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Jobs and Economic Growth Act (S.C. 2010, c. 12)

Assented to 2010-07-12

2125. Paragraphs 228(b) and (c) of the Act are replaced by the following:

  • (b) one or more companies and one or more bodies corporate that are incorporated by or under an Act of Parliament, other than a federal credit union, or

  • (c) two or more bodies corporate incorporated by or under an Act of Parliament, other than a federal credit union,

Marginal note:R.S., c. W-11

Winding-up and Restructuring Act

2126. Subsection 2(1) of the Winding-up and Restructuring Act is amended by adding the following in alphabetical order:

“federal credit union”

« coopérative de crédit fédérale »

“federal credit union” has the same meaning as in section 2 of the Bank Act;

Marginal note:2007, c. 6, s. 444

2127. The portion of paragraph 3(i) of the Act before subparagraph (i) is replaced by the following:

  • (i) if, in the case of a company that is a federal member institution, within the meaning assigned to that expression by the Canada Deposit Insurance Corporation Act, the shares and subordinated debt of which — and, if the federal member institution is a federal credit union, the membership shares of which — have been vested in the Canada Deposit Insurance Corporation by order of the Governor in Council under paragraph 39.13(1)(a) of the Canada Deposit Insurance Corporation Act, a transaction or series of transactions referred to in subsection 39.2(1) of that Act is not, in the opinion of the Corporation, substantially completed on or before the date that is not later than

2128. Paragraph 6(1)(b) of the Act is replaced by the following:

  • (b) is in liquidation or in the process of being wound up and, on petition by any of its shareholders or creditors, assignees or liquidators — or , if it is a federal credit union, by any of its members, shareholders, creditors, assignees or liquidators — asks to be brought under this Act; or

2129. Paragraph 10(b) of the Act is replaced by the following:

  • (b) if the company at a special meeting of shareholders — or, if the company is a federal credit union, at a special meeting of members or shareholders — called for the purpose has passed a resolution requiring the company to be wound up;

2130. Paragraph 11(a) of the Act is replaced by the following:

  • (a) in the cases mentioned in paragraphs 10(a) and (b), be made by the company or by a shareholder of the company, or, if the company is a federal credit union, by a member or shareholder of the company;