C-67.3 - Act respecting financial services cooperatives

Section 6 Disposition versions

2018-07-13

6. The mission of a financial services cooperative that is a federation is, in addition,

(1)  to protect the interests of credit unions, foster the fulfilment of their mission and promote their development;

(2)  to act as a control and supervisory body over credit unions and over partnerships and legal persons controlled by credit unions, to the extent provided for in this Act;

(3)  (subparagraph repealed);

(4)  to see to the orderly development of the network while preserving the common characteristic shared by the members of a credit union;

(5)  to define common objectives for the financial group and to coordinate its activities.

The provisions of this Act imposing a requirement to comply with a by‑law or standard of a federation do not apply to a credit union that is not a member of a federation.

2000, c. 29, s. 6; 2003, c. 20, s. 1; 2018, c. 23, s. 31.

2003-12-18

6. The mission of a financial services cooperative that is a federation is, in addition,

(1)  to protect the interests of credit unions, foster the fulfilment of their mission and promote their development;

(2)  to act as a control and supervisory body over credit unions and over partnerships and legal persons controlled by credit unions, to the extent provided for in this Act;

(3)  to provide services to credit unions and their members, participating auxiliary members and their members, group members and, as an ancillary activity, to any other person or partnership;

(4)  to see to the orderly development of the network while preserving the common characteristic shared by the members of a credit union, whether the common characteristic is determined on the basis of such a criterion as territory, employment or occupation;

(5)  to define common objectives for the group and to coordinate its activities.

2000, c. 29, s. 6; 2003, c. 20, s. 1.

2001-07-01

6. The mission of a financial services cooperative that is a federation is, in addition,

(1)  to protect the interests of credit unions, foster the fulfilment of their mission and promote their development;

(2)  to act as a control and supervisory body over credit unions and over partnerships and legal persons controlled by credit unions, to the extent provided for in this Act;

(3)  to provide services to credit unions, credit union members, group members and, as an ancillary activity, to any other person or partnership;

(4)  to see to the orderly development of the network while preserving the common characteristic shared by the members of a credit union, whether the common characteristic is determined on the basis of such a criterion as territory, employment or occupation;

(5)  to define common objectives for the group and to coordinate its activities.

2000, c. 29, s. 6.