Marginal note:Acquisition of significant interest
373 (1) Subject to this Part, no person, or entity controlled by a person, shall, without the approval of the Minister, purchase or otherwise acquire any share of a bank or purchase or otherwise acquire control of any entity that holds any share of a bank if
(a) the acquisition would cause the person to have a significant interest in any class of shares of the bank; or
(b) where the person has a significant interest in a class of shares of the bank, the acquisition would increase the significant interest of the person in that class of shares.
Marginal note:Amalgamation, etc., constitutes acquisition
(2) If, as a result of an amalgamation, merger or reorganization, the entity that results would have a significant interest in a class of shares of a bank, that entity is deemed to be acquiring a significant interest in that class of shares of the bank through an acquisition for which the approval of the Minister is required.
- 1991, c. 46, s. 373
- 1994, c. 47, s. 17
- 1997, c. 15, s. 37(E)
- 2001, c. 9, s. 98
- Date modified: