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Budget Implementation Act, 2006 (S.C. 2006, c. 4)

Assented to 2006-06-22

Marginal note:2001, c. 9, s. 183

199.1 Subsection 670(1) of the Act is replaced by the following:

Marginal note:Sunset provision

  • 670. (1) Subject to subsection (2), bank holding companies shall not carry on business after April 24, 2007, except that if Parliament dissolves on that day or at any time within the three-month period before that day, bank holding companies may continue to carry on business until the day that is one hundred and eighty days after the first day of the first session of the next Parliament.

Marginal note:1991, c. 48

Cooperative Credit Associations Act

Marginal note:2001, c. 9, s. 254

200. Subsection 22(1) of the Cooperative Credit Associations Act is replaced by the following:

Marginal note:Sunset provision

  • 22. (1) Subject to subsection (2), associations shall not carry on business after April 24, 2007, except that if Parliament dissolves on that day or at any time within the three-month period before that day, associations may continue to carry on business until the day that is one hundred and eighty days after the first day of the first session of the next Parliament.

Marginal note:1991, c. 47

Insurance Companies Act

Marginal note:2001, c. 9, s. 353

201. Subsection 21(1) of the Insurance Companies Act is replaced by the following:

Marginal note:Sunset provision

  • 21. (1) Subject to subsection (2), companies and societies shall not carry on business after April 24, 2007, except that if Parliament dissolves on that day or at any time within the three-month period before that day, companies and societies may continue to carry on business until the day that is one hundred and eighty days after the first day of the first session of the next Parliament.

Marginal note:2001, c. 9, s. 465

201.1 Subsection 707(1) of the Act is replaced by the following:

Marginal note:Sunset provision

  • 707. (1) Subject to subsection (2), insurance holding companies shall not carry on business after April 24, 2007, except that if Parliament dissolves on that day or at any time within the three-month period before that day, insurance holding companies may continue to carry on business until the day that is one hundred and eighty days after the first day of the first session of the next Parliament.

Marginal note:1991, c. 45

Trust and Loan Companies Act

Marginal note:2001, c. 9, s. 484

202. Subsection 20(1) of the Trust and Loan Companies Act is replaced by the following:

Marginal note:Sunset provision

  • 20. (1) Subject to subsection (2), companies shall not carry on business after April 24, 2007, except that if Parliament dissolves on that day or at any time within the three-month period before that day, companies may continue to carry on business until the day that is one hundred and eighty days after the first day of the first session of the next Parliament.