GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Investment Limits (Cooperative Credit Associations) Regulations — (a)
joint venture means a real property entity (a) that was formed by an association, or by a designated entity controlled by an association, and one or more other persons for the purpose of a specific business undertaking; (b) in which the association or designated entity has a substantial investment; and (c) in respect of which the persons who formed it have agreed on joint control, regardless of the distribution of their equity. ( coentreprise )
Investment Limits (Cooperative Credit Associations) Regulations — (a)
real property entity means an entity that is primarily engaged in holding, managing or otherwise dealing with (a) real property; (b) shares of a body corporate that is primarily engaged in holding, managing or otherwise dealing with real property, including shares of a body corporate that is another real property entity; or (c) ownership interests in an unincorporated entity that is primarily engaged in holding, managing or otherwise dealing with real property, including ownership interests in an unincorporated entity that is another real property entity. ( entité immobilière )
Investment Limits (Cooperative Credit Associations) Regulations — (a)
related real property entity , in respect of an association, means (a) a real property entity, other than a designated entity controlled by the association, in which the association or a designated entity controlled by the association beneficially owns sufficient shares or ownership interests to cause the association or designated entity to have a substantial investment in the real property entity; or (b) a real property entity that is controlled by a real property entity described in paragraph (a). ( entité immobilière apparentée )
Investment Limits (Cooperative Credit Associations) Regulations — Investment Limits (Cooperative Credit Associations) Regulations
securities dealer means an entity described in paragraph (g) of the definition financial institution in section 2 of the Act. ( négociant en valeurs mobilières )
Investment Limits (Cooperative Credit Associations) Regulations — (a)
third party , in respect of an association, means a person other than (a) the association; (b) a designated entity controlled by the association; or (c) a related real property entity of the association. ( tierce partie )
Investment Limits (Cooperative Credit Associations) Regulations — 2
Book value of interest in real property 2 For the purposes of sections 8 to 11, the book value of an asset that is an interest of an association in real property, at a particular time, is (a) if the asset is real property, the gross book value of the real property, less any accumulated depreciation on the real property, that would be reported on a balance sheet of the association prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 292(4) of the Act; and (b) if the asset is a security or loan, the book value of the security or loan that would be reported on a balance sheet of the association prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 292(4) of the Act.
Investment Limits (Cooperative Credit Associations) Regulations — 3
Exempt associations 3 Sections 401 and 402 of the Act do not apply to an association if the sum of the equity of the association and the minority interests in entities controlled by the association, as they appear in the consolidated financial statements of the association, is five billion dollars or more.
Investment Limits (Cooperative Credit Associations) Regulations — 4
Prescribed subsidiary 4 For the purposes of sections 401 and 402 of the Act, a prescribed subsidiary of an association is a subsidiary of the association other than (a) an insurance company; (b) a securities dealer; or (c) a subsidiary of an insurance company or securities dealer. SOR/2011-196, s. 16(F)
Investment Limits (Cooperative Credit Associations) Regulations — 5
Definitions 5 (1) The following definitions apply in this section. real property percentage of an association means the amount determined by the formula (A/B) × 100% where A is the total value of all interests of the association in real property, other than interests that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; and B is the regulatory capital of the association. ( pourcentage de biens immeubles ) equity percentage of an association means the amount determined by the formula ((A + B)/C) × 100% where A is the total value of all participating shares that are beneficially owned by the association and its subsidiaries prescribed by section 4, other than (a) participating shares of permitted entities in which the association has a substantial investment, and (b) shares that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; B is the total value of all ownership interests in unincorporated entities that are beneficially owned by the association and its subsidiaries prescribed by section 4, other than (a) ownership interests in permitted entities in which the association has a substantial investment, and (b) ownership interests that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; and C is the regulatory capital of the association. ( pourcentage de capitaux propres ) Prescribed percentage — real property (2) For the purpose of section 401 of the Act, the prescribed percentage of the regulatory capital of an association is (a) 35%, if the association is primarily engaged in the business of managing liquidity or providing treasury, clearing, settlement or payment services; (b) 70%, if the association is not an association referred to in paragraph (a) and its equity percentage does not exceed 30%; and (c) 100% minus its equity percentage, if the association is not an association referred to in paragraph (a) and its equity percentage exceeds 30%. Prescribed percentage — equity (3) For the purpose of section 402 of the Act, the prescribed percentage of the regulatory capital of an association is (a) 35%, if the association is primarily engaged in the business of managing liquidity or providing treasury, clearing, settlement or payment services; (b) 70%, if the association is not an association referred to in paragraph (a) and its real property percentage does not exceed 30%; and (c) 100% minus its real property percentage, if the association is not an association referred to in paragraph (a) and its real property percentage exceeds 30%. SOR/2011-196, s. 18(F)
