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S-29.02 - Trust Companies and Savings Companies Act
Section 178
Disposition versions
178. The organization of a regulated corporation concludes when the Authority, in accordance this Act, grants its authorization to carry on trust company activities, when it grants its authorization, under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2), to carry on financial institution activities, or when it refuses to grant such authorizations or when such authorizations have not been obtained on the expiry of a one-year period after the corporation became regulated by this Title without there having been a refusal to grant it.
The Minister may, on the corporation’s application, extend its organization for a period not exceeding one year.
In force: 2019-06-13
178. The organization of a regulated corporation concludes when the Authority, in accordance this Act, grants its authorization to carry on trust company activities, when it grants its authorization, under the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2), to carry on financial institution activities, or when it refuses to grant such authorizations or when such authorizations have not been obtained on the expiry of a one-year period after the corporation became regulated by this Title without there having been a refusal to grant it.
The Minister may, on the corporation’s application, extend its organization for a period not exceeding one year.
