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D-9.2 - Act respecting the distribution of financial products and services

Section 147
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147. For the purposes of this chapter,
— “financial institution” means a financial institution other than an insurer engaging exclusively in the business of reinsurance;
— “firm” means a firm registered as a damage insurance brokerage firm;
— “financial group” means a group made up of all or some of the following legal persons: a federation governed by the Act respecting financial services cooperatives (chapter C-67.3) and the legal persons that are members of the federation.
Any other group of legal persons composed of a financial institution and a legal person affiliated with the financial institution is also a financial group;
— “affiliated legal person” means a legal person that is controlled by or that controls another legal person.
A legal person affiliated with another legal person is deemed to be affiliated with any other legal person affiliated with that legal person;
— “controlled legal person” means a legal person in which more than 50% of the voting rights attached to its shares are held directly or indirectly by another legal person, or a majority of the directors of which can be elected by another legal person;
— “legal person related to a financial institution” or “legal person related to a financial group” means a legal person in which more than 20% of the shares or voting rights attached to the shares are held directly or indirectly by financial institutions or financial groups.
1998, c. 37, s. 147; 2000, c. 29, s. 639; 2018, c. 23, s. 550.
147. For the purposes of this chapter,
— “financial institution” means a financial institution other than an insurer engaging exclusively in the business of reinsurance;
— “firm” means a firm registered for the damage insurance sector that acts through a damage insurance broker and does not engage exclusively in the business of reinsurance;
— “financial group” means a group made up of all or some of the following legal persons: a federation governed by the Act respecting financial services cooperatives (chapter C-67.3) and the legal persons that are members of the federation.
Any other group of legal persons composed of a financial institution and a legal person affiliated with the financial institution is also a financial group;
— “affiliated legal person” means a legal person that is controlled by or that controls another legal person.
A legal person affiliated with another legal person is deemed to be affiliated with any other legal person affiliated with that legal person;
— “controlled legal person” means a legal person in which more than 50% of the voting rights attached to its shares are held directly or indirectly by another legal person, or a majority of the directors of which can be elected by another legal person;
— “legal person related to a financial institution” or “legal person related to a financial group” means a legal person in which more than 20% of the shares or voting rights attached to the shares are held directly or indirectly by financial institutions or financial groups.
1998, c. 37, s. 147; 2000, c. 29, s. 639.
147. For the purposes of this chapter,
— “financial institution” means a financial institution other than an insurer engaging exclusively in the business of reinsurance;
— “firm” means a firm registered for the damage insurance sector that acts through a damage insurance broker and does not engage exclusively in the business of reinsurance;
— “financial group” means the group composed of all or some of the following legal persons: a confederation governed by the Savings and Credit Unions Act (chapter C‐4.1), the federations that are members thereof, legal persons affiliated with the confederation or federations, and any other legal person that is a member thereof.
Any other group of legal persons composed of a financial institution and a legal person affiliated with the financial institution is also a financial group;
— “affiliated legal person” means a legal person that is controlled by or that controls another legal person.
A legal person affiliated with another legal person is deemed to be affiliated with any other legal person affiliated with that legal person;
— “controlled legal person” means a legal person in which more than 50% of the voting rights attached to its shares are held directly or indirectly by another legal person, or a majority of the directors of which can be elected by another legal person;
— “legal person related to a financial institution” or “legal person related to a financial group” means a legal person in which more than 20% of the shares or voting rights attached to the shares are held directly or indirectly by financial institutions or financial groups.
1998, c. 37, s. 147.
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