B-1.01Bank ActSOR/2001-399200110
4
201301
28
20083
14
BANK ACTManner of Calculation (Foreign Banks) RegulationsP.C.2001-1770 200110
4
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 978a of the Bank Actb, hereby makes the annexed Manner of Calculation (Foreign Banks) Regulations.S.C. 2001, c. 9, s. 183S.C. 1991, c. 46INTERPRETATION
DefinitionsThe following definitions apply in these Regulations.ActLoiAct means the Bank Act.total assetsactif totaltotal assets has the same meaning as in subsection 508(5) of the Act.total revenuerecettes d’exploitation totalestotal revenue has the same meaning as in subsection 508(5) of the Act.
  • SOR/2008-162, s. 1;
  • SOR/2010-71, s. 1.
Previous Version
PRESCRIBED MANNER
Portion of entity’s activitiesFor the purpose of the definition financial services entity in subsection 507(1) of the Act, the prescribed manner of determining the portion of the activities that an entity engages in that consists of one or more of the activities referred to in paragraphs (a) to (h) of that definition (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the entity that is in respect of the particular activities,Cis the total assets of the entity,Dis the part of the total revenue of the entity that is derived from the particular activities, andEis the total revenue of the entity.
  • SOR/2010-71, s. 2(F).
Previous Version
Portion of entity’s business in Canada — par. 522.05(a) of the ActFor the purpose of paragraph 522.05(a) of the Act, the prescribed manner of determining the portion of the business in Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the foreign bank or other entity that is in respect of the particular activities that the foreign bank or other entity engaged in or carried on in Canada,Cis the part of the total assets of the foreign bank or other entity that is in respect of its business that it engaged in or carried on in Canada,Dis the part of the total revenue of the foreign bank or other entity that is derived from the particular activities that the foreign bank or other entity engaged in or carried on in Canada, andEis the part of the total revenue of the foreign bank or other entity that is derived from its business that it engaged in or carried on in Canada.
  • SOR/2010-71, s. 2(F).
Previous Version
Portion of entity’s business outside Canada — par. 522.05(b) of the ActFor the purpose of paragraph 522.05(b) of the Act, the prescribed manner of determining the portion of the business outside Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the foreign bank or other entity that is in respect of the particular activities that the foreign bank or other entity engaged in or carried on outside Canada,Cis the part of the total assets of the foreign bank or other entity that is in respect of its business that it engaged in or carried on outside Canada,Dis the part of the total revenue of the foreign bank or other entity that is derived from the particular activities that the foreign bank or other entity engaged in or carried on outside Canada, andEis the part of the total revenue of the foreign bank or other entity that is derived from its business that it engaged in or carried on outside Canada.
  • SOR/2010-71, s. 2(F).
Previous Version
Portion of Canadian entity’s activities — paragraphs 522.09(1)(b) and (2)(b) of the ActFor the purpose of paragraphs 522.09(1)(b) and (2)(b) of the Act, the prescribed manner of determining the portion of the activities a Canadian entity engages in that consists of the activities referred to in either of those paragraphs (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the Canadian entity that is in respect of the particular activities,Cis the total assets of the Canadian entity,Dis the part of the total revenue of the Canadian entity that is derived from the particular activities, andEis the total revenue of the Canadian entity.
  • SOR/2008-162, s. 2;
  • SOR/2010-71, s. 2(F).
Previous Version
Portion of entity’s business in Canada — par. 522.19(1)(a) of the ActFor the purpose of paragraph 522.19(1)(a) of the Act, the prescribed manner of determining the portion of the business in Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the foreign bank or other entity that is in respect of the particular activities that the foreign bank or other entity engaged in or carried on in Canada,Cis the part of the total assets of the foreign bank or other entity that is in respect of its business that it engaged in or carried on in Canada,Dis the part of the total revenue of the foreign bank or other entity that is derived from the particular activities that the foreign bank or other entity engaged in or carried on in Canada, andEis the part of the total revenue of the foreign bank or other entity that is derived from its business that it engaged in or carried on in Canada.
  • SOR/2010-71, s. 2(F).
Previous Version
Portion of entity’s business outside Canada — par. 522.19(1)(b) of the ActFor the purpose of paragraph 522.19(1)(b) of the Act, the prescribed manner of determining the portion of the business outside Canada, of a foreign bank or other entity, that consists of one or more of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formulaA × 100%whereAis the greater of the fraction B/C and the fraction D/E,whereBis the part of the total assets of the foreign bank or other entity that is in respect of the particular activities that the foreign bank or other entity engaged in or carried on outside Canada,Cis the part of the total assets of the foreign bank or other entity that is in respect of its business that it engaged in or carried on outside Canada,Dis the part of the total revenue of the foreign bank or other entity that is derived from the particular activities that the foreign bank or other entity engaged in or carried on outside Canada, andEis the part of the total revenue of the foreign bank or other entity that is derived from its business that it engaged in or carried on outside Canada.
  • SOR/2010-71, s. 2(F).
Previous Version
COMING INTO FORCE
Coming into forceThese Regulations come into force on the day on which section 978 of the Bank Act, as enacted by section 183 of the Financial Consumer Agency of Canada Act, chapter 9 of the Statutes of Canada, 2001, comes into force.[Note: Regulations in force October 24, 2001, see SI/2001-102.]