Distributing Bank and Distributing Bank Holding Company Regulations
2 (1) For the purpose of subsection 2.4(1) of the Act and subject to subsections 2.4(2) and (3) of the Act and subsection (2) of this section, 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).
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