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Total Assets for Public Holding Requirements (Trust and Loan Companies) Regulations (SOR/2001-435)

Regulations are current to 2023-09-13

Total Assets for Public Holding Requirements (Trust and Loan Companies) Regulations

SOR/2001-435

TRUST AND LOAN COMPANIES ACT

Registration 2001-10-04

Total Assets for Public Holding Requirements (Trust and Loan Companies) Regulations

P.C. 2001-1806  2001-10-04

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 531Footnote a of the Trust and Loan Companies ActFootnote b, hereby makes the annexed Total Assets for Public Holding Requirements (Trust and Loan Companies) Regulations.

Total Assets

Definition of total assets

 For the purpose of subsection 380(3) of the Trust and Loan Companies Act, total assets, in respect of a company, at a particular time, means the total value of the assets that would be reported on its balance sheet, prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 313(4) of that Act.

Coming into Force

Marginal note:Coming into force

Footnote * These Regulations come into force on the day on which section 3 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.

 
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