Eligible Financial Contract Regulations (Companies’ Creditors Arrangement Act)
P.C. 2007-1732 2007-11-15
Her Excellency the Governor General in Council, on the recommendation of the Minister of Industry, pursuant to subsection 18(1) of the Companies’ Creditors Arrangement Act, hereby makes the annexed Eligible Financial Contract General Rules (Companies’ Creditors Arrangement Act).
1 The following definitions apply in these Regulations.
- derivatives agreement
derivatives agreement means a financial agreement whose obligations are derived from, referenced to, or based on, one or more underlying reference items such as interest rates, indices, currencies, commodities, securities or other ownership interests, credit or guarantee obligations, debt securities, climatic variables, bandwidth, freight rates, emission rights, real property indices and inflation or other macroeconomic data and includes
- financial intermediary
financial intermediary means
- SOR/2009-223, s. 2;
- SOR/2016-144, s. 2(F).
(a) a derivatives agreement, whether settled by payment or delivery, that
(b) an agreement to
(i) borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities, cash or cash equivalents,
(ii) clear or settle securities, futures, options or derivatives transactions, or
(iii) act as a depository for securities;
(c) a repurchase, reverse repurchase or buy-sellback agreement with respect to securities or commodities;
(d) a margin loan in so far as it is in respect of a securities account or futures account maintained by a financial intermediary;
(e) any combination of agreements referred to in any of paragraphs (a) to (d);
(f) a master agreement in so far as it is in respect of an agreement referred to in any of paragraphs (a) to (e);
(g) a master agreement in so far as it is in respect of a master agreement referred to in paragraph (f);
(h) a guarantee of, or an indemnity or reimbursement obligation with respect to, the liabilities under an agreement referred to in any of paragraphs (a) to (g); and
(i) an agreement relating to financial collateral, including any form of security or security interest in collateral and a title transfer credit support agreement, with respect to an agreement referred to in any of paragraphs (a) to (h).
- SOR/2009-223, s. 3.
3 [Repealed, SOR/2009-223, s. 4]
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