Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 749 from 2007-04-20 to 2022-08-08:

Marginal note:Minimum number of directors

  •  (1) A bank holding company shall have at least seven directors.

  • Marginal note:Residency requirement

    (2) At least one half of the directors of a bank holding company that is a subsidiary of a foreign bank and a majority of the directors of any other bank holding company must be, at the time of each director’s election or appointment, resident Canadians.

  • 2001, c. 9, s. 183
  • 2007, c. 6, s. 114
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