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Bank Act

Version of section 70 from 2003-01-01 to 2012-12-18:


Marginal note:Holding of own shares

 Except as provided in sections 71 to 74, or unless permitted by the regulations, a bank shall not

  • (a) hold shares of the bank or of any body corporate that controls the bank;

  • (b) hold any ownership interests of any unincorporated entity that controls the bank;

  • (c) permit any of its subsidiaries to hold any shares of the bank or of any body corporate that controls the bank; or

  • (d) permit any of its subsidiaries to hold any ownership interests of any unincorporated entity that controls the bank.


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