Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraph 459(b) a and section 531 b of the Trust and Loan Companies Act c, hereby makes the annexed Exemption from Approval for Certain Investments in Intragroup Service Entities (Trust and Loan Companies) Regulations. S.C. 2001, c. 9, s. 550 S.C. 2001, c. 9, s. 569 S.C. 1991, c. 45
Subsections 453(5) and (6) of the Trust and Loan Companies Act do not apply to a company’s acquisition of control of, or a company’s acquisition or increase of a substantial investment in, an entity referred to in paragraph 453(4)(b) of that Act if the financial intermediary activities of the entity that expose the entity to material market or credit risk are limited to providing services exclusively to the company or members of the company’s group.
These Regulations come into force on the day on which they are registered.