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Bank Act

Version of section 379 from 2012-12-19 to 2024-05-28:


Marginal note:Constraint on registration

 A bank must not, unless the acquisition of the share or membership share has been approved by the Minister, record in its securities register or members register, as the case may be, a transfer or issue of any share or membership share of the bank to any person or to any entity controlled by a person if

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

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

  • 1991, c. 46, s. 379
  • 1997, c. 15, s. 40
  • 2001, c. 9, s. 98
  • 2010, c. 12, s. 2062

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