Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 379 from 2003-01-01 to 2012-12-18:

Marginal note:Constraint on registration

 No bank shall, unless the acquisition of the share has been approved by the Minister, record in its securities register a transfer or issue of any share of the bank to any person or to any entity controlled by a person if

  • (a) the transfer or issue of the share would cause the person to have a significant interest in any class of shares of the bank; or

  • (b) where the person has a significant interest in a class of shares of the bank, the transfer or issue of the share would increase the significant interest of the person in that class of shares.

  • 1991, c. 46, s. 379
  • 1997, c. 15, s. 40
  • 2001, c. 9, s. 98

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