Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 891 from 2007-04-20 to 2012-05-23:

Marginal note:When approval not required

  •  (1) Despite sections 875 and 887, the approval of the Minister is not required if

    • (a) the Superintendent has, by order, directed the bank holding company to increase its capital and shares of the bank holding company are issued and acquired in accordance with the terms and conditions, if any, that may be specified in the order; or

    • (b) a person who controls, within the meaning of paragraph 3(1)(a), the bank holding company acquires additional shares of the bank holding company.

  • Marginal note:Exception

    (2) Paragraph (1)(a) does not apply in respect of a bank holding company with equity of eight billion dollars or more.

  • 2001, c. 9, s. 183
  • 2007, c. 6, s. 132

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