GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Investment Limits (Banks) Regulations — 7
Definition and value of interest in real property 7 (1) For the purposes of Part IX of the Act, other than subsection 475(3) of the Act, sections 8 to 12 define the interests of a bank in real property and set out how those interests are to be valued. Exception (2) For the purpose of subsection 475(3) of the Act, the interests of a bank 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 bank, or by a designated entity controlled by the bank, as a result of the realization of a security interest on a loan or debt obligation referred to in subsection 11(1).
Investment Limits (Banks) Regulations — 8
Direct interests 8 (1) The following are interests of a bank in real property: (a) real property beneficially owned by the bank or by a designated entity controlled by the bank; and (b) a debt obligation, for which the bank or a designated entity controlled by the bank 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 a bank 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 (Banks) Regulations — 9
Certain indirect interests 9 (1) The following are interests of a bank in real property: (a) at a particular time, real property (i) that is beneficially owned by (A) a related real property entity of the bank 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 bank prepared as at that time in accordance with the accounting principles and specifications of the Superintendent referred to in subsection 308(4) of the Act; and (b) shares and ownership interests beneficially owned by the bank, or by a designated entity controlled by the bank, in any related real property entity of the bank other than a related real property entity referred to in paragraph (a). Value of those interests (2) The value of the interests of a bank 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 (Banks) Regulations — 10
Certain indirect interests 10 (1) The following are interests of a bank in real property: (a) a debt obligation issued by a related real property entity of the bank and beneficially owned by the bank or by a designated entity controlled by the bank; (b) a loan made by the bank, or by a designated entity controlled by the bank, to a related real property entity of the bank; (c) a loan made by the bank, or by a designated entity controlled by the bank, to (i) a real property entity in which a securities dealer or insurance company controlled by the bank 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 bank or by a designated entity controlled by the bank; (e) a debt obligation that is (i) issued by a related real property entity of the bank, (ii) beneficially owned by a third party, and (iii) guaranteed by the bank or by a designated entity controlled by the bank; and (f) a loan made by a third party to a related real property entity of the bank and guaranteed by the bank or by a designated entity controlled by the bank. Value of those interests (2) The value of the interests of a bank 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 bank and the entity beneficially owns real property that is an interest of the bank 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 (Banks) Regulations — 12
Other interests 12 (1) The following are interests of a bank in real property: (a) a guarantee given by the bank, or by a designated entity controlled by the bank, to an entity other than the bank or designated entity for the purpose of completing the development of real property that is beneficially owned by (i) the bank, (ii) a designated entity controlled by the bank, or (iii) a related real property entity of the bank; and (b) an agreement made by the bank, or by a designated entity controlled by the bank, to support a third party’s cost of operating or financing real property that is beneficially owned by (i) the bank, (ii) a designated entity controlled by the bank, or (iii) a related real property entity of the bank. Value of those interests (2) The value of the interests of a bank 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 bank, or by a designated entity controlled by the bank, under the agreement.
Investment Limits (Banks) Regulations — Coming into force
Coming into force * 15 These Regulations come into force on the day on which sections 467 and 479 of the Bank Act , as enacted by section 127 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 (Canadian Societies) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 553 a , 564 b and 1021 c of the Insurance Companies Act d , hereby makes the annexed Investment Limits (Canadian Societies) Regulations . a S.C. 2001, c. 9, s. 437 b S.C. 2001, c. 9, s. 439 c S.C. 2001, c. 9, s. 465 d S.C. 1991, c. 47
Investment Limits (Canadian Societies) Regulations — 1
Definitions 1 The following definitions apply in these Regulations. Act means the Insurance Companies Act . ( Loi ) designated entity , in respect of a society, means an entity other than (a) a joint venture; (b) a financial institution; or (c) 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 society. ( entité désignée ) joint venture means a real property entity (a) that was formed by a society, or by a designated entity controlled by a society, and one or more other persons for the purpose of a specific business undertaking; (b) in which the society 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 ) 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 ) related real property entity , in respect of a society, means (a) a real property entity, other than a designated entity controlled by the society, in which the society or a designated entity controlled by the society beneficially owns sufficient shares or ownership interests to cause the society 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 ) third party , in respect of a society, means a person other than (a) the society; (b) a designated entity controlled by the society; or (c) a related real property entity of the society. ( tierce partie )
Investment Limits (Canadian Societies) Regulations — Investment Limits (Canadian Societies) Regulations
Act means the Insurance Companies Act . ( Loi )
Investment Limits (Canadian Societies) Regulations — (a)
designated entity , in respect of a society, means an entity other than (a) a joint venture; (b) a financial institution; or (c) 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 society. ( entité désignée )
Investment Limits (Canadian Societies) Regulations — (a)
joint venture means a real property entity (a) that was formed by a society, or by a designated entity controlled by a society, and one or more other persons for the purpose of a specific business undertaking; (b) in which the society 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 (Canadian Societies) 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 (Canadian Societies) Regulations — (a)
related real property entity , in respect of a society, means (a) a real property entity, other than a designated entity controlled by the society, in which the society or a designated entity controlled by the society beneficially owns sufficient shares or ownership interests to cause the society 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 (Canadian Societies) Regulations — (a)
third party , in respect of a society, means a person other than (a) the society; (b) a designated entity controlled by the society; or (c) a related real property entity of the society. ( tierce partie )
Investment Limits (Canadian Societies) Regulations — 2
Book value of interest in real property 2 For the purposes of sections 7 to 10, the book value of an asset that is an interest of a society 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 society 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 society 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 (Canadian Societies) Regulations — 3
Prescribed subsidiary of a society 3 For the purposes of sections 563, 565 and 566 of the Act, a prescribed subsidiary of a society is any subsidiary of the society, except where that subsidiary is (a) a financial institution; or (b) 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 society.
