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C-41 - Trust Companies Act

Section 25
Disposition versions

Full text
25. Before the issue of a certificate of registration, the trust company must satisfy the requirements of the law, and the statements of its affairs attested by the oath of the president and of the manager of the company must show that it is able to meet its obligations.
The Inspector General may require, for this purpose, any evidence which he may think will give him information as to the financial condition of the company.
In case of renewal of registration, the Inspector General need demand only the report filed in virtue of section 40.
R. S. 1964, c. 287, s. 24; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24; 1982, c. 52, s. 159.
25. Before the issue of a certificate of registration, the trust company must satisfy the requirements of the law, and the statements of its affairs attested by the oath of the president and of the manager of the company must show that it is able to meet its obligations.
The Minister of Financial Institutions and Cooperatives may require, for this purpose, any evidence which he may think will give him information as to the financial condition of the company.
In case of renewal of registration, the Minister of Financial Institutions and Cooperatives need demand only the report filed in virtue of section 40.
R. S. 1964, c. 287, s. 24; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24.
25. Before the issue of a certificate of registration, the trust company must satisfy the requirements of the law, and the statements of its affairs attested by the oath of the president and of the manager of the company must show that it is able to meet its obligations.
The Minister of Consumer Affairs, Cooperatives and Financial Institutions may require, for this purpose, any evidence which he may think will give him information as to the financial condition of the company.
In case of renewal of registration, the Minister of Consumer Affairs, Cooperatives and Financial Institutions need demand only the report filed in virtue of section 40.
R. S. 1964, c. 287, s. 24; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11.
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