Distributing Cooperative Credit Association Regulations

Contents

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 2.1(1) of the Cooperative Credit Associations Act, hereby makes the annexed Distributing Cooperative Credit Association Regulations.^note^note

Interpretation

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In these Regulations, Act means the Cooperative Credit Associations Act.

Distributing

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(1)For the purpose of the Act and subject to subsection (2), any one of the following constitutes a distributing association:

(a)an association that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or

(b)in the case of an association that is not a reporting issuer referred to in paragraph (a), an association

(i)that has filed a prospectus or registration statement under provincial or foreign legislation,

(ii)any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or

(iii)that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii).

(2)An association that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the association is not a reporting issuer for the purposes of the applicable legislation, is not a distributing association for the purpose of subsection (1).

Coming into Force

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These Regulations come into force on the day on which they are registered.

(Paragraph 2(1)(a))

| Column 1 | Column 2Item | Jurisdiction | Legislation1 | Ontario | the definition reporting issuer in subsection 1(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended from time to time2 | Quebec | the definition reporting issuer in sections 5 and 68 of the Securities Act, R.S.Q., c. V-1.1, as amended from time to time3 | Nova Scotia | the definition reporting issuer in paragraph 2(1)(ao) of the Securities Act, R.S.N.S. 1989, c. 418, as amended from time to time4 | New Brunswick | the definition reporting issuer in subsection 1(1) of the Securities Act, S.N.B. 2004, c. S-5.5, as amended from time to time5 | Manitoba | the definition reporting issuer in subsection 1(1) of the Securities Act, C.C.S.M., c. S50, as amended from time to time6 | British Columbia | the definition reporting issuer in subsection 1(1) of the Securities Act, R.S.B.C. 1996, c. 418, as amended from time to time7 | Saskatchewan | the definition reporting issuer in paragraph 2(1)(qq) of The Securities Act, 1988, S.S. 1988-89, c. S-42.2, as amended from time to time8 | Alberta | the definition reporting issuer in paragraph 1(ccc) and section 145 of the Securities Act, R.S.A. 2000, c. S-4, as amended from time to time9 | Newfoundland and Labrador | the definition reporting issuer in paragraph 2(1)(oo) of the Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to time

Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.

Interpretation

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Distributing

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Coming into Force

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(Paragraph 2(1)(a))

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