C-4.1 - Savings and Credit Unions Act

Section 217 Disposition versions

1994-06-17

217. A person is a restricted party with respect to a credit union where that person is

(1)  an officer of the credit union, of the federation with which the credit union is affiliated and of the confederation with which the federation is affiliated;

(2)  a director or officer of La Caisse centrale Desjardins du Québec, where the credit union is affiliated with a federation that is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec;

(3)  a legal person, other than the legal person referred to in the first paragraph of section 469.1, having a majority of directors and officers who are officers of a legal person referred to in paragraph 1;

(4)  the auditor of a credit union, a partner of the auditor and any employee of the auditing service of the federation with which the credit union is affiliated or of the confederation with which the federation is affiliated, where that is the case, who is assigned to the audit of the credit union and who is responsible for the audit report;

(5)  a shareholder holding 10 % or more of the voting rights attached to the shares issued by a legal person controlled by a confederation belonging to the same group as the federation with which the credit union is affiliated or 10 % or more of such shares;

(6)  a credit union or a legal person, other than the legal person referred to in the first paragraph of section 469.1, belonging to the same group as the federation with which the credit union is affiliated and, where applicable, La Caisse centrale Desjardins du Québec;

(7)  a legal person controlled by one or several persons referred to in paragraph 1 or 2;

(8)  any other person whose interests or dealings with a credit union might, in the opinion of the Inspector General, influence the investments or transactions that may be made by that credit union.

1988, c. 64, s. 217; 1994, c. 38, s. 3.

1989-03-15

217. A person is a restricted party with respect to a credit union where that person is

(1)  an officer of the credit union, of the federation with which the credit union is affiliated and of the confederation with which the federation is affiliated;

(2)  a director or officer of La Caisse centrale Desjardins du Québec, where the credit union is affiliated with a federation that is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec;

(3)  a legal person having a majority of directors and officers who are officers of a legal person referred to in paragraph 1;

(4)  the auditor of a credit union, a partner of the auditor and any employee of the auditing service of the federation with which the credit union is affiliated or of the confederation with which the federation is affiliated, where that is the case, who is assigned to the audit of the credit union and who is responsible for the audit report;

(5)  a shareholder holding 10 % or more of the voting rights attached to the shares issued by a legal person controlled by a confederation belonging to the same group as the federation with which the credit union is affiliated or 10 % or more of such shares;

(6)  a credit union or a legal person belonging to the same group as the federation with which the credit union is affiliated and, where applicable, La Caisse centrale Desjardins du Québec;

(7)  a legal person controlled by one or several persons referred to in paragraph 1 or 2;

(8)  any other person whose interests or dealings with a credit union might, in the opinion of the Inspector General, influence the investments or transactions that may be made by that credit union.

1988, c. 64, s. 217.