Trust and Loan Companies Act

Marginal note:Main business

• 409 (1) Subject to this Act, a company shall not engage in or carry on any business other than such business generally as appertains to the business of providing financial services.

• Marginal note:Idem

  (2) For greater certainty, a company may

  • (a) subject to section 412, act as a trustee;

  • (b) act as a financial agent, receiver, liquidator or sequestrator;

  • (c) provide investment counselling services and portfolio management services; and

  • (d) issue payment, credit or charge cards and, in cooperation with others including other financial institutions, operate a payment, credit or charge card plan.