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S-29.02 - Trust Companies and Savings Companies Act
Section 127
Disposition versions
127. For the purposes of section 115.1 and of subparagraph 5 of the first paragraph of section 126, a trust company’s becoming the holder of control of a group or an acquisition or transfer of assets is deemed not to have a significant effect on the trust company if the variation that the operation entails in the value of its assets does not exceed 5%.
The variation in the value of the company’s assets is established in relation to the value of those assets at the end of the fiscal year preceding any of the operations referred to in the first paragraph.
127. For the purposes of subparagraph 5 of the first paragraph of section 126, an acquisition or transfer is deemed to not have a significant effect on a trust company if the resulting variation in the value of its assets does not exceed 5%.
The variation in the value of the company’s assets is established in relation to the value of those assets at the end of the fiscal year preceding the acquisition or transfer.
In force: 2019-06-13
127. For the purposes of subparagraph 5 of the first paragraph of section 126, an acquisition or transfer is deemed to not have a significant effect on a trust company if the resulting variation in the value of its assets does not exceed 5%.
The variation in the value of the company’s assets is established in relation to the value of those assets at the end of the fiscal year preceding the acquisition or transfer.
