Federal Credit Union Conversion Regulations (SOR/2012-268)

7 The Superintendent may, prior to approving the conversion proposal, including an amended conversion proposal,

• (a) specify the day as of which the value of the converting credit union, the market value of its membership shares and the market value of its shares, if any, must be estimated for the purposes of subparagraph 6(k)(ii);

• (b) require a converting credit union to hold one or more information sessions for its members and shareholders, if any, and set the rules under which the information sessions must be held;

• (c) direct the converting credit union to take other measures to assist its members and shareholders, if any, in forming a reasoned judgment on the conversion proposal, including by providing additional valuations, fairness opinions and other information further to that required elsewhere in these Regulations; and

• (d) exempt a converting credit union, on any terms and conditions that the Superintendent considers appropriate, from any of the requirements of subparagraphs 6(k)(iv) and (v).