COOPERATIVE CREDIT ASSOCIATIONS ACTRelated Party of a Retail Association RegulationsP.C.2005-81120055
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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 410(1.1)a and paragraph 463(i.2)b of the Cooperative Credit Associations Actc, hereby makes the annexed Related Party of a Retail Association Regulations.S.C. 2001, c. 9, s. 315(3)S.C. 2001, c. 9, s. 339S.C. 1991, c. 48InterpretationIn these Regulations, Act means the Cooperative Credit Associations Act.ExclusionsFor the purpose of subsection 410(1.1) of the Act, a person is not a related party of a retail association if the person would be a related party of the retail association only because the person isa member of the retail association other than a member whocontrols, or has a significant interest in, the retail association, orhas the right to exercise more than 10% of the votes that may be cast at an annual meeting of the retail association or to appoint or elect more than 10% of the directors of the retail association;a member of an association — other than a member that controls that association — that controls, or has a significant interest in, the retail association;the spouse or common-law partner, or a child who is less than 18 years of age, of a person described in paragraph (a) or (b); oran entity that is controlled, determined without regard to paragraph 3(1)(e) of the Act, by a person described in paragraphs (a) to (c).Coming into ForceThese Regulations come into force on the day on which they are registered.