Marginal note:Significant interest
8 (1) A person has a significant interest in a class of shares of a bank or a bank holding company if the aggregate of
(a) any shares of that class beneficially owned by the person, and
(b) any shares of that class beneficially owned by entities controlled by the person
exceeds 10 per cent of all of the outstanding shares of that class of shares of the bank or bank holding company.
Marginal note:Increasing significant interest
(2) A person who has a significant interest in a class of shares of a bank or bank holding company increases that significant interest in the class of shares if the person or any entity controlled by the person
(a) acquires beneficial ownership of additional shares of that class, or
(b) acquires control of any entity that beneficially owns shares of that class,
in such number as to increase the percentage of shares of that class that are beneficially owned by the person and by any entities controlled by the person.
- 1991, c. 46, s. 8
- 2001, c. 9, s. 40
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