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Trust and Loan Companies Act

Version of section 410 from 2018-06-21 to 2024-02-06:


Marginal note:Additional activities

  •  (1) In addition, a company may

    • (a) act as an agent for vendors, purchasers, mortgagors, mortgagees, lessors or lessees of real property and provide consulting or appraisal services in respect of real property;

    • (b) hold, manage and otherwise deal with real property;

    • (c) outside Canada, or with the prior written approval of the Minister, in Canada, engage in any of the following activities, namely,

      • (i) collecting, manipulating and transmitting

        • (A) information that is primarily financial or economic in nature,

        • (B) information that relates to the business of a permitted entity, as defined in subsection 449(1), or

        • (C) any other information that the Minister may, by order, specify,

      • (ii) providing advisory or other services in the design, development or implementation of information management systems,

      • (iii) designing, developing or marketing computer software, and

      • (iv) designing, developing, manufacturing or selling, as an ancillary activity to any activity referred to in any of subparagraphs (i) to (iii) that the company is engaging in, computer equipment integral to the provision of information services related to the business of financial institutions or to the provision of financial services;

    • (c.1) with the prior written approval of the Minister, develop, design, hold, manage, manufacture, sell or otherwise deal with data transmission systems, information sites, communication devices or information platforms or portals that are used

      • (i) to provide information that is primarily financial or economic in nature,

      • (ii) to provide information that relates to the business of a permitted entity, as defined in subsection 449(1), or

      • (iii) for a prescribed purpose or in prescribed circumstances;

    • (d) in Canada, engage in such activities referred to in paragraph (c) that the company was engaged in prior to June 1, 1992;

    • (d.1) engage, under prescribed terms and conditions, if any are prescribed, in specialized business management or advisory services;

    • (e) promote merchandise and services to the holders of any payment, credit or charge card issued by the company;

    • (f) engage in the sale of

      • (i) tickets, including lottery tickets, on a non-profit public service basis in connection with special, temporary and infrequent non-commercial celebrations or projects that are of local, municipal, provincial or national interest,

      • (ii) urban transit tickets, and

      • (iii) tickets in respect of a lottery sponsored by the federal government or a provincial or municipal government or an agency of any such government or governments;

    • (g) act as a custodian of property; and

    • (h) provide identification, authentication or verification services.

  • Marginal note:Restriction

    (2) Except as authorized by or under this Act, a company shall not deal in goods, wares or merchandise or engage in any trade or other business.

  • Marginal note:Regulations

    (3) The Governor in Council may make regulations

    • (a) respecting what a company may or may not do with respect to the carrying on of the activities referred to in paragraphs (1)(c), (c.1) and (d.1);

    • (b) imposing terms and conditions in respect of the provision of the services referred to in paragraphs (1)(a) and 409(2)(c) and the carrying on of the activities referred to in paragraphs (1)(c), (c.1) and (d.1); and

    • (c) respecting the circumstances in which companies may be exempted from the requirement to obtain the approval of the Minister before carrying on a particular activity referred to in paragraph (1)(c) or (c.1).

  • 1991, c. 45, s. 410
  • 1993, c. 34, s. 126(F)
  • 1997, c. 15, s. 375
  • 2001, c. 9, s. 530
  • 2018, c. 12, s. 310

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