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Versions of s. 508(3)

B-1.01 — Bank Act · 2 versions · View current text

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

  1. 2008-03-08 to present available View Source
    ADespite foreignsubsection bank(2), the Minister may, subject to any terms and conditions that washe designatedor undershe subsectionconsiders 521(1.06)appropriate, asexempt an entity from being a member of a material banking group if neither of the ratios determined in accordance with that subsection readin immediatelyrelation beforeto that entity exceeds the comingpercentage intoprescribed forcefor the purposes of this subsection and whose designation has not been revoked is deemed to be the subject of a designation order.subsection.
    Full text

    Despite subsection (2), the Minister may, subject to any terms and conditions that he or she considers appropriate, exempt an entity from being a member of a material banking group if neither of the ratios determined in accordance with that subsection in relation to that entity exceeds the percentage prescribed for the purposes of this subsection.

  2. 2003-01-01 to 2008-03-08 View Source

    A foreign bank that was designated under subsection 521(1.06) as that subsection read immediately before the coming into force of this subsection and whose designation has not been revoked is deemed to be the subject of a designation order.