Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 522.29 from 2003-01-01 to 2008-05-18:

Marginal note:Definitions

  •  (1) The following definitions apply in this Division.

    affected entity

    entité visée

    affected entity means

    • (a) an entity associated with a foreign bank that is an affected foreign bank and that has a financial establishment in Canada; or

    • (b) a prescribed entity associated with a foreign bank referred to in paragraph (c) of the definition “affected foreign bank”. (entité visée)

    affected foreign bank

    banque étrangère visée

    affected foreign bank means a foreign bank that

    • (a) immediately before the day this Division comes into force, was the subject of an order made under subsection 524(1) or former subsection 521(1.06) and whose order has not been revoked;

    • (b) on or before June 13, 2000, controlled a foreign bank subsidiary as defined in former section 2; or

    • (c) for the purposes of subsections 522.32(6) and (7) is a prescribed foreign bank that meets any of the conditions for designation set out in any of paragraphs 508(1)(a) to (d). (banque étrangère visée)

  • Marginal note:Former provision

    (2) Every reference in this Division to a former provision means a reference to that provision as it read immediately before the day this Division comes into force.

  • 2001, c. 9, s. 132

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