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Manner of Calculation (Foreign Banks) Regulations

Version of section 5 from 2006-03-22 to 2008-05-18:


Marginal note:Portion of Canadian entity’s activities — par. 522.09(b) of the Act

 For the purpose of paragraph 522.09(b) of the Act, the prescribed manner of determining the portion of the activities that a Canadian entity engages in that consists of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formula

A × 100%

where

A
is the greater of the fraction B/C and the fraction D/E,

where

B
is the part of the total assets of the Canadian entity that is in respect of the particular activities,
C
is the total assets of the Canadian entity,
D
is the part of the total revenue of the Canadian entity that is derived from the particular activities, and
E
is the total revenue of the Canadian entity.

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