Investment Limits (Cooperative Credit Associations) Regulations — Investment Limits (Cooperative Credit Associations) Regulations
real property percentage of an association means the amount determined by the formula (A/B) × 100% where A is the total value of all interests of the association in real property, other than interests that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; and B is the regulatory capital of the association. ( pourcentage de biens immeubles )
Investment Limits (Cooperative Credit Associations) Regulations — (a)
equity percentage of an association means the amount determined by the formula ((A + B)/C) × 100% where A is the total value of all participating shares that are beneficially owned by the association and its subsidiaries prescribed by section 4, other than (a) participating shares of permitted entities in which the association has a substantial investment, and (b) shares that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; B is the total value of all ownership interests in unincorporated entities that are beneficially owned by the association and its subsidiaries prescribed by section 4, other than (a) ownership interests in permitted entities in which the association has a substantial investment, and (b) ownership interests that, because of section 397 of the Act, are not to be included in computing the value of loans, investments and interests of the association, and of its subsidiaries prescribed by section 4, under sections 398 to 402 of the Act; and C is the regulatory capital of the association. ( pourcentage de capitaux propres )
Investment Limits (Cooperative Credit Associations) Regulations — 6
Value equals book value 6 For the purpose of section 402 of the Act, the value of the participating shares and ownership interests referred to in that section that are beneficially owned by an association and its subsidiaries prescribed by section 4 is equal to their book value as reported on the consolidated balance sheet of the association.
Investment Limits (Cooperative Credit Associations) Regulations — 7
Definition of interest in real property 7 (1) For the purposes of Part X of the Act, other than subsection 397(3) of the Act, sections 8 to 12 define the interests of an association in real property and set out how those interests are to be valued. Exception (2) For the purpose of subsection 397(3) of the Act, the interests of an association in real property means real property referred to in paragraph 11(1)(a) and shares and ownership interests referred to in paragraph 11(1)(b) that become beneficially owned by the association, or by a designated entity controlled by the association, as a result of the realization of a security interest on a loan or debt obligation referred to in subsection 11(1).
Investment Limits (Cooperative Credit Associations) Regulations — 8
Direct interests 8 (1) The following are interests of an association in real property: (a) real property beneficially owned by the association or by a designated entity controlled by the association; and (b) a debt obligation, for which the association or a designated entity controlled by the association is liable, that was issued for the purpose of acquiring or improving real property referred to in paragraph (a). Value of direct interests (2) The value of the interests of an association in real property is (a) in respect of real property referred to in paragraph (1)(a), the book value of the real property; and (b) in respect of a debt obligation referred to in paragraph (1)(b), any amount by which the book value of the debt obligation exceeds the book value of the real property referred to in that paragraph.
Investment Limits (Cooperative Credit Associations) Regulations — 9
Certain indirect interests 9 (1) The following are interests of an association in real property: (a) at a particular time, real property (i) that is beneficially owned by (A) a related real property entity of the association that is a joint venture, or (B) an entity in which an entity described in clause (A) has a substantial investment, and (ii) that would be reported on a balance sheet of the association prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 292(4) of the Act; and (b) shares and ownership interests beneficially owned by the association, or by a designated entity controlled by the association, in any related real property entity of the association other than a related real property entity referred to in paragraph (a). Value of those interests (2) The value of the interests of an association in real property is (a) in respect of real property referred to in paragraph (1)(a), the book value of the real property; and (b) in respect of shares and ownership interests referred to in paragraph (1)(b), the book value of the shares and ownership interests.
