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Exemption from Restrictions on Investments (Banks, Bank Holding Companies and Foreign Banks) Regulations (SOR/2001-383)

Regulations are current to 2019-08-28 and last amended on 2008-05-19. Previous Versions

Exemption from Restrictions on Investments (Banks, Bank Holding Companies and Foreign Banks) Regulations

SOR/2001-383

BANK ACT

Registration 2001-10-04

Exemption from Restrictions on Investments (Banks, Bank Holding Companies and Foreign Banks) Regulations

P.C. 2001-1754 2001-10-04

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraphs 474(a)Footnote a and (b)Footnote a and 522.23(b)Footnote b of the Bank ActFootnote c, hereby makes the annexed Exemption from Restrictions on Investments (Banks, Bank Holding Companies and Foreign Banks) Regulations.

Exemption from Restrictions on Investments

Marginal note:Prescribed circumstances — banks and bank holding companies

 For the purposes of subparagraphs 468(3)(d)(ii) and 930(3)(d)(ii) of the Bank Act, subsections 468(4) to (6) of the Act do not apply in determining whether a bank would be permitted to acquire a substantial investment in an entity under subsection 466(2), paragraph 466(3)(b) or (c) or subsection 466(4) or 468(1) or (2) of the Act.

Marginal note:Prescribed circumstances — foreign banks and entities associated with foreign banks

 For the purpose of subparagraph 522.08(2)(d)(ii) of the Bank Act, subsection 522.22(1) of the Act does not apply in determining whether a foreign bank or an entity associated with a foreign bank would be permitted to acquire or hold control of, or a substantial investment in, a Canadian entity under section 522.07, 522.08, any of paragraphs 522.1(a) or (c) to (e) or Division 8 of Part XII of the Act.

  • SOR/2008-160, s. 1

Coming into Force

Marginal note:Coming into force

Footnote * These Regulations come into force on the day on which paragraphs 474(a) and (b) and 522.23(b) of the Bank Act, as enacted by sections 127 and 132 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, come into force.

 
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