Cooperative Credit Associations Act (S.C. 1991, c. 48)

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Act current to 2013-04-29 and last amended on 2012-12-19. Previous Versions

269. (1) On application by an association or any person proposing to make a distribution, the Superintendent may, by order, exempt that distribution from the application of any regulations made under subsection 268(2) if the Superintendent is satisfied that the association has disclosed or is about to disclose, in compliance with the laws of the relevant jurisdiction, information relating to the distribution that in form and content substantially complies with the requirements of those regulations.
Marginal note:Conditions
(2) An order under subsection (1) may contain any conditions or limitations that the Superintendent deems appropriate.

270. [Repealed, 2005, c. 54, s. 194]

271. [Repealed, 2005, c. 54, s. 194]

272. [Repealed, 2005, c. 54, s. 194]

273. [Repealed, 2005, c. 54, s. 194]

274. [Repealed, 2005, c. 54, s. 194]

275. [Repealed, 2005, c. 54, s. 194]

276. [Repealed, 2005, c. 54, s. 194]

277. [Repealed, 2005, c. 54, s. 194]

Trust Indentures

278. In this section and sections 279 to 290,

“event of default” « cas de défaut »: “event of default” means, in relation to a trust indenture, an event specified in the trust indenture on the occurrence of which the principal, interest and other moneys payable thereunder become or may be declared to be payable before maturity, but the event is not an event of default until all the conditions set out in the trust indenture in connection with the giving of notice of the event have been satisfied or the period of time for giving the notice has elapsed;
“issuer” « émetteur »: “issuer” means an association that has issued, is about to issue or is in the process of issuing subordinated indebtedness;
“trustee” « fiduciaire »: “trustee” means any person appointed as trustee under the terms of a trust indenture to which an association is a party, and includes any successor trustee;
“trust indenture” « acte de fiducie »: “trust indenture” means any deed, indenture or other instrument, including any supplement or amendment thereto, made by an association under which the association issues subordinated indebtedness and in which a person is appointed as trustee for the holders of the subordinated indebtedness issued thereunder.