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C-3 - Act respecting the caisses d’entraide économique

Section 18
Disposition versions

Full text
18. The available assets of a union less its borrowings from the federation or a financial institution contemplated in section 16, shall always be at least equal to
(a)  ten per cent of the paid-up capital; and
(b)  fifteen per cent of the amounts represented by the savings of the members.
For the purposes of this section, available assets comprise cash in hand, deposits in a bank or an authorized foreign bank listed in Schedule I, II or III of the Bank Act (Statutes of Canada, 1991, chapter 46), with a trust company or the federation or in a savings and credit union other than a caisse d’entraide économique, and the investments contemplated in subparagraphs a and b of section 83 of the Savings and Credit Unions Act.
1974, c. 68, s. 18; 2002, c. 45, s. 245; 2002, c. 70, s. 186.
18. The available assets of a union less its borrowings from the federation or a financial institution contemplated in section 16, shall always be at least equal to
(a)  ten per cent of the paid-up capital; and
(b)  fifteen per cent of the amounts represented by the savings of the members.
For the purposes of this section, available assets comprise cash in hand, deposits in a bank or an authorized foreign bank listed in Schedule I, II or III of the Bank Act (Revised Statutes of Canada, 1985, chapter B-1.01), with a trust company or the federation or in a savings and credit union other than a caisse d’entraide économique, and the investments contemplated in subparagraphs a and b of section 83 of the Savings and Credit Unions Act.
1974, c. 68, s. 18; 2002, c. 45, s. 245.
18. The available assets of a union less its borrowings from the federation or a financial institution contemplated in section 16, shall always be at least equal to
(a)  ten per cent of the paid-up capital; and
(b)  fifteen per cent of the amounts represented by the savings of the members.
For the purposes of this section, available assets comprise cash in hand, deposits in a bank, with a trust company or the federation or in a savings and credit union other than a caisse d’entraide économique, and the investments contemplated in subparagraphs a and b of section 83 of the Savings and Credit Unions Act.
1974, c. 68, s. 18.
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