Versions of s. 495(3)

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2007-04-20 to present available View Source

~~Notwithstanding~~Despite subsection 489(2), a bank is deemed not to have indirectly entered into a transaction in respect of which this Part applies if the transaction is entered into by aan ~~service corporation, as defined in subsection 464(1),~~entity that is controlled by the bank and the business of which is limited to the activity referred to in paragraph 468(2)(c) and the transaction is on terms and conditions at least as favourable to the bank as market terms and conditions, as defined in subsection 501(2).

Full text

Despite subsection 489(2), a bank is deemed not to have indirectly entered into a transaction in respect of which this Part applies if the transaction is entered into by an entity that is controlled by the bank and the business of which is limited to the activity referred to in paragraph 468(2)(c) and the transaction is on terms and conditions at least as favourable to the bank as market terms and conditions, as defined in subsection 501(2).
2003-01-01 to 2007-04-20 View Source

Notwithstanding subsection 489(2), a bank is deemed not to have indirectly entered into a transaction in respect of which this Part applies if the transaction is entered into by a service corporation, as defined in subsection 464(1), that is controlled by the bank and the transaction is on terms and conditions at least as favourable to the bank as market terms and conditions, as defined in subsection 501(2).