Bank Act — B-1.01 507
Definitions 507 (1) The following definitions apply in this Part. business growth fund means Canadian Business Growth Fund (GP) Inc., a corporation incorporated under the Canada Business Corporations Act . ( fonds de croissance des entreprises ) designated foreign bank [Repealed, 2007, c. 6, s. 48] designation order [Repealed, 2007, c. 6, s. 48] exemption order [Repealed, 2007, c. 6, s. 48] finance entity means a Canadian entity that is a finance entity as defined in the regulations. ( entité s’occupant de financement ) financial leasing entity means a Canadian entity that is a financial leasing entity as defined in subsection 464(1). ( entité s’occupant de crédit-bail ) financial services entity means an entity, other than an entity referred to in any of paragraphs 468(1)(a) to (i) or a leasing entity, that engages in activities at least the prescribed portion — or if no portion is prescribed, 10 per cent — of which, determined in the prescribed manner, consists of one or more of the following activities: (a) providing any financial service; (b) acting as a financial agent; (c) providing investment counselling and portfolio management services; (d) issuing payment, credit or charge cards and, in cooperation with others, including other financial institutions, operating a payment, credit or charge card plan; (e) engaging in the activities referred to in the definition closed-end fund , mutual fund distribution entity or mutual fund entity in subsection 464(1); (f) engaging in prescribed activities, under prescribed terms and conditions, if any are prescribed; (g) engaging in any activity referred to in paragraphs (a) to (f) as an agent for another entity referred to in any of those paragraphs or in any of paragraphs 468(1)(a) to (j); or (h) acquiring or holding control of, or becoming a major owner of, an entity referred to in any of paragraphs (a) to (g) or any of paragraphs 468(1)(a) to (j). ( entité s’occupant de services financiers ) foreign cooperative credit society means an entity that is incorporated or formed, and regulated, otherwise than by or under an Act of Parliament or of the legislature of a province, and that, outside Canada, engages in or carries on the business of a cooperative credit society. ( société coopérative de crédit étrangère ) foreign insurance company means a foreign company as defined in subsection 2(1) of the Insurance Companies Act . ( société d’assurances étrangère ) foreign securities dealer means an entity that is incorporated or formed, and regulated, otherwise than by or under an Act of Parliament or of the legislature of a province, and that, outside Canada, engages in or carries on the business of dealing in securities. ( courtier de valeurs mobilières étranger ) leasing activities means (a) the financial leasing of personal property and the related activities that a financial leasing entity may engage in; and (b) all other leasing of personal property. ( activités de location ) leasing entity means an entity that engages in only (a) leasing activities; or (b) leasing activities and activities other than those described in paragraphs (a) to (h) of the definition financial services entity . ( entité s’occupant de location ) limited commercial entity means a Canadian entity that a foreign bank or an entity associated with a foreign bank may control in accordance with subsection 522.09(1) or (2), or in which a foreign bank or an entity associated with a foreign bank is permitted to acquire a substantial investment in accordance with that subsection. ( entité à activités commerciales restreintes ) non-bank affiliate of a foreign bank means a Canadian entity, other than a bank, (a) in which a foreign bank or an entity associated with a foreign bank holds a substantial investment, or (b) that is controlled by a foreign bank or an entity associated with a foreign bank, but a Canadian entity is not a non-bank affiliate of a foreign bank by reason only that a bank that is a subsidiary of the fore