Hyperlawhypertext legal database Bank Act

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Versions of s. 79(5)

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.

  1. 2012-12-19 to present available View Source
    [Repealed, 2007, c. 6, s. 11]
    Full text

    [Repealed, 2007, c. 6, s. 11]

  2. 2007-04-20 to 2012-12-19 View Source
    The[Repealed, directors2007, ofc. a6, banks. shall not declare and a bank shall not pay a dividend in any financial year without the approval of the Superintendent if, on the day the dividend is declared, the total of all dividends declared by the bank in that year would exceed the aggregate of the bank’s net income up to that day in that year and of its retained net income for the preceding two financial years.11]
    Full text

    [Repealed, 2007, c. 6, s. 11]

  3. 2003-01-01 to 2007-04-20 View Source

    The directors of a bank shall not declare and a bank shall not pay a dividend in any financial year without the approval of the Superintendent if, on the day the dividend is declared, the total of all dividends declared by the bank in that year would exceed the aggregate of the bank’s net income up to that day in that year and of its retained net income for the preceding two financial years.