C-67.3 - Act respecting financial services cooperatives

Section 6.12 Disposition versions

2018-07-13

6.12. Economic ties are considered to exist only between

(1)  natural persons between whom family ties are considered to exist;

(2)  a business corporation and

(a)  the person who can exercise 10% or more of the voting rights attached to the shares issued by the corporation; and

(b)  the holder of shares issued by the corporation representing more than 10% of its equity capital;

(3)  a partner in a partnership and the partnership;

(4)  each of the partners in a same partnership;

(5)  a legal person, other than a financial services cooperative, and its directors and officers;

(6)  a financial services cooperative and its officers and managers; and

(7)  a person and a succession or trust in which the person has a substantial interest similar to that of a beneficiary or in respect of which the person serves as liquidator of the succession, trustee or other administrator of the property of others, mandatary or depositary.

Economic ties include any other ties between persons or groups that the Autorité des marchés financiers may determine by regulation.

2018, c. 23, s. 32.