Definition of member institution

• 1 (1) In this section, member institution has the same meaning as in section 2 of the Canada Deposit Insurance Corporation Act.

• Marginal note:Shared premises

  (2) A company to which paragraph 413(1)(b) or (c) of the Trust and Loan Companies Act applies may carry on business in Canada on premises that are shared with those of a member institution that is affiliated with the company if, on those premises, whenever a request is made in person to open a deposit account with the company, the company opens the account at a work space that is separate and distinct from every work space at which the member institution carries on business.

Marginal note:Coming into force

Footnote ^*2 These Regulations come into force on the day on which section 358 of An Act to amend the law governing financial institutions and to provide for related and consequential matters, being chapter 6 of the Statutes of Canada, 2007, comes into force, but if they are registered after that day, they come into force on the day on which they are registered.

• Return to footnote ^*[Note: Regulations in force March 8, 2008, see SI/2008-33.]