Investment Limits (Cooperative Credit Associations) Regulations — 10
Certain indirect interests 10 (1) The following are interests of an association in real property: (a) a debt obligation issued by a related real property entity of the association and beneficially owned by the association or by a designated entity controlled by the association; (b) a loan made by the association, or by a designated entity controlled by the association, to a related real property entity of the association; (c) a loan made by the association, or by a designated entity controlled by the association, to (i) a real property entity in which a securities dealer or insurance company controlled by the association has a substantial investment, or (ii) a real property entity that is controlled by a real property entity described in subparagraph (i); (d) a debt obligation issued by a real property entity described in subparagraph (c)(i) or (ii) and beneficially owned by the association or by a designated entity controlled by the association; (e) a debt obligation that is (i) issued by a related real property entity of the association, (ii) beneficially owned by a third party, and (iii) guaranteed by the association or by a designated entity controlled by the association; and (f) a loan made by a third party to a related real property entity of the association and guaranteed by the association or by a designated entity controlled by the association. Value of those interests (2) The value of the interests of an association in real property is (a) in respect of a debt obligation referred to in paragraph (1)(a) or (d), the book value of the debt obligation; (b) in respect of a loan referred to in paragraph (1)(b) or (c), the book value of the loan; and (c) in respect of a guaranteed debt obligation referred to in paragraph (1)(e) or a guaranteed loan referred to in paragraph (1)(f), (i) if the debt obligation is issued by, or the loan is made to, an entity that is a related real property entity of the association and the entity beneficially owns real property that is an interest of the association in real property under paragraph 9(1)(a), any amount by which the face value of the guarantee exceeds the value of the real property determined in accordance with paragraph 9(2)(a), and (ii) in any other case, the face value of the guarantee.
Investment Limits (Cooperative Credit Associations) Regulations — 11
neficially owned by the association or a designated entity controlled by the association, the book value of the loan or debt obligation, or (B) if the debt obligation is guaranteed by the association or a designated entity controlled by the association, the face value of the guarantee, and B is the total net realizable value of any other security interests that were given for the loan or debt obligation.
Investment Limits (Cooperative Credit Associations) Regulations — 12
Other interests 12 (1) The following are interests of an association in real property: (a) a guarantee given by the association, or by a designated entity controlled by the association, to an entity other than the association or designated entity for the purpose of completing the development of real property that is beneficially owned by (i) the association, (ii) a designated entity controlled by the association, or (iii) a related real property entity of the association; and (b) an agreement made by the association, or by a designated entity controlled by the association, to support a third party’s cost of operating or financing real property that is beneficially owned by (i) the association, (ii) a designated entity controlled by the association, or (iii) a related real property entity of the association. Value of those interests (2) The value of the interests of an association in real property is (a) in respect of a guarantee referred to in paragraph (1)(a), the estimated cost of completing the development of the real property; and (b) in respect of an agreement referred to in paragraph (1)(b), the amount of any funds advanced by the association, or by a designated entity controlled by the association, under the agreement.
Investment Limits (Cooperative Credit Associations) Regulations — Coming into force
Coming into force * 15 These Regulations come into force on the day on which sections 389 and 403 of the Cooperative Credit Associations Act , as enacted by section 314 of the Financial Consumer Agency of Canada Act , chapter 9 of the Statutes of Canada, 2001, come into force. * [Note: Regulations in force October 24, 2001, see SI/2001-102.]
Investment Limits (Insurance Companies) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 494 a a , 509 a and 1021 b of the Insurance Companies Act c , hereby makes the annexed Investment Limits (Insurance Companies) Regulations . a S.C. 2001, c. 9, s. 426 b S.C. 2001, c. 9, s. 465 c S.C. 1991, c. 47
Investment Limits (Insurance Companies) Regulations — Investment Limits (Insurance Companies) Regulations
Act means the Insurance Companies Act . ( Loi )
Investment Limits (Insurance Companies) Regulations — (a)
designated entity , in respect of a company, means an entity other than (a) a joint venture; (b) a financial institution; (c) a bank holding company; (d) an insurance holding company; (e) a subsidiary of a financial institution, other than where the subsidiary is a subsidiary of a financial institution only because it is a subsidiary of the company; or (f) a subsidiary of a bank holding company or insurance holding company. ( entité désignée )
Investment Limits (Insurance Companies) Regulations — Investment Limits (Insurance Companies) Regulations
insurance company means an insurance company incorporated by or under the laws of Canada or a province. ( société d’assurances )
Investment Limits (Insurance Companies) Regulations — (a)
