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Bank Act

Version of section 522.29 from 2008-05-19 to 2019-07-01:


Marginal note:Definitions

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

    affected entity

    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

    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force, was the subject of an order made under subsection 524(1) or former subsection 521(1.06) and whose order has not been revoked; or

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

    • (c) [Repealed, 2007, c. 6, s. 73] (banque étrangère visée)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
  • 2007, c. 6, s. 73
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