Exemption from Approval for Certain Investments in Intragroup Service Entities (Trust and Loan Companies) Regulations

SOR/2003-245TRUST AND LOAN COMPANIES ACT
Registration 2003-06-18
Exemption from Approval for Certain Investments in Intragroup Service Entities (Trust and Loan Companies) Regulations
P.C. 2003-996  2003-06-18Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraph 459(b)Footnote a and section 531Footnote b of the Trust and Loan Companies ActFootnote c, hereby makes the annexed Exemption from Approval for Certain Investments in Intragroup Service Entities (Trust and Loan Companies) Regulations.

Return to footnote aS.C. 2001, c. 9, s. 550
Return to footnote bS.C. 2001, c. 9, s. 569
Return to footnote cS.C. 1991, c. 45

Marginal note:Exemption

1 Subsections 453(5) and (6) of the Trust and Loan Companies Act do not apply to a company’s acquisition of control of, or a company’s acquisition or increase of a substantial investment in, an entity referred to in paragraph 453(4)(b) of that Act if the financial intermediary activities of the entity that expose the entity to material market or credit risk are limited to providing services exclusively to the company or members of the company’s group.

Marginal note:Coming into force

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