S-29.01 - Act respecting trust companies and savings companies

Section 125 Disposition versions

2004-12-17

125. Section 120 does not apply in respect of the following transactions with a financial institution:

(1)  in respect of deposits made at market conditions where the depositary is an institution registered with the Autorité des marchés financiers pursuant to the Deposit Insurance Act (chapter A‐26) or is a member of the Canada Deposit Insurance Corporation;

(2)  in respect of assets consisting of securities in active trading through dealers in securities provided the transfer is made at the market price and that the issuer has not defaulted payment of the interest or dividends on the securities;

(3)  in respect of assets consisting of securities, including leasing contracts, on which the payments of principal and interest are regularly made at each due date;

(4)  in respect of agreements respecting the amalgamation, transfer or purchase of the enterprise of a company for the reorganization of its affairs, with the approval of the Authority, which may impose conditions.

1987, c. 95, s. 125; 2002, c. 45, s. 581; 2004, c. 37, s. 90.

2004-02-01

125. Section 120 does not apply in respect of the following transactions with a financial institution:

(1)  in respect of deposits made at market conditions where the depositary is an institution registered with the Agence nationale d’encadrement du secteur financier pursuant to the Deposit Insurance Act (chapter A-26) or is a member of the Canada Deposit Insurance Corporation;

(2)  in respect of assets consisting of securities in active trading through dealers in securities provided the transfer is made at the market price and that the issuer has not defaulted payment of the interest or dividends on the securities;

(3)  in respect of assets consisting of securities, including leasing contracts, on which the payments of principal and interest are regularly made at each due date;

(4)  in respect of agreements respecting the amalgamation, transfer or purchase of the enterprise of a company for the reorganization of its affairs, with the approval of the Agency, which may impose conditions.

1987, c. 95, s. 125; 2002, c. 45, s. 581.

1988-06-09

125. Section 120 does not apply in respect of the following transactions with a financial institution:

(1)  in respect of deposits made at market conditions where the depositary is an institution registered with the Régie de l’assurance-dépôts du Québec or is a member of the Canada Deposit Insurance Corporation;

(2)  in respect of assets consisting of securities in active trading through dealers in securities provided the transfer is made at the market price and that the issuer has not defaulted payment of the interest or dividends on the securities;

(3)  in respect of assets consisting of securities, including leasing contracts, on which the payments of principal and interest are regularly made at each due date;

(4)  in respect of agreements respecting the amalgamation, transfer or purchase of the enterprise of a company for the reorganization of its affairs, with the approval of the Inspector General, who may impose conditions.

1987, c. 95, s. 125.