Bank Act — B-1.01 2
dit societies; ( fédération de sociétés coopératives de crédit ) fiduciary means any person acting in a fiduciary capacity and includes a personal representative of a deceased person; ( représentant ) financial institution means (a) a bank or an authorized foreign bank, (b) a body corporate to which the Trust and Loan Companies Act applies, (c) an association to which the Cooperative Credit Associations Act applies, (d) an insurance company or a fraternal benefit society incorporated or formed under the Insurance Companies Act , (e) a trust, loan or insurance corporation incorporated by or under an Act of the legislature of a province, (f) a cooperative credit society incorporated and regulated by or under an Act of the legislature of a province, (g) an entity that is incorporated or formed by or under an Act of Parliament or of the legislature of a province and that is primarily engaged in dealing in securities, including portfolio management and investment counselling, and (h) a foreign institution; ( institution financière ) foreign bank , subject to section 12, means an entity incorporated or formed by or under the laws of a country other than Canada that (a) is a bank according to the laws of any foreign country where it carries on business, (b) carries on a business in any foreign country that, if carried on in Canada, would be, wholly or to a significant extent, the business of banking, (c) engages, directly or indirectly, in the business of providing financial services and employs, to identify or describe its business, a name that includes the word “bank”, “ banque ”, “banking” or “ bancaire ”, either alone or in combination with other words, or any word or words in any language other than English or French corresponding generally thereto, (d) engages in the business of lending money and accepting deposit liabilities transferable by cheque or other instrument, (e) engages, directly or indirectly, in the business of providing financial services and is affiliated with another foreign bank, (f) controls another foreign bank, or (g) is a foreign institution, other than a foreign bank within the meaning of any of paragraphs (a) to (f), that controls a bank incorporated or formed under this Act, but does not include a subsidiary of a bank named in Schedule I as that Schedule read immediately before the day section 184 of the Financial Consumer Agency of Canada Act comes into force, unless the Minister has specified that subsection 378(1) no longer applies to the bank; ( banque étrangère ) foreign bank subsidiary [Repealed, 2001, c. 9, s. 35] foreign institution means an entity that is (a) engaged in the business of banking, the trust, loan or insurance business, the business of a cooperative credit society or the business of dealing in securities or is otherwise engaged primarily in the business of providing financial services, and (b) incorporated or formed otherwise than by or under an Act of Parliament or of the legislature of a province; ( institution étrangère ) form of proxy means a written or printed form that, when completed and executed by or on behalf of a shareholder, constitutes a proxy; ( formulaire de procuration ) going-private transaction means a going-private transaction as defined in the regulations; ( transaction de fermeture ) guarantee includes a letter of credit; ( garantie ) head office , in relation to a bank, means the office required to be maintained under section 237 and, in relation to a bank holding company, means the office required to be maintained under section 814; ( siège ) holder means (a) in respect of a security certificate, the person in possession of the certificate issued or endorsed to that person or to bearer or in blank, (b) in respect of the ownership of a share, the shareholder of the share within the meaning of section 7, and (c) in respect of the ownership of a membership share, the member who holds the membership share within the meaning of section 7.1; ( détenteur ) holding bo