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Trust and Loan Companies Act

Version of section 409 from 2009-03-12 to 2024-05-01:

Marginal note:Main business

  •  (1) Subject to this Act, a company shall not engage in or carry on any business other than such business generally as appertains to the business of providing financial services.

  • Marginal note:Idem

    (2) For greater certainty, a company may

    • (a) subject to section 412, act as a trustee;

    • (b) act as a financial agent, receiver, liquidator or sequestrator;

    • (c) provide investment counselling services and portfolio management services; and

    • (d) issue payment, credit or charge cards and, in cooperation with others including other financial institutions, operate a payment, credit or charge card plan.

  • 1991, c. 45, s. 409
  • 2009, c. 2, s. 289(F)

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