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Bank Act

Version of section 377.1 from 2012-05-24 to 2012-12-18:


Marginal note:Restriction on control

  •  (1) No person shall, without the approval of the Minister, acquire control, within the meaning of paragraph 3(1)(d), of a bank with equity of less than twelve billion dollars.

  • Marginal note:Amalgamation, etc., constitutes acquisition

    (2) If the entity that would result from an amalgamation, a merger or a reorganization would control, within the meaning of paragraph 3(1)(d), a bank with equity of less than twelve billion dollars, the entity is deemed to be acquiring control, within the meaning of that paragraph, of the bank through an acquisition for which the approval of the Minister is required under subsection (1).

  • 2001, c. 9, s. 98
  • 2007, c. 6, s. 20
  • 2012, c. 5, s. 20

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