C-67.3 - Act respecting financial services cooperatives

Section 474 Disposition versions

2018-07-13

474. Despite section 473, a financial services cooperative may acquire and hold up to all the contributed capital securities issued by a legal person or a partnership, up to all the participations in a trust or a share of a right of ownership in cases where the cooperative will be the holder of control of the person, partnership, trust or property after the acquisition and in the cases determined by government regulation.

A credit union that is a member of a federation may not make an acquisition under this section without the federation’s authorization.

2000, c. 29, s. 474; 2002, c. 70, s. 171; 2018, c. 23, s. 291.

2003-06-25

474. Notwithstanding the first paragraph of section 473, a financial services cooperative may acquire directly, by itself or jointly with a credit union or a federation belonging to its network, all or part of the shares of a legal person that only carries on activities similar to those the financial services cooperative is authorized to carry on. The cooperative may also acquire such shares through a holding company established under the laws of Québec for the sole purpose of holding those shares.

2000, c. 29, s. 474; 2002, c. 70, s. 171.

2001-07-01

474. Notwithstanding the first paragraph of section 473, a financial services cooperative may acquire directly, by itself or jointly with a credit union or a federation belonging to its network, all or part of the shares of a legal person carrying on activities that are similar to those of the cooperative. The cooperative may also acquire such shares through a holding company established under the laws of Québec for the sole purpose of holding those shares.

2000, c. 29, s. 474.