s. 1
— Definition of "officer"
In the Credit Union Incorporation Act, the Financial Institutions Act and the Business Corporations Act, as it applies to a financial institution, officer of a corporation includes a credit officer, an employee of the corporation who has the authority to approve loans and an employee of the corporation who reports directly to the directors.
s. 2
— Definition of "carry on deposit business"
In the Financial Institutions Act carry on deposit business does not include raise money through the issue of security instruments for the purpose of business other than deposit business.