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Bank Act

Version of section 377 from 2012-12-19 to 2024-05-01:


Marginal note:Prohibition against control

  •  (1) No person shall control, within the meaning of paragraph 3(1)(d), a bank with equity of twelve billion dollars or more.

  • Marginal note:Exception — federal credit union

    (1.1) Subsection (1) does not apply in respect of a person who controls a federal credit union.

  • Marginal note:Exception

    (2) Subsection (1) does not apply if any of subsections 374(2) to (6) applies to the person in respect of the bank.

  • 1991, c. 46, s. 377
  • 2001, c. 9, s. 98
  • 2007, c. 6, s. 132
  • 2010, c. 12, s. 2059
  • 2012, c. 5, s. 19

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