Affiliated Persons (Banks) Regulations

3 For the purposes of section 162 of the Act, a natural person is affiliated with a bank where the person

• (a) is an officer or employee of the bank or of an affiliate of the bank;

• (b) has a significant interest in a class of shares or in membership shares of the bank;

• (c) has a substantial investment in an affiliate of the bank;

• (d) is a significant borrower in respect of the bank;

• (e) is an officer or employee of an entity that is a significant borrower in respect of the bank;

• (f) controls one or more entities of which the total indebtedness to the bank or to an affiliate of the bank would cause those entities, if treated as a single entity, to be a significant borrower of the bank;

• (g) provides goods or services to the bank, or is a partner or an employee in a partnership that provides goods or services to the bank or an officer or employee of, or a person who has a substantial investment in, a body corporate that provides goods or services to the bank, if the total annual billings to the bank in respect of the goods and services provided exceeds ten per cent of the total annual billings of the person, partnership or body corporate, as the case may be;

• (h) has a loan that is not in good standing from the bank or from an affiliate of the bank or is a director, an officer or an employee of, or a person who controls, an entity that has a loan that is not in good standing from the bank or from an affiliate of the bank; or

• (i) is the spouse or common-law partner of a person described in any of paragraphs (a) to (h).