Marginal note:Deposits less than $150,000
413.2 (1) Subject to the regulations, a bank to which paragraph 413(1)(b) applies may not, in respect of its business in Canada, act as agent for any person in the taking of a deposit that is less than $150,000 and payable in Canada.
Marginal note:Meaning of “deposit”
(2) In this section, “deposit” has the meaning assigned to that term by subsection 413(5).
Marginal note:Regulations
(3) The Governor in Council may make regulations respecting the circumstances in which, and the conditions under which, a bank referred to in subsection (1) may act as agent for any person in the taking of a deposit that is less than $150,000 and payable in Canada.
- 2001, c. 9, s. 104
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