joint venture means a real property entity (a) that was formed by a company, or by a designated entity controlled by a company, and one or more other persons for the purpose of a specific business undertaking; (b) in which the company or designated entity has a substantial investment; and (c) in respect of which the persons who formed it have agreed on joint control, regardless of the distribution of their equity. ( coentre­prise )
Investment Limits (Insurance Companies) Regulations — (a)
minority interest means an equity interest, in an entity that is controlled by a company, that is held by a person other than (a) the company; or (b) an entity controlled by the company. ( participation minoritaire )
Investment Limits (Insurance Companies) Regulations — (a)
real property entity means an entity that is primarily engaged in holding, managing or otherwise dealing with (a) real property; (b) shares of a body corporate that is primarily engaged in holding, managing or otherwise dealing with real property, including shares of a body corporate that is another real property entity; or (c) ownership interests in an unincorporated entity that is primarily engaged in holding, managing or otherwise dealing with real property, including ownership interests in an unincorporated entity that is another real property entity. ( entité immobilière )
Investment Limits (Insurance Companies) Regulations — (a)
related real property entity , in respect of a company, means (a) a real property entity, other than a designated entity controlled by the company, in which the company or a designated entity controlled by the company beneficially owns sufficient shares or ownership interests to cause the company or designated entity to have a substantial investment in the real property entity; or (b) a real property entity that is controlled by a real property entity described in paragraph (a). ( entité immobilière apparentée )
Investment Limits (Insurance Companies) Regulations — Investment Limits (Insurance Companies) Regulations
securities dealer means an entity described in paragraph (g) of the definition financial institution in subsection 2(1) of the Act. ( négociant en valeurs mobilières )
Investment Limits (Insurance Companies) Regulations — (a)
third party , in respect of a company, means a person other than (a) the company; (b) a designated entity controlled by the company; or (c) a related real property entity of the company. ( tierce partie )
Investment Limits (Insurance Companies) Regulations — (a)
total assets , in respect of a company, at a particular time, means the amount determined by the formula A - B where A is the total of the assets that would be reported on the balance sheet of the company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 331(4) of the Act; and B is the total of all amounts each of which is an amount included in the value of A that is in respect of an asset of a subsidiary of the company, if that subsidiary is (a) a financial institution, (b) a bank holding company, (c) an insurance holding company, (d) a subsidiary of a financial institution, other than where the subsidiary is a subsidiary of a financial institution only because it is a subsidiary of the company, or (e) a subsidiary of a bank holding company or an insurance holding company. ( actif total )
Investment Limits (Insurance Companies) Regulations — 2
Book value of interest in real property 2 For the purposes of sections 8 to 11, the book value of an asset that is an interest of a company in real property, at a particular time, is (a) if the asset is real property, the gross book value of the real property, less any accumulated depreciation on the real property, that would be reported on a balance sheet of the company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 331(4) of the Act; and (b) if the asset is a security or loan, the book value of the security or loan that would be reported on a balance sheet of the company prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 331(4) of the Act.
Investment Limits (Insurance Companies) Regulations — 3
Exempt companies 3 Sections 506 to 508 of the Act do not apply to (a) a mutual company having an aggregate of surplus and minority interests of five billion dollars or more; or (b) a company, other than a mutual company, if it (i) is widely held and has equity of five billion dollars or more, or (ii) has equity of five billion dollars or more and is controlled by (A) a widely held bank holding company, (B) a widely held insurance holding company, (C) an eligible financial institution, as defined in section 370 of the Bank Act , other than a foreign bank as defined in section 2 of that Act, or (D) a foreign bank, as defined in section 2 of the Bank Act , that is widely held as defined in section 2.3 of that Act.
Investment Limits (Insurance Companies) Regulations — 4
Prescribed subsidiary 4 For the purposes of sections 506 to 508 of the Act, a prescribed subsidiary of a company is any subsidiary of the company, except where that subsidiary is (a) a financial institution; (b) a bank holding company; (c) an insurance holding company; (d) a subsidiary of a financial institution, other than where the subsidiary is a subsidiary of a financial institution only because it is a subsidiary of the company; or (e) a subsidiary of a bank holding company or insurance holding company.
Investment Limits (Insurance Companies) Regulations — 5
 the regulatory capital, within the meaning of the Regulatory Capital (Insurance Companies) Regulations , of a company, or (ii) the amount that would be treated as the capital of any other insurance company, or of a securities dealer, by a regulatory body that regulates the insurance company or securities dealer. SOR/2009-296, s. 30; SOR/2011-196, s. 23(F)