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2021-04-22

Draft Regulation to amend Regulation 14-101 respecting Definitions

The regulator amends Regulation 14-101 respecting Definitions under the Securities Act to update specific regulatory terminology. The amendment replaces the definition of "Canadian financial institution" with a detailed list encompassing banks, trust companies, insurance corporations, credit unions, and treasury branches incorporated under federal or provincial laws. Additionally, the definition of "Handbook" is revised to refer specifically to the Chartered Professional Accountants of Canada Handbooks for Accounting and Assurance.

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REGULATION TO AMEND REGULATION 14-101 RESPECTING DEFINITIONS Securities Act (chapter V-1.1, s. 331.1, par. (34))

  1. Section 1.1 of Regulation 14-101 respecting Definitions (chapter V-1.1, r. 3) is amended, in paragraph (3): (1) by replacing the definition of the expression “Canadian financial institution” with the following: ““Canadian financial institution” means (a) a bank listed in Schedule I or II to the Bank Act (S.C. 1991, c. 46); (b) a body corporate to which the Trust and Loan Companies Act (S.C. 1991, c. 45) applies; (c) an association to which the Cooperative Credit Associations Act (S.C. 1991, c. 48) applies; (d) an insurance company or a fraternal benefit society incorporated or formed under the Insurance Companies Act (S.C. 1991, c. 47); (e) a trust, loan or insurance corporation incorporated by or under an Act of the legislature of a jurisdiction; (f) a credit union, central credit union, caisse populaire, financial services cooperative or credit union league or federation that is incorporated or otherwise authorized to carry on business by or under an Act of the legislature of a jurisdiction; or (g) a treasury branch established and regulated by or under an Act of the legislature of a jurisdiction;”; (2) by replacing the definition of the expression “Handbook” with the following: ““Handbook” means (a) the Chartered Professional Accountants of Canada Handbook - Accounting, as amended from time to time, and (b) the Chartered Professional Accountants of Canada Handbook - Assurance, as amended from time to time;”.
  2. This Regulation comes into force on (indicate here the date of coming into force of this Regulation).
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