Bank Act

Marginal note:Definitions

• 370 (1) In this Part,

  agent

  mandataire

  agent means

  • (a) in relation to Her Majesty in right of Canada or of a province, any agent of Her Majesty in either of those rights and includes a municipal or public body empowered to perform a function of government in Canada or any entity empowered to perform a function or duty on behalf of Her Majesty in either of those rights, but does not include

    • (i) an official or entity performing a function or duty in connection with the administration or management of the estate or property of a natural person,

    • (ii) an official or entity performing a function or duty in connection with the administration, management or investment of a fund established to provide compensation, hospitalization, medical care, annuities, pensions or similar benefits to natural persons, or moneys derived from such a fund, or

    • (iii) the trustee of any trust for the administration of a fund to which Her Majesty in either of those rights contributes and of which an official or entity that is an agent of Her Majesty in either of those rights is a trustee, and

  • (b) in relation to the government of a foreign country or any political subdivision thereof, a person empowered to perform a function or duty on behalf of the government of the foreign country or political subdivision, other than a function or duty in connection with the administration or management of the estate or property of a natural person; (mandataire)

  eligible Canadian financial institution

  institution financière canadienne admissible

  eligible Canadian financial institution means a Canadian financial institution that is a body corporate and that is widely held; (institution financière canadienne admissible)

  eligible financial institution

  institution financière admissible

  eligible financial institution means an eligible Canadian financial institution or an eligible foreign institution; (institution financière admissible)

  eligible foreign institution

  institution étrangère admissible

  eligible foreign institution means

  • (a) a foreign bank that, in the opinion of the Minister, after consultation with the Superintendent, is regulated as or like a bank, according to the jurisdiction under whose laws it was incorporated or in any jurisdiction in which it carries on business, or

  • (b) a foreign institution that, in the opinion of the Minister,

    • (i) is, with respect to its provision of financial services, regulated in the jurisdiction under whose laws it was incorporated or in any jurisdiction in which it carries on business, and

    • (ii) is widely held; (institution étrangère admissible)

  foreign institution

  institution étrangère

  foreign institution means an entity that is

  • (a) engaged in the trust, loan or insurance business, the business of a cooperative credit society or the business of dealing in securities, and

  • (b) incorporated or formed otherwise than by or under an Act of Parliament or the legislature of a province. (institution étrangère)

• (2) to (4) [Repealed, 2001, c. 9, s. 96]