108_92 — Credit Union Deposit Acceptance Regulation

s. 1 — Interpretation

In this regulation Act means the Financial Institutions Act.

s. 2 — Deposits from Crown corporations permitted

s. 2(1)

The following persons are a prescribed class of persons, for the purpose of section 82 (1) (i) of the Act:

s. 2(1)(a)

a corporation

s. 2(1)(a)(i)

that, under a statute of Canada, is an agent of the Crown,

s. 2(1)(a)(ii)

of which the government of Canada owns, directly or indirectly, more than 50% of the issued voting shares, or

s. 2(1)(a)(iii)

that is controlled by the government of Canada;

s. 2(1)(b)

a person designated as an agent of the Crown under a statute of the Province or of Canada.

s. 2(2)

For the purpose of subsection (1) a corporation is controlled by the government of Canada if a majority of the members of the corporation or of its board of directors or board of management consists of either or both of the following:

s. 2(2)(a)

persons appointed as members by the Governor General in Council, by a federal minister or under a statute of Canada;

s. 2(2)(b)

public officers acting as such.