Advanced Search

Footnote ^*13 These Regulations come into force on the day on which section 1995 of the Jobs and Economic Growth Act, chapter 12 of the Statutes of Canada, 2010, comes into force.

[...]

2 These Regulations apply in respect of the conversion of a federal credit union into a bank with common shares under section 216.08 of the Act.

• 1 (1) The following definitions apply in these Regulations.

• (2) In these Regulations, any reference to an estimated value may be read as a reference to a range of estimated values.

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

• [...]

• (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