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Bank Act

Version of section 2.4 from 2012-12-19 to 2024-05-01:


Marginal note:Regulations — distributing bank or bank holding company

  •  (1) The Governor in Council may make regulations respecting the determination of what constitutes a distributing bank or distributing bank holding company for the purposes of this Act.

  • Marginal note:Exemption — bank or bank holding company

    (2) On the application of a bank or bank holding company, the Superintendent may determine that it is not or was not a distributing bank or distributing bank holding company, as the case may be, if the Superintendent is satisfied that the determination would not prejudice any security holder of that bank or bank holding company or any holder of a membership share of that bank.

  • Marginal note:Exemption — class of banks or bank holding companies

    (3) The Superintendent may determine that members of a class of banks or bank holding companies are not or were not distributing banks or distributing bank holding companies, as the case may be, if the Superintendent is satisfied that the determination would not prejudice any security holder of a member of the class or any holder of a membership share of a bank that is a member of the class.

  • 2005, c. 54, s. 2
  • 2010, c. 12, s. 1896

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