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V-1.1 - Securities Act

Section 156
Disposition versions

Full text
156. (Repealed).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402; 1988, c. 64, s. 563, s. 587; 1999, c. 40, s. 327; 2000, c. 29, s. 678; 2002, c. 45, s. 628; 2004, c. 37, s. 13.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank or an authorized foreign bank listed in Schedule I, II or III to the Bank Act (Statutes of Canada, 1991, chapter 46);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S‐29.01) and a loan and investment society registered in accordance with the Loan and Investment Societies Act (chapter S‐30);
(6)  a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C‐67.3);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A‐32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S‐25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402; 1988, c. 64, s. 563, s. 587; 1999, c. 40, s. 327; 2000, c. 29, s. 678; 2002, c. 45, s. 628.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S-29.01) and a loan and investment society registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402; 1988, c. 64, s. 563, s. 587; 1999, c. 40, s. 327; 2000, c. 29, s. 678.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S-29.01) and a loan and investment society registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union, a federation or a confederation within the meaning of the Savings and Credit Unions Act (chapter C-4.1);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402; 1988, c. 64, s. 563, s. 587; 1999, c. 40, s. 327.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S-29.01) and a loan and savings society registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union, a federation or a confederation within the meaning of the Savings and Credit Unions Act (chapter C-4.1);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402; 1988, c. 64, s. 563, s. 587.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S-29.01) and a loan and savings society registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union or a federation within the meaning of the Savings and Credit Unions Act (chapter C-4);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Act respecting banks and banking (Statutes of Canada, 1980-81-82, chapter 40) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a savings company holding a licence under the Act respecting trust companies and savings companies (chapter S-29.01) and a loan and savings society registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union or a federation within the meaning of the Savings and Credit Unions Act (chapter C-4);
(7)  a trust company licensed under the Act respecting trust companies and savings companies;
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19; 1987, c. 95, s. 402.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  (paragraph repealed);
(4)  a bank governed by the Act respecting banks and banking (Statutes of Canada, 1980-81-82, chapter 40) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a loan and investment society incorporated under a statute of Québec or registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union or a federation within the meaning of the Savings and Credit Unions Act (chapter C-4);
(7)  a trust company registered under the Trust Companies Act (chapter C-41);
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156; 1987, c. 40, s. 19.
156. Each of the following persons is exempt from registration as an adviser or the representative of an adviser provided he gives advice solely as an ancillary activity and, in the case of the persons contemplated in paragraph 1, provided he derives no remuneration therefrom separate from what he ordinarily receives in carrying on his profession:
(1)  a person practising the profession of advocate, notary or accountant, or any other profession determined by regulation, so long as he does not recommend to his clients an enterprise in which he or an associate has an interest;
(2)  a dealer or his representative;
(3)  a person who advises the public through the media, provided he does not own securities in the company concerned;
(4)  a bank governed by the Act respecting banks and banking (Statutes of Canada, 1980-81-82, chapter 40) or the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);
(5)  a loan and investment society incorporated under a statute of Québec or registered in accordance with the Loan and Investment Societies Act (chapter S-30);
(6)  a savings and credit union or a federation within the meaning of the Savings and Credit Unions Act (chapter C-4);
(7)  a trust company registered under the Trust Companies Act (chapter C-41);
(8)  an insurance company holding the licence prescribed under the Act respecting insurance (chapter A-32);
(9)  a société d’entraide économique or the Fédération des sociétés d’entraide économique du Québec governed by the Act respecting the sociétés d’entraide économique (chapter S-25.1).
1982, c. 48, s. 156.
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