Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsections 266(1) a, (3) a and (6) a and 463(1) b of the Cooperative Credit Associations Act c, hereby makes the annexed Civil Remedies (Cooperative Credit Associations) Regulations. S.C. 2005, c. 54, s. 194 S.C. 2005, c. 54, s. 208 S.C. 1991, c. 48
Interpretation
In these Regulations, Act means the Cooperative Credit Associations Act.
Civil Remedies
For the purpose of paragraph 266(1)(f) of the Act, the prescribed percentage of voting rights attached to all of the cooperative credit association’s outstanding shares is 10%.
For the purpose of subsection 266(3) of the Act, take-over bid means a take-over bid under any legislation that is set out in column 2 of the schedule.
For the purpose of paragraph 266(6)(c) of the Act, the prescribed circumstances are that the insider
entered into the purchase or sale of the security as an agent pursuant to a specific unsolicited order to purchase or sell;
made the purchase or sale of the security pursuant to participation in an automatic dividend reinvestment plan, share purchase plan or other similar automatic plan that the insider entered into before the acquisition of the confidential information;
made the purchase or sale of the security to fulfil a legally binding obligation that the insider entered into before the acquisition of the confidential information; or
Coming into Force
These Regulations come into force on the day on which they are registered.
TAKE-OVER BID Column 1 Column 2 Item Jurisdiction Legislation 1 Ontario 2 Quebec 3 Nova Scotia 4 New Brunswick 5 Manitoba 6 British Columbia 7 Saskatchewan 8 Alberta 9 Newfoundland and Labrador 10 Yukon 11 Northwest Territories 12 Nunavut