473. A financial services cooperative may not acquire, by itself or jointly with a credit union or a federation belonging to its network, directly or through a partnership or legal person it controls, more than 30% of the assets or the voting rights attached to the shares of a legal person, or more than 30% of the assets or the voting rights attached to the shares of a cooperative or other similar legal person whose head office is situated outside Québec. The voting rights may not enable the cooperative to elect more than 1/3 of the directors of the legal person.
However, a financial services cooperative may acquire all or part of the shares of a legal person in the cases determined by regulation of the Government.
2000, c. 29, s. 473; 2002, c. 70, s. 170.