Contents
- Her Excellency the Governor General in Council, on the rec…
- Interpretation
- Prescribed Manner
- 2 Portion of entity’s activities
- 3 Portion of entity’s business in Canada — par. 522.05(a) of the Act
- 4 Portion of entity’s business outside Canada — par. 522.05(b) of the Act
- 5 Portion of Canadian entity’s activities — paragraphs 522.09(1)(b) and (2)(b) of the Act
- 6 Portion of entity’s business in Canada — par. 522.19(1)(a) of the Act
- 7 Portion of entity’s business outside Canada — par. 522.19(1)(b) of the Act
- Coming into Force
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 978 of the Bank Act, hereby makes the annexed Manner of Calculation (Foreign Banks) Regulations.notenote
Interpretation
1Definitions#
The following definitions apply in these Regulations.
total assets has the same meaning as in subsection 508(5) of the Act. (actif total)
total revenue has the same meaning as in subsection 508(5) of the Act. (recettes d’exploitation totales)
Prescribed Manner
2Portion of entity’s activities#
For the purpose of the definition financial services entity in subsection 507(1) of the Act, the prescribed manner of determining the portion of the activities that an entity engages in that consists of one or more of the activities referred to in paragraphs (a) to (h) of that definition (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
3Portion of entity’s business in Canada — par. 522.05(a) of the Act#
For the purpose of paragraph 522.05(a) of the Act, the prescribed manner of determining the portion of the business in Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
4Portion of entity’s business outside Canada — par. 522.05(b) of the Act#
For the purpose of paragraph 522.05(b) of the Act, the prescribed manner of determining the portion of the business outside Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
5Portion of Canadian entity’s activities — paragraphs 522.09(1)(b) and (2)(b) of the Act#
For the purpose of paragraphs 522.09(1)(b) and (2)(b) of the Act, the prescribed manner of determining the portion of the activities a Canadian entity engages in that consists of the activities referred to in either of those paragraphs (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
6Portion of entity’s business in Canada — par. 522.19(1)(a) of the Act#
For the purpose of paragraph 522.19(1)(a) of the Act, the prescribed manner of determining the portion of the business in Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
7Portion of entity’s business outside Canada — par. 522.19(1)(b) of the Act#
For the purpose of paragraph 522.19(1)(b) of the Act, the prescribed manner of determining the portion of the business outside Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulanote
Coming into Force
*8Coming into force#
These Regulations come into force on the day on which section 978 of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes 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.