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Bank Act

Version of section 376.2 from 2012-12-19 to 2024-11-26:


Marginal note:Prohibition against significant interest

  •  (1) No person who has a significant interest in any class of shares of a bank may have a significant interest in any class of shares of any widely held bank with equity of twelve billion dollars or more, or of any widely held bank holding company with equity of twelve billion dollars or more, that controls the bank.

  • Marginal note:Exception — federal credit union

    (2) Subsection (1) does not apply in respect of a person who has a significant interest in any class of shares of a federal credit union.

  • 2001, c. 9, s. 98
  • 2007, c. 6, s. 132
  • 2010, c. 12, s. 2058
  • 2012, c. 5, s. 18

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