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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to paragraphs 459(a) and (b) of the Trust and Loan Companies Act, hereby makes the annexed Exemption from Restrictions on Investments (Trust and Loan Companies) Regulations.notenote
Exemption from Restrictions on Investments
1Prescribed circumstances#
For the purposes of subparagraph 453(3)(f)(ii) of the Trust and Loan Companies Act, subsections 453(4) to (6) of the Act do not apply in determining whether a company would be permitted to acquire a substantial investment in an entity under subsection 451(2), paragraph 451(3)(b) or (c) or subsection 451(4) or 453(1) or (2) of the Act.
Coming into Force
*2Coming into force#
These Regulations come into force on the day on which paragraphs 459(a) and (b) of the Trust and Loan Companies Act, as enacted by section 550 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, come into force.
Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.