I-13.2.2 - Deposit Institutions and Deposit Protection Act

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28.54. The following natural persons and groups are restricted parties with respect to an authorized Québec deposit institution:
(1)  the deposit institution’s directors and officers;
(2)  the directors and officers of the group that is the holder of control of the deposit institution;
(3)  if the deposit institution is a Québec savings company, the holder of a significant interest in the company;
(4)  natural persons and groups having economic ties with the persons described in subparagraphs 1 to 3, except a group of which the deposit institution is the holder of control;
(5)  a group whose board of directors is composed, in the majority, of members of the deposit institution’s board of directors; and
(6)  any other person or group designated under section 28.56.
An authorized financial institution is not a group that is a restricted party with respect to a deposit institution if the financial institution is the holder of exclusive control of the deposit institution, or if it is the holder of control of the deposit institution and both the authorized financial institution and the deposit institution have the same holder of exclusive control.
2018, c. 232018, c. 23, s. 353.