Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraph 378.4(4)(a) a of the Cooperative Credit Associations Act b, hereby makes the annexed Shared Premises Regulations (Retail Associations). S.C. 2007, c. 6, s. 160 S.C. 1991, c. 48
In this section, member institution has the same meaning as in section 2 of the Canada Deposit Insurance Corporation Act.
A retail association to which paragraph 378.1 (1)(b) or (c) of the Cooperative Credit Associations Act applies may carry on business in Canada on premises that are shared with those of a member institution that is affiliated with the retail association if, on those premises, whenever a request is made in person to open a deposit account with the retail association, the retail association opens the account at a work space that is separate and distinct from every work space at which the member institution carries on business.
These Regulations come into force on the day on which section 160 of An Act to amend the law governing financial institutions and to provide for related and consequential matters, being chapter 6 of the Statutes of Canada, 2007, comes into force, but if they are registered after that day, they come into force on the day on which they are registered.[Note: Regulations in force March 8, 2008, see SI/2008-33.]