S-29.02 - Trust Companies and Savings Companies Act

Section 280 Disposition versions

2019-06-13

280. No one may, if not covered by the second paragraph, hold themselves out as a trust company or use a name that includes the word “fidéicommis” or, subject to article 1266 of the Civil Code, “fiducie” or “trust”.

The following may hold themselves out as a trust company or use a name that includes a word specified in the first paragraph:

(1)  an authorized trust company;

(2)  a regulated corporation applying for the Authority’s authorization to carry on trust company activities; and

(3)  a legal person constituted under the laws of a jurisdiction other than Québec that is authorized under those laws to carry on trust company activities and that exercises rights and performs obligations in Québec without such exercise and performance constituting trust company activities.

2018, c. 23, s. 395.

Not in force

In force: 2019-06-13

280. No one may, if not covered by the second paragraph, hold themselves out as a trust company or use a name that includes the word “fidéicommis” or, subject to article 1266 of the Civil Code, “fiducie” or “trust”.

The following may hold themselves out as a trust company or use a name that includes a word specified in the first paragraph:

(1)  an authorized trust company;

(2)  a regulated corporation applying for the Authority’s authorization to carry on trust company activities; and

(3)  a legal person constituted under the laws of a jurisdiction other than Québec that is authorized under those laws to carry on trust company activities and that exercises rights and performs obligations in Québec without such exercise and performance constituting trust company activities.

2018, c. 23, s. 395.