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I-13.2.2 - Deposit Institutions and Deposit Protection Act
Section 40.36
Disposition versions
40.36. If the Authority acts as the founder of a business corporation that will be a trust company or a Québec savings company, sections 162 to 181 of the Trust Companies and Savings Companies Act (chapter S-29.02) do not apply. In addition, if the business corporation is to be a trust company, the Authority shall grant it the authorization required under section 17 of that Act as soon as it is incorporated and without an application being filed by the corporation.
40.36. If the Authority acts as the founder of a business corporation that will be a trust company or a Québec savings company, sections 162 to 181 of the Trust Companies and Savings Companies Act (2018, chapter 23, section 395) do not apply. In addition, if the business corporation is to be a trust company, the Authority shall grant it the authorization required under section 17 of that Act as soon as it is incorporated and without an application being filed by the corporation.
