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S-29.02 - Trust Companies and Savings Companies Act
Section 94
Disposition versions
94. Unless the obligations of an authorized Québec trust company under the following contracts are minimal, such contracts must be submitted to its board of directors for approval:
(1) a contract for the acquisition, by the company, of securities issued by a natural person or group that is a restricted party with respect to the company or for the transfer of assets between them; and
(2) a service contract between a company and a natural person or group that is a restricted party with respect to the company.
Before approving such contracts, the board of directors must obtain the opinion of the ethics committee.
In force: 2019-06-13
94. Unless the obligations of an authorized Québec trust company under the following contracts are minimal, such contracts must be submitted to its board of directors for approval:
(1) a contract for the acquisition, by the company, of securities issued by a natural person or group that is a restricted party with respect to the company or for the transfer of assets between them; and
(2) a service contract between a company and a natural person or group that is a restricted party with respect to the company.
Before approving such contracts, the board of directors must obtain the opinion of the ethics committee.
