Cooperative Credit Associations Act — C-41.01 2
urities underwriter means a person who, as principal, agrees to purchase securities with a view to the distribution of the securities or who, as agent for a body corporate or other person, offers for sale or sells securities in connection with a distribution of the securities, and includes a person who participates, directly or indirectly, in a distribution of securities, other than a person whose interest in the distribution of securities is limited to receiving a distributor’s or seller’s commission payable by a securities underwriter; ( souscripteur à forfait ) security means (a) in relation to a body corporate, a share of any class of shares of the body corporate or a debt obligation of the body corporate, and includes a warrant of the body corporate, but does not include a deposit with a financial institution or any instrument evidencing such a deposit or, for greater certainty, a membership share, and (b) in relation to any other entity, any ownership interest in or debt obligation of the entity; ( titre ou valeur mobilière ) security interest means an interest in or charge on property by way of mortgage, lien, pledge or otherwise taken by a creditor or guarantor to secure the payment or performance of an obligation; ( sûreté ) send includes deliver; ( envoyer ) series , in respect of shares, means a division of a class of shares; ( série ) share does not include a membership share; ( Version anglaise seulement ) significant interest means a significant interest determined in accordance with section 9; ( intérêt substantiel ) special resolution means a resolution passed by a majority of not less than two thirds of the votes cast by or on behalf of the persons who voted in respect of that resolution; ( résolution extraordinaire ) subordinated indebtedness means an instrument evidencing an indebtedness of an association that by its terms provides that the indebtedness will, in the event of the insolvency or winding-up of the association, be subordinate in right of payment to all deposit liabilities of the association and all other liabilities of the association except those that, by their terms, rank equally with or are subordinate to such indebtedness; ( titre secondaire ) subsidiary means an entity that is a subsidiary of another entity within the meaning of section 5; ( filiale ) substantial investment means a substantial investment determined in accordance with section 12; ( intérêt de groupe financier ) Superintendent means the Superintendent of Financial Institutions appointed pursuant to the Office of the Superintendent of Financial Institutions Act ; ( surintendant ) trade , in respect of securities, means any sale or disposition of securities for valuable consideration; ( opération ) transfer , in respect of securities, includes a transmission by operation of law; ( transfert ) voting share means a share of any class of shares of a body corporate carrying voting rights under all circumstances or by reason of an event that has occurred and is continuing or by reason of a condition that has been fulfilled. ( action avec droit de vote ) 1991, c. 48, ss. 2, 496, 497; 1992, c. 51, s. 31; 1998, c. 30, ss. 13(F), 15(E); 1999, c. 3, s. 24, c. 28, s. 115; 2000, c. 12, s. 84; 2001, c. 9, s. 248, c. 27, s. 234; 2002, c. 7, s. 136(E); 2005, c. 54, s. 140; 2007, c. 6, s. 135; 2010, c. 12, s. 2114; 2012, c. 5, s. 104; 2014, c. 39, s. 278; 2015, c. 3, s. 43