I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 27 Disposition versions

2019-06-13

27. A legal person that intends to carry on deposit institution activities, when such activities require the Authority’s authorization, is responsible for filing an application with the Authority for its authorization.

An applicant must, in its application, show that it is able to comply with the applicable provisions of this Act.

It must also include the following information:

(1)  its name, the name it intends to use in Québec if different, the address of its head office and, if the latter is not in Québec, the proposed address of its principal establishment in Québec, if any;

(2)  if applicable, the conditions and restrictions it wishes to have attached to the authorization;

(3)  a description of its financial structure;

(4)  if applicable, the name and address of each holder of a significant interest in its decisions, as well as a description of that interest;

(5)  if the applicant is not constituted under the laws of Québec, the name of the regulatory authority of its domicile (home regulator);

(6)  if applicable, the name and address of the attorney designated under section 26 of the Act respecting the legal publicity of enterprises (chapter P-44.1);

(7)  if it belongs to a financial group, the name under which the group is known, if any, and, if applicable, the names of the other financial institutions that belong to the group; and

(8)  the other information prescribed by regulation of the Authority.

1966-67, c. 73, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 5; 2018, c. 23, s. 353.

2009-12-04

27. (1)  Every institution which applies for a permit shall send its application to the Agency in prescribed form, accompanied by the documents prescribed by the regulations.

(2)  The Authority shall issue the permit if the applicant institution fulfils the conditions prescribed by the regulations.

(3)  The decision must be published in the Authority’s bulletin and in the Gazette officielle du Québec.

1966-67, c. 73, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 5.

2004-12-17

27. (1)  Every institution which applies for a permit shall send its application to the Agency in prescribed form, accompanied by the documents prescribed by the regulations.

(2)  The Authority shall issue the permit if the applicant institution fulfils the conditions prescribed by the regulations.

1966-67, c. 73, s. 27; 2002, c. 45, s. 198; 2004, c. 37, s. 90.

2004-02-01

27. (1)  Every institution which applies for a permit shall send its application to the Agency in prescribed form, accompanied by the documents prescribed by the regulations.

(2)  The Agency shall issue the permit if the applicant institution fulfils the conditions prescribed by the regulations.

1966-67, c. 73, s. 27; 2002, c. 45, s. 198.

1999-04-01

27. (1)  Every institution which applies for a permit shall send its application to the Board in prescribed form, accompanied by the documents prescribed by the regulations.

(2)  The Board shall issue the permit if the applicant institution fulfils the conditions prescribed by the regulations.

1966-67, c. 73, s. 27.