Versions of s. 381

B-1.01 — Bank Act · 3 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2012-12-19 to present available View Source

Despite section 379, if, as a result of a transfer or issue of shares of a class of ~~shares~~shares, or of membership shares, of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the ~~bank~~bank, or the total number of membership shares registered in the members register of the bank, as the case may be, in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that ~~class,~~class or of the outstanding membership shares, as the case may be, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares or in membership shares of the bank as a result of that issue or transfer of shares or membership shares.

Full text

Despite section 379, if, as a result of a transfer or issue of shares of a class of shares, or of membership shares, of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank, or the total number of membership shares registered in the members register of the bank, as the case may be, in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class or of the outstanding membership shares, as the case may be, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares or in membership shares of the bank as a result of that issue or transfer of shares or membership shares.
2012-12-14 to 2012-12-19 View Source

Despite section 379, if, as a result of a transfer or issue of shares of a class of shares of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank in the name of that person would not exceed ~~five thousand~~5,000 and would not exceed ~~0.1 per cent~~0.1% of the outstanding shares of that class, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the bank as a result of that issue or transfer of shares.

Full text

Despite section 379, if, as a result of a transfer or issue of shares of a class of shares of a bank to a person, other than an eligible agent, the total number of shares of that class registered in the securities register of the bank in the name of that person would not exceed 5,000 and would not exceed 0.1% of the outstanding shares of that class, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the bank as a result of that issue or transfer of shares.
2003-01-01 to 2012-12-14 View Source

Despite section 379, if, as a result of a transfer or issue of shares of a class of shares of a bank to a person, the total number of shares of that class registered in the securities register of the bank in the name of that person would not exceed five thousand and would not exceed 0.1 per cent of the outstanding shares of that class, the bank is entitled to assume that no person is acquiring or increasing a significant interest in that class of shares of the bank as a result of that issue or transfer of shares.