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Bank Holding Company Proposal Regulations (SOR/2004-199)

Regulations are current to 2020-10-21 and last amended on 2010-03-25. Previous Versions

Amendment

 Any amendment to a proposal must be submitted to the Minister for approval.

Completion of Transactions

 Subject to section 18, all transactions and actions referred to in section 2 in relation to a proposal shall be done within two years after the day on which the first transaction or action is completed.

Extension

  •  (1) The Minister may, on request, before the end of the period specified in section 17, extend that period on any terms and conditions that the Minister considers necessary.

  • (2) In a request for an extension, there shall be a description of why it is impracticable to complete all transactions and actions referred to in section 2 in relation to a proposal within the period referred to in section 17.

Coming into Force

 These Regulations come into force on the day on which they are registered.

 
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