Marginal note:Acquisition of significant interest
875 (1) Subject to section 876, no person, or entity controlled by a person, shall, without the approval of the Minister, purchase or otherwise acquire any share of a bank holding company or purchase or otherwise acquire control of any entity that holds any share of a bank holding company if
(a) the acquisition would cause the person to have a significant interest in any class of shares of the bank holding company; or
(b) if the person has a significant interest in a class of shares of the bank holding company, the acquisition would increase the significant interest of the person in that class of shares.
Marginal note:Amalgamation, etc., constitutes acquisition
(2) If, as a result of an amalgamation, merger or reorganization, the entity that results would have a significant interest in a class of shares of a bank holding company, that entity is deemed to be acquiring a significant interest in that class of shares of the bank holding company through an acquisition for which the approval of the Minister is required.
- 2001, c. 9, s. 183
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