Manner of Calculation (Foreign Banks) Regulations
Version of section 2 from 2006-03-22 to 2010-03-24:
Marginal note:Portion of entity’s activities
2 For 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 formula
A × 100%
where
- A
- is the greater of the fraction B/C and the fraction D/E,
where
- B
- is the part of the total assets of the entity that is in respect of the particular activities,
- C
- is the total assets of the entity,
- D
- is the part of the total revenue of the entity that is derived from the particular activities, and
- E
- is the total revenue of the entity.
- Date modified: