prescribed entity — other than a bank or bank holding company or an entity controlled by a bank or a bank holding company — that controls it are associated with the same foreign bank and that foreign bank is not the subject of an exemption order. |
| Terms and conditions re use of name of foreign bank | (3) For the purpose of paragraph 983(10)(b) of the Act,
the prescribed terms and conditions for the use of the name, identifying
mark, logogram or insignia of the foreign bank in the circumstances
described in paragraph (2)(a) are the following: (a) the foreign bank must approve the use; and (b) unless the foreign bank is an authorized foreign bank, the Canadian entity must disclose, in conjunction with the use, that the foreign bank is not regulated in Canada as a financial institution, a bank holding company or an insurance holding company. |
| Terms and conditions re use of name of prescribed entity | (4) For the purpose of paragraph 983(10)(b) of the Act,
the prescribed terms and conditions for the use of the name, identifying
mark, logogram or insignia of the prescribed entity in the circumstances
described in paragraph (2)(b) are the following: (a) the prescribed entity must approve the use; and (b) unless the prescribed entity is one described in any of paragraphs 468(1)(c) to (i) of the Act, the Canadian entity must disclose, in conjunction with the use, that the prescribed entity is not regulated in Canada as a financial institution, a bank holding company or an insurance holding company. |
| Prescribed entity | 7. For the purpose of subsection 983(10.1) of the Act, the entities prescribed are those that are associated, within the meaning of section 507 of the Act, with a foreign bank that is not the subject of an exemption order. |
| COMING INTO FORCE | |
| Coming into force | 8. These Regulations come into force on the day on which subsection 983(2) of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Name Use by Non-financial Businesses (Excluded Entities) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | NAME USE BY NON-FINANCIAL BUSINESSES (EXCLUDED ENTITIES) REGULATIONS |
|---|---|
| INTERPRETATION | |
| Definitions |
1. The following definitions apply in these Regulations. |
| "Act" « Loi » |
"Act" means the Bank Act. |
| "exemption order" « arrêté d'exemption » |
"exemption order" has the same meaning as in subsection 507(1) of the Act. |
| PRESCRIBED ENTITIES | |
| Prescribed entities | 2. For the purpose of paragraph 983(4)(a)
of the Act, the following entities are prescribed: (a) an entity in which a bank has a substantial investment; (b) a financial institution; (c) an authorized foreign bank; (d) any other foreign bank that is not the subject of an exemption order; (e) a subsidiary of a bank holding company; (f) an entity in which a bank holding company has a substantial investment; (g) an entity that is associated with a foreign bank, within the meaning of section 507 of the Act, if the foreign bank is not the subject of an exemption order; (h) an entity in which a foreign bank that is not the subject of an exemption order has a substantial investment; and (i) an entity in which another entity has a substantial investment, if the other entity is associated with a foreign bank, within the meaning of section 507 of the Act, and the foreign bank is not the subject of an exemption order. |
| COMING INTO FORCE | |
| Coming into force | 3. These Regulations come into force on the day on which subsection 983(2) of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Name Use in Securities-related Transactions (Banks and Bank Holding Companies) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definition | |
|---|---|
| PERMITTED USE OF NAME | |
| Use of name of bank or bank holding company | 1. A person may use the name of a bank or of a bank holding company in a prospectus, offering memorandum, takeover bid circular, advertisement for a transaction related to securities or in any other document in connection with a transaction related to securities if the use is required by law or if the bank or bank holding company, as the case may be, has given its written permission for the use. |
| REPEAL | |
| Repeal | 2. The Name Use (Bank) Regulations(see footnote 2) are repealed. |
| COMING INTO FORCE | |
| Coming into force | 3. These Regulations come into force on the day on which subsection 983(1) of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, being chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Name Use in Securities-related Transactions (Insurance Companies and Insurance Holding Companies) Regulations
Statutory Authority
Insurance Companies Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definition | NAME USE IN SECURITIES-RELATED TRANSACTIONS
(INSURANCE COMPANIES AND INSURANCE HOLDING COMPANIES) REGULATIONS |
|---|---|
| PERMITTED USE OF NAME | |
| Use of name of company or insurance holding company | 1. A person may use the name of a company or of an insurance holding company in a prospectus, offering memorandum, takeover bid circular, advertisement for a transaction related to securities or in any other document in connection with a transaction related to securities if the use is required by law or if the company or insurance holding company, as the case may be, has given its written permission for the use. |
| REPEAL | |
| Repeal | 2. The Name Use (Insurance Companies) Regulations(see footnote 3) are repealed. |
| COMING INTO FORCE | |
| Coming into force | 3. These Regulations come into force on the day on which section 1026 of the Insurance Companies Act, as enacted by section 465 of the Financial Consumer Agency of Canada Act, being chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Prohibited Activities Respecting Real Property (Foreign Banks) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | PROHIBITED ACTIVITIES RESPECTING REAL PROPERTY (FOREIGN BANKS) REGULATIONS |
|---|---|
| PROHIBITED ACTIVITIES | |
| Prohibited activities | 1. Paragraphs 510(1)(a) and (b) of the Bank Act apply in respect of the holding, managing and other dealing with real property in Canada by a foreign bank or an entity associated with a foreign bank if that holding, managing or other dealing involves the making or acquiring of loans or advances on security of real property in Canada. |
| COMING INTO FORCE | |
| Coming into force | 2. These Regulations come into force on the day on which section 514 of the Bank Act, as enacted by section 132 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Prospectus (Banks and Bank Holding Companies) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | PROSPECTUS (BANKS AND BANK HOLDING COMPANIES) REGULATIONS |
|---|---|
| FORM AND CONTENT | |
| Requirements to be met | 1. A preliminary prospectus or prospectus relating
to the distribution of securities of a bank or a bank holding company
must be prepared in compliance with the laws of the province in which
the preliminary prospectus or prospectus is to be distributed (a) respecting the form and content of the preliminary prospectus or prospectus; (b) specifying the financial statements, reports or other documents that are to be included with the preliminary prospectus or prospectus; and (c) respecting the disclosure of the material facts in relation to the securities to be distributed. |
| DISTRIBUTION | |
| Requirements to be met | 2. Every person who distributes a preliminary prospectus or prospectus must comply with the laws of the province in which the preliminary prospectus or prospectus is to be distributed respecting the distribution of the preliminary prospectus or prospectus to prospective purchasers. |
| REPEAL | |
| Repeal | 3. The Prospectus (Banks) Regulations(see footnote 4) are repealed. |
| COMING INTO FORCE | |
| Coming into force | 4. These Regulations come into force on the day on which section 835 of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Prospectus (Insurance Companies and Insurance Holding Companies) Regulations
Statutory Authority
Insurance Companies Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| definitions | PROSPECTUS (INSURANCE COMPANIES AND INSURANCE HOLDING COMPANIES) REGULATIONS |
|---|---|
| FORM AND CONTENT | |
| Requirements to be met | 1. A preliminary prospectus or prospectus relating
to the distribution of securities of a company or an insurance holding
company must be prepared in compliance with the laws of the province
in which the preliminary prospectus or prospectus is to be distributed (a) respecting the form and content of the preliminary prospectus or prospectus; (b) specifying the financial statements, reports or other documents that are to be included with the preliminary prospectus or prospectus; and (c) respecting the disclosure of the material facts in relation to the securities to be distributed. |
| DISTRIBUTION | |
| Requirements to be met | 2. Every person who distributes a preliminary prospectus or prospectus must comply with the laws of the province in which the preliminary prospectus or prospectus is to be distributed respecting the distribution of the preliminary prospectus or prospectus to prospective purchasers. |
| REPEAL | |
| Repeal | 3. The Prospectus (Insurance Companies) Regulations(see footnote 5) are repealed. |
| COMING INTO FORCE | |
| Coming into force | 4. These Regulations come into force on the day on which section 883 of the Insurance Companies Act, as enacted by section 465 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Prospectus Exemptions (Bank Holding Companies) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
| définitions | PROSPECTUS EXEMPTIONS (BANK HOLDING COMPANIES) REGULATIONS |
|---|---|
| INTERPRETATION | |
| Definition of "Act" |
1. In these Regulations, "Act" means the Bank Act. |
| EXEMPTIONS | |
| Exempt distributions | 2. Sections 273, 274 and 276 to 282 of the Act
do not apply in respect of a distribution (a) outside Canada or to persons residing outside Canada; (b) that consists solely of trades made between a bank holding company, or a person or group of persons referred to in paragraph 273(3)(b) of the Act, and not more than 25 persons, if the trades result in not more than 25 persons being beneficial owners of the securities so traded; (c) that consists of a trade or trades made in the course of
(f) that is made in accordance with a short-form prospectus system under the laws of, or under a policy or practice in effect in, the province in which the distribution is to be made. |
| Information | 3. When a bank holding company or other person applies to the Superintendent under section 276 of the Act for the exemption of a proposed distribution from the application of sections 273, 274 and 277 to 282 of the Act, the bank holding company or other person must send the Superintendent a copy of all information that is required to be provided to the authority charged with the administration of the laws, policy or practice regarding distributions in the jurisdiction in which the distribution is to be made. |
| COMING INTO FORCE | |
| Coming into force | 4. These Regulations come into force on the day on which section 835 of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force. |
| [31-1-o] |
Regulations Amending the Prospectus Exemptions (Banks) Regulations
Statutory Authority
Bank Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
REGULATIONS AMENDING THE PROSPECTUS EXEMPTIONS (BANKS) REGULATIONS
AMENDMENTS
1. The long title of the Prospectus Exemptions (Banks) Regulations (see footnote 6) is replaced by the following:
PROSPECTUS EXEMPTIONS (BANKS) REGULATIONS
2. Section 1 of the Regulations and the heading before it are repealed.
3. (1) The portion of section 3 of the Regulations before paragraph (a) is replaced by the following:
3. Sections 273, 274 and 276 to 282 of the Act do not apply in respect of a distribution
(2) Subparagraph 3(c)(i) of the Regulations is replaced by the following:
(i) a transaction under which a bank acquires ownership of the assets of an entity that in turn ceases to exist, or
4. Section 4 (see footnote 7) of the Regulations is replaced by the following:
4. When a bank or other person applies to the Superintendent under section 276 of the Act for the exemption of a proposed distribution from the application of sections 273, 274 and 277 to 282 of the Act, the bank or other person must send the Superintendent a copy of all information that is required to be provided to the authority charged with the administration of the laws, policy or practice regarding distributions in the jurisdiction in which the distribution is to be made.
COMING INTO FORCE
5. These Regulations come into force on the day on which section 3 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.
[31-1-o]
Regulations Amending the Prospectus Exemptions (Cooperative Credit Associations) Regulations
Statutory Authority
Cooperative Credit Associations Act
Sponsoring Department
Department of Finance
REGULATORY IMPACT ANALYSIS STATEMENT
For the Regulatory Impact Analysis Statement, see the Aggregate Financial Exposure (Banks) Regulations.
PROPOSED REGULATORY TEXT
For the Proposed Regulatory Text, see the Aggregate Financial Exposure (Banks) Regulations.
REGULATIONS AMENDING THE PROSPECTUS EXEMPTIONS (COOPERATIVE CREDIT ASSOCIATIONS) REGULATIONS
AMENDMENTS
1. The long title of the Prospectus Exemptions (Cooperative Credit Associations) Regulations (see footnote 8) is replaced by the following:
PROSPECTUS EXEMPTIONS (COOPERATIVE CREDIT ASSOCIATIONS) REGULATIONS
2. Section 1 of the Regulations and the heading before it are repealed.
3. (1) The portion of section 3 of the Regulations before paragraph (a) is replaced by the following:
3. Sections 268, 269 and 271 to 277 of the Act do not apply in respect of a distribution
(2) Subparagraph 3(c)(i) of the Regulations is replaced by the following:
(i) a transaction under which an association acquires ownership of the assets of an entity that in turn ceases to exist, or
4. Section 4 (see footnote 9) of the Regulations is replaced by the following:
4. When an association or other person applies to the Superintendent under section 271 of the Act for the exemption of a proposed distribution from the application of sections 268, 269 and 272 to 277 of the Act, the association or other person must send the Superintendent a copy of all information that is required to be provided to the authority charged with the administration of the laws, policy or practice regarding distributions in the jurisdiction in which the distribution is to be made.
COMING INTO FORCE
5. These Regulations come into force on the day on which section 3 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.
[31-1-o]
SOR/97-374
SOR/92-258
SOR/92-259
SOR/95-339
SOR/95-341
SOR/94-73
SOR/97-502
SOR/94-74
SOR/97-502
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