TRUST AND LOAN COMPANIES ACTCivil Remedies (Trust and Loan Companies) RegulationsP.C.2006-1427200611
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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsections 276(1)a, (3)a and (6)a and 531(1)b of the Trust and Loan Companies Actc, hereby makes the annexed Civil Remedies (Trust and Loan Companies) Regulations.S.C. 2005, c. 54, s. 422S.C. 2005, c. 54, s. 449S.C. 1991, c. 45InterpretationIn these Regulations, Act means the Trust and Loan Companies Act.Civil RemediesFor the purpose of paragraph 276(1)(d) of the Act, the prescribed percentage of voting rights attached to all of the trust and loan company’s outstanding shares is 10%.SOR/2008-88, s. 1(F)For the purpose of subsection 276(3) of the Act, take-over bid means a take-over bid under any legislation that is set out in column 2 of the schedule.For the purpose of paragraph 276(6)(c) of the Act, the prescribed circumstances are that the insiderentered into the purchase or sale of the security as an agent pursuant to a specific unsolicited order to purchase or sell;made the purchase or sale of the security pursuant to participation in an automatic dividend reinvestment plan, share purchase plan or other similar automatic plan that the insider entered into before the acquisition of the confidential information;made the purchase or sale of the security to fulfil a legally binding obligation that the insider entered into before the acquisition of the confidential information; orpurchased or sold the security as agent or trustee in the circumstances described in paragraph (b) or (c).Coming into ForceThese Regulations come into force on the day on which they are registered.(Section 3)
TAKE-OVER BID
Column 1Column 2ItemJurisdictionLegislation1Ontariothe definition take-over bid in subsection 89(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended from time to time2Quebecthe definition take-over bid in section 110 of the Securities Act, R.S.Q., c. V-1.1, as amended from time to time3Nova Scotiathe definition take-over bid in paragraph 95(1)(l) of the Securities Act, R.S.N.S. 1989, c. 418, as amended from time to time4New Brunswickthe definition take-over bid in subsection 106(1) of the Securities Act, S.N.B. 2004, c. S-5.5, as amended from time to time5Manitobathe definition take-over bid in subsection 80(1) of The Securities Act, C.C.S.M., c. S50, as amended from time to time6British Columbiathe definition take over bid in subsection 92(1) of the Securities Act, R.S.B.C. 1996, c. 418, as amended from time to time7Saskatchewanthe definition take-over bid in paragraph 98(1)(j) of The Securities Act, 1988, S.S. 1988-89, c. S-42.2, as amended from time to time8Albertathe definition take-over bid in paragraph 158(1)(r) of the Securities Act, R.S.A. 2000, c. S-4, as amended from time to time9Newfoundland and Labradorthe definition take-over bid in paragraph 90(1)(l) of the Securities Act, R.S.N.L. 1990, c. S-13, as amended from time to time10Yukonthe definition take-over bid in section 196 of the Business Corporations Act, R.S.Y. 2002, c. 20, as amended from time to time11Northwest Territoriesthe definition take-over bid in section 196 of the Business Corporations Act, S.N.W.T. 1996, c. 19, as amended from time to time12Nunavutthe definition take-over bid in section 196 of the Business Corporations Act (Nunavut), S.N.W.T. 1996, c. 19, as amended from time to time