Canada Deposit Insurance Corporation Application for Deposit Insurance By-law — 1
1 (1) The following definitions apply in this By-law. Act means the Canada Deposit Insurance Corporation Act . ( Loi ) applicant means a provincial institution that makes an application to the Corporation for deposit insurance. ( demandeur ) associate , when used to indicate a relationship with a person, means (a) a corporation of which that person beneficially owns, directly or indirectly, voting securities that carry more than 10 per cent of the voting rights attached to all of the outstanding voting securities of the corporation; (b) a partner of that person; or (c) a trust or an estate or succession in which that person has a substantial beneficial interest or in respect of which that person serves as a trustee or in a similar capacity. ( associé ) beneficial ownership includes ownership through one or more trustees, legal representatives, agents or mandataries or other intermediaries. ( véritable propriétaire ) common-law partnership means the relationship between two individuals who are cohabiting in a conjugal relationship, having so cohabited for a period of at least one year. ( union de fait ) corporation means an incorporated body wherever or however incorporated. ( personne morale ) direction , in respect of the voting securities of an entity, means the power, alone or in combination with one or more persons, directly or indirectly, to exercise or direct the exercise of the voting rights attached to those securities. ( haute main ) entity means a corporation, a trust, a partnership, a fund, an unincorporated association or organization, Her Majesty in right of Canada or of a province, an agency of Her Majesty in either of those rights, the government of a foreign country or any political subdivision of that government or any agency of that government or of that political subdivision. ( entité ) financial statements includes a balance sheet, a statement of retained earnings, an income statement and a statement of changes in financial position. ( états financiers ) forecast means information in respect of prospective results of the operations and financial position or changes in the financial position of an entity, based on assumptions made in respect of future economic conditions and planned courses of action for a specified period, given management’s judgment as to the most probable set of economic conditions. ( prévisions ) influence , in respect of an entity, means the power to exercise an influence, directly or indirectly and alone or in combination with one or more persons, over the management and policies of the entity, whether through the beneficial ownership of voting securities or otherwise. ( influence ) material , in respect of any matter, means a matter that has or may reasonably be expected to have a bearing on the decision of the Corporation as to whether to approve an applicant for deposit insurance. ( important ) misrepresentation means an untrue statement made in respect of a material fact or a statement that is misleading in the context in which it is made due to the omission of a material fact. ( fausse déclaration ) officer means (a) in respect of a corporation, a chief executive officer, president, vice-president, secretary, controller, treasurer and any other individual designated as an officer of the corporation by by-law or by a resolution of its directors; and (b) in respect of any other entity, any individual designated as an officer of the entity. ( dirigeant ) person means an individual or an entity and includes a legal representative. ( personne ) promoter means a person who (a) acting alone or in conjunction with one or more other persons, participates directly or indirectly in the founding, organizing or substantial reorganizing of the business of an applicant; or (b) in connection with the founding, organizing or substantial reorganizing of the business of an applicant, directly or indirectly receives, in consideration of services or property or both services and property, five per cen