Bank Act

Version of section 70 from 2003-01-01 to 2012-12-18:

Marginal note:Holding of own shares

70 Except as provided in sections 71 to 74, or unless permitted by the regulations, a bank shall not

(a) hold shares of the bank or of any body corporate that controls the bank;
(b) hold any ownership interests of any unincorporated entity that controls the bank;
(c) permit any of its subsidiaries to hold any shares of the bank or of any body corporate that controls the bank; or
(d) permit any of its subsidiaries to hold any ownership interests of any unincorporated entity that controls the bank.

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