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Vol. 140, No. 36 September 9, 2006 Distributing Bank and Distributing Bank Holding Company RegulationsStatutory authority Bank Act Sponsoring department Department of Finance REGULATORY IMPACT ANALYSIS STATEMENT For the Regulatory Impact Analysis Statement, see the Civil Remedies (Banks and Bank Holding Companies) Regulations. Notice is hereby given that the Governor in Council, pursuant to subsection 2.4(1) (see footnote 1) of the Bank Act (see footnote 2), proposes to make the annexed Distributing Bank and Distributing Bank Holding Company Regulations. Interested persons may make representations with respect to the proposed Regulations within 30 days after the date of publication of this notice. All such representations must cite the Canada Gazette, Part I, and the date of this notice and be addressed to Mr. Gerry Salembier, Financial Sector Policy Branch, Department of Finance, L'Esplanade Laurier, 15th floor, East Tower, 140 O'Connor Street, Ottawa, Ontario K1A 0G5. Ottawa, August 25, 2006
MARY O'NEILL DISTRIBUTING BANK AND DISTRIBUTING BANK HOLDING COMPANY REGULATIONS INTERPRETATION 1. In these Regulations, "Act" means the Bank Act. DISTRIBUTING 2. (1) For the purpose of subsection 2.4(1) of the Act and subject to subsections 2.4(2) and (3) of the Act and subsection (2) of this section, the following constitutes a distributing bank or a distributing bank holding company: (a) a bank or a bank holding company that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or (b) in the case of a bank or a bank holding company that is not a reporting issuer referred to in paragraph (a), a bank or a bank holding company (i) that has filed a prospectus or registration statement under provincial or foreign legislation, (ii) any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or (iii) that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii). (2) A bank or a bank holding company that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the bank or bank holding company is not a reporting issuer for the purposes of the applicable legislation, is not a distributing bank or a distributing bank holding company for the purpose of subsection (1). COMING INTO FORCE 3. These Regulations come into force on the day on which they are registered.
SCHEDULE REPORTING ISSUER
[36-1-o] S.C. 2005, c. 54, s. 2 S.C. 1991, c. 46 |
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