SOR/2006-303200611

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20196

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BANK ACTDistributing Bank and Distributing Bank Holding Company RegulationsP.C.2006-1428200611

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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 2.4(1)a of the Bank Actb, hereby makes the annexed Distributing Bank and Distributing Bank Holding Company Regulations.aS.C. 2005, c. 54, s. 2bS.C. 1991, c. 46Interpretation

1In these Regulations, Act means the Bank Act.

Distributing

2(1)For the purpose of the Act and subject to subsection (2), any one of the following constitutes a distributing bank or a distributing bank holding company:(a)a bank or a bank holding company that is a reporting issuer under any legislation that is set out in column 2 of the schedule; or(b)in the case of a bank or a bank holding company that is not a reporting issuer referred to in paragraph (a), a bank or a bank holding company(i)that has filed a prospectus or registration statement under provincial or foreign legislation,(ii)any of the securities of which are listed and posted for trading on a stock exchange in or outside Canada, or(iii)that is involved in, is formed for, results from or is continued after an amalgamation, a reorganization, an arrangement or a statutory procedure, if one of the participating bodies corporate is an entity referred to in subparagraph (i) or (ii).(2)A bank or a bank holding company that is subject to an exemption under provincial securities legislation, or to an order of the relevant provincial securities regulator that provides that the bank or bank holding company is not a reporting issuer for the purposes of the applicable legislation, is not a distributing bank or a distributing bank holding company for the purpose of subsection (1).SOR/2008-83, s. 1

Coming into Force

3These Regulations come into force on the day on which they are registered.

SCHEDULE(Paragraph 2(1)(a))ItemColumn 1Column 2JurisdictionLegislation1Ontariothe definition reporting issuer in subsection 1(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended from time to time2Quebecthe definition reporting issuer in sections 5 and 68 of the Securities Act, R.S.Q., c. V-1.1, as amended from time to time3Nova Scotiathe definition reporting issuer in paragraph 2(1)(ao) of the Securities Act, R.S.N.S. 1989, c. 418, as amended from time to time4New Brunswickthe definition reporting issuer in subsection 1(1) of the Securities Act, S.N.B. 2004, c. S-5.5, as amended from time to time5Manitobathe definition reporting issuer in subsection 1(1) of the Securities Act, C.C.S.M., c. S50, as amended from time to time6British Columbiathe definition reporting issuer in subsection 1(1) of the Securities Act, R.S.B.C. 1996, c. 418, as amended from time to time7Saskatchewanthe definition reporting issuer in paragraph 2(1)(qq) of The Securities Act, 1988, S.S. 1988-89, c. S-42.2, as amended from time to time8Albertathe definition reporting issuer in paragraph 1(ccc) and section 145 of the Securities Act, R.S.A. 2000, c. S-4, as amended from time to time9Newfoundland and Labradorthe definition reporting issuer in paragraph 2(1)(oo) of the Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to timeSOR/2008-83, s. 2