(1) This section applies for the purposes of clause (f) of the definition of “financial institution” in section 1 of the Act.
Each of the following entities is prescribed as a financial institution:
A central incorporated under the Credit Unions and Caisses Populaires Act, 2020 or comparable legislation of another jurisdiction of Canada.
A co-operative credit society for which an order has been made under subsection 473 (1) of the Co-operative Credit Associations Act (Canada).
An entity that is,
incorporated or organized under the laws of a jurisdiction outside Canada,
regulated by a jurisdiction outside Canada or by both a jurisdiction outside Canada and a jurisdiction in Canada, and
primarily engaged outside Canada in a business that, if it were carried on in Canada, would be the business of banking, the business of a cooperative credit society, the trust or insurance business or the business of dealing in securities. ;
An entity that is a “foreign institution” for the purposes of the Insurance Companies Act (Canada) is a financial institution for the purposes of the Act other than Part XVII.
Omitted (provides for coming into force of provisions of this Regulation).