Investment Limits (Canadian Societies) Regulations — 4
Definition of total assets 4 (1) In this section, total assets , in respect of a society, 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 society 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 a subsidiary of the society, if that subsidiary is (a) a financial institution, or (b) 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 society. Amount determined — real property (2) For the purpose of section 563 of the Act, the amount determined in respect of a society is 15% of the total assets of the society. Amount determined — equity (3) For the purpose of section 565 of the Act, the amount determined in respect of a society is 25% of the total assets of the society.
Investment Limits (Canadian Societies) Regulations — 5
Equity owned by society 5 For the purposes of sections 565 and 566 of the Act, the value of the participating shares and ownership interests referred to in those sections that are beneficially owned by a society and its subsidiaries prescribed by section 3 is equal to their book value as reported on the consolidated balance sheet of the society.
Investment Limits (Canadian Societies) Regulations — 6
Definition and value of interest in real property 6 For the purposes of Part XII of the Act, sections 7 to 11 define the interests of a society in real property and set out how those interests are to be valued.
Investment Limits (Canadian Societies) Regulations — 7
Direct interests 7 (1) The following are interests of a society in real property: (a) real property beneficially owned by the society or by a designated entity controlled by the society; and (b) a debt obligation, for which the society or a designated entity controlled by the society 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 a society 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 (Canadian Societies) Regulations — 8
Certain indirect interests 8 (1) The following are interests of a society in real property: (a) at a particular time, real property (i) that is beneficially owned by (A) a related real property entity of the society 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 society 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) shares and ownership interests beneficially owned by the society, or by a designated entity controlled by the society, in any related real property entity of the society other than a related real property entity referred to in paragraph (a). Value of those interests (2) The value of the interests of a society 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 (Canadian Societies) Regulations — 9
Certain indirect interests 9 (1) The following are interests of a society in real property: (a) a debt obligation issued by a related real property entity of the society and beneficially owned by the society or by a designated entity controlled by the society; (b) a loan made by the society, or by a designated entity controlled by the society, to a related real property entity of the society; (c) a loan made by the society, or by a designated entity controlled by the society, to (i) a real property entity in which a financial institution controlled by the society 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 society or by a designated entity controlled by the society; (e) a debt obligation that is (i) issued by a related real property entity of the society, (ii) beneficially owned by a third party, and (iii) guaranteed by the society or by a designated entity controlled by the society; and (f) a loan made by a third party to a related real property entity of the society and guaranteed by the society or by a designated entity controlled by the society. Value of those interests (2) The value of the interests of a society 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 society and the entity beneficially owns real property that is an interest of the society in real property under paragraph 8(1)(a), any amount by which the face value of the guarantee exceeds the value of the real property determined in accordance with paragraph 8(2)(a), and (ii) in any other case, the face value of the guarantee.
Investment Limits (Canadian Societies) Regulations — 11
Other interests 11 (1) The following are interests of a society in real property: (a) a guarantee given by the society, or by a designated entity controlled by the society, to an entity other than the society or designated entity for the purpose of completing the development of real property that is beneficially owned by (i) the society, (ii) a designated entity controlled by the society, or (iii) a related real property entity of the society; and (b) an agreement made by the society, or by a designated entity controlled by the society, to support a third party’s cost of operating or financing real property that is beneficially owned by (i) the society, (ii) a designated entity controlled by the society, or (iii) a related real property entity of the society. Value of those interests (2) The value of the interests of a society 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 society, or by a designated entity controlled by the society, under the agreement.
Investment Limits (Canadian Societies) Regulations — Coming into force
Coming into force * 13 These Regulations come into force on the day on which sections 553 and 564 of the Insurance Companies Act , as enacted by sections 437 and 439 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 (Cooperative Credit Associations) Regulations — a
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 389 a , 403 a and 463 b of the Cooperative Credit Associations Act c , hereby makes the annexed Investment Limits (Cooperative Credit Associations) Regulations . a S.C. 2001, c. 9, s. 314 b S.C. 2001, c. 9, s. 339 c S.C. 1991, c. 48
Investment Limits (Cooperative Credit Associations) Regulations — 1
Definitions 1 The following definitions apply in these Regulations. Act means the Cooperative Credit Associations Act . ( Loi ) designated entity means an entity other than (a) a joint venture; (b) an insurance company; (c) a securities dealer; or (d) a subsidiary of an insurance company or securities dealer. ( entité désignée ) insurance company means an insurance company incorporated by or under the laws of Canada or a province. ( société d’assurances ) 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 ) 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 ) 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 ) securities dealer means an entity described in paragraph (g) of the definition financial institution in section 2 of the Act. ( négociant en valeurs mobilières ) 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 — Investment Limits (Cooperative Credit Associations) Regulations
Act means the Cooperative Credit Associations Act . ( Loi )
Investment Limits (Cooperative Credit Associations) Regulations — (a)
designated entity means an entity other than (a) a joint venture; (b) an insurance company; (c) a securities dealer; or (d) a subsidiary of an insurance company or securities dealer. ( entité désignée )
Investment Limits (Cooperative Credit Associations) Regulations — Investment Limits (Cooperative Credit Associations) Regulations
insurance company means an insurance company incorporated by or under the laws of Canada or a province. ( société d’assurances )