Name Use by Non-financial Businesses (Excluded Entities) Regulations

SOR/2001-408

Registration 4 October, 2001

BANK ACT

Name Use by Non-financial Businesses (Excluded Entities) Regulations

P.C. 2001-1779 4 October, 2001

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 983(16)^a of the Bank Act^b, hereby makes the annexed Name Use by Non-financial Businesses (Excluded Entities) Regulations.

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

NAME USE BY NON-FINANCIAL BUSINESSES (EXCLUDED ENTITIES) REGULATIONS

INTERPRETATION

Definitions

1. The following definitions apply in these Regulations.

Act" « Loi »

"Act" means the Bank Act. (Loi).

"exemption order" « arrêté d'exemption »

"exemption order" has the same meaning as in subsection 507(1) of the Act. (arrêté d'exemption)

PRESCRIBED ENTITIES

Prescribed entities

2. For the purpose of paragraph 983(4)(a) of the Act, the following entities are prescribed:

(a) an entity in which a bank has a substantial investment;

(b) a financial institution;

(c) an authorized foreign bank;

(d) any other foreign bank that is not the subject of an exemption order;

(e) an entity that is affiliated with a bank or a bank holding company;

(f) an entity in which a bank holding company has a substantial investment;

(g) an entity that is associated with a foreign bank, within the meaning of section 507 of the Act, if the foreign bank is not the subject of an exemption order;

(h) an entity in which a foreign bank that is not the subject of an exemption order has a substantial investment;

(i) an entity in which another entity has a substantial investment, if the other entity is associated with a foreign bank, within the meaning of section 507 of the Act, and the foreign bank is not the subject of an exemption order;

(j) an entity that has a substantial investment in a bank or a bank holding company; and

(k) an entity that is affiliated with an entity that has a substantial investment in a bank or a bank holding company. SOR/2002-107, s. 1.

COMING INTO FORCE

Coming into force

3.* These Regulations come into force on the day on which subsection 983(2) of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.

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