575_2004 — Prescribed Types of Businesses Regulation

s. 1 — Interpretation

In this regulation:

s. 1 — Act

Act means the Financial Institutions Act;

s. 1 — factoring

factoring means the business of buying or selling, outright and without recourse, accounts receivable;

s. 1 — financial leasing

financial leasing means leasing property by means of a direct financing lease as defined in the CPA Canada Handbooks, as amended from time to time;

s. 1 — permitted entity

permitted entity means a savings institution, a corporation or entity that offers services that a financial institution may engage in directly under this regulation, or a corporation or entity in which a financial institution may own more than 10% of the voting shares or a 10% interest as specified in section 6.2 of the Investment and Lending Regulation.

s. 2 — Permitted businesses

The following are businesses of a prescribed type for the purpose of section 65 (1) (c) of the Act:

s. 2(a)

investment counseling;

s. 2(b)

portfolio management;

s. 2(c)

the issuing of credit cards and the operation of associated credit card systems;

s. 2(d)

the promotion of merchandise and services to holders of credit cards issued by the financial institution;

s. 2(e)

the acquisition, holding, maintenance, improvement, sale, lease or management of real property, or may act as an agent in the sale or purchase of real property;

s. 2(f)

factoring;

s. 2(g)

financial leasing;

s. 2(h)

the provision of data processing or information services relating to financial institutions;

s. 2(i)

the collection, manipulation and transmission of information that is primarily financial or economic in nature and is provided to permitted entities;

s. 2(j)

business management and advisory services;

s. 2(k)

the business of a financial agent;

s. 2(l)

the sale of

s. 2(l)(i)

tickets, including lottery tickets, for special, temporary and infrequent non-commercial celebrations or projects that are of local, municipal, provincial or national interest, as a non-profit service,

s. 2(l)(ii)

urban transit tickets, and

s. 2(l)(iii)

tickets for a lottery sponsored by the federal government, a provincial government or a municipal government or by an agency of any of those governments;

s. 2(m)

subject to the Act and the regulations, acting as agent for any person for the provision of any service provided by a permitted entity.