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Distributing Bank and Distributing Bank Holding Company Regulations (SOR/2006-303)

Regulations are current to 2019-08-28 and last amended on 2008-03-11. Previous Versions

Distributing Bank and Distributing Bank Holding Company Regulations

SOR/2006-303

BANK ACT

Registration 2006-11-28

Distributing Bank and Distributing Bank Holding Company Regulations

P.C. 2006-1428 2006-11-28

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 2.4(1)Footnote a of the Bank ActFootnote b, hereby makes the annexed Distributing Bank and Distributing Bank Holding Company Regulations.

Interpretation

 In these Regulations, Act means the Bank Act.

Distributing

  •  (1) For the purpose of the Act and subject to subsection (2), any one of the following constitutes a distributing bank or a distributing bank holding company:

    • (a) a bank or a bank holding company that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or

    • (b) in the case of a bank or a bank holding company that is not a reporting issuer referred to in paragraph (a), a bank or a bank holding company

      • (i) that has filed a prospectus or registration statement under provincial or foreign legislation,

      • (ii) any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or

      • (iii) that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii).

  • (2) A bank or a bank holding company that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the bank or bank holding company is not a reporting issuer for the purposes of the applicable legislation, is not a distributing bank or a distributing bank holding company for the purpose of subsection (1).

  • SOR/2008-83, s. 1

Coming into Force

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

 
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