Equity of a Bank or a Bank Holding Company Regulations

Marginal note:Definitions

• 1 (1) The following definitions apply in these Regulations.

  Act

  Act means the Bank Act. (Loi)

  eligible Canadian financial institution

  eligible Canadian financial institution has the same meaning as in subsection 370(1) of the Act. (institution financière canadienne admissible)

  eligible foreign institution

  eligible foreign institution has the same meaning as in subsection 370(1) of the Act. (institution étrangère admissible)

  trust and loan company

  trust and loan company means a body corporate to which the Trust and Loan Companies Act applies or a trust or loan corporation incorporated by or under an Act of the legislature of a province. (société de fiducie et de prêt)

• Marginal note:Financial statement equity

  (2) For the purposes of these Regulations, the financial statement equity of an entity is the sum of the shareholders’ and members’ equity of the entity, and the minority interests in entities controlled by the entity, as they appear in the consolidated financial statements of the entity.

• Marginal note:Acting in concert

  (3) If two or more persons are deemed under section 9, 9.1, 9.2 or 371 of the Act, for the purposes of Part VII or Division 7 of Part XV of the Act, to be a single person who is acquiring beneficial ownership of the aggregate number of shares or membership shares of a bank, shares of a bank holding company or shares or ownership interests of an entity that are beneficially owned by them, those persons are deemed, for the purposes of these Regulations, to be a single person who has acquired beneficial ownership of the aggregate number of shares or membership shares of the bank, shares of the bank holding company or shares or ownership interests of the entity that are beneficially owned by them.