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C-4.1 - Savings and Credit Unions Act

Section 260
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260. In no case may the aggregate investment of a credit union under paragraph 5 of section 256 or section 257 exceed, on the date of the investment, 2 % of its assets.
No such investment may be made if it enables a credit union to acquire, directly or indirectly, by itself or with other credit unions or federations of credit unions, more than 30 % of the assets or of the voting rights attached to the shares of a legal person contemplated therein, or enables it to elect more than one-third of the directors of the said legal person.
1988, c. 64, s. 260; 1996, c. 69, s. 84.
260. In no case may the aggregate investment of a credit union under paragraph 5 of section 256 or section 257 exceed, on the date of the investment, 2 % of its assets.
No such investment may be made if it enables a credit union to acquire, directly or indirectly, by itself or with other credit unions or federations of credit unions, more than 30 % of the voting rights attached to the shares of a legal person contemplated therein, or enables it to elect more than one-third of the directors of the said legal person.
1988, c. 64, s. 260.
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