Material Percentage Regulations

SOR/2001-400

Registration 4 October, 2001

BANK ACT

Material Percentage Regulations

P.C. 2001-1771 4 October, 2001

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 978^a of the Bank Act^b, hereby makes the annexed Material Percentage Regulations.

^a S.C. 2001, c. 9, s. 183^b S.C. 1991, c. 46

MATERIAL PERCENTAGE REGULATIONS

MATERIAL PERCENTAGE

Material percentage

1. For the purposes of paragraph 508(1)(d) and subparagraph 508(2)(b)(i) of the Bank Act, the material percentage is 35%.

COMING INTO FORCE

Coming into force

2.* These Regulations come into force on the day on which section 508 of the Bank Act, as enacted by section 132 of the Financial Consumer Agency of Canada Act, being chapter 9 of the Statutes of Canada, 2001, comes into force.

*[Note: Regulations in force October 24, 2001, see SI/2001-102.]