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C-4.1 - Savings and Credit Unions Act

Section 393
Disposition versions

Full text
393. A federation may, with the authorization of the Inspector General and for the time and on the conditions he specifies, transfer to another federation affiliated with the same confederation all or part of its rights in the fund referred to in paragraph 5 of section 390.
In such case, the value of the rights transferred shall, for the duration of the transfer and for the purposes of section 390, be deducted from the capital base of the transferring federation and added to the capital base of the federation to which the transfer is made.
Before authorizing the transfer, the Inspector General shall obtain the advice of the confederation.
1988, c. 64, s. 393.
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