S-29.02 - Trust Companies and Savings Companies Act

Full text
138. The authorization granted by the Authority to a trust company is revoked by operation of law, by the Authority acting on its own initiative or on an application by the authorized trust company.
Revocation is said to be voluntary if it is ordered by the Authority on an application by a trust company; it is said to be forced in all other cases.
The Authority may also, where provided for by law, suspend an authorization or attach the conditions and restrictions it considers necessary to ensure compliance with this Act.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
138. The authorization granted by the Authority to a trust company is revoked by operation of law, by the Authority acting on its own initiative or on an application by the authorized trust company.
Revocation is said to be voluntary if it is ordered by the Authority on an application by a trust company; it is said to be forced in all other cases.
The Authority may also, where provided for by law, suspend an authorization or attach the conditions and restrictions it considers necessary to ensure compliance with this Act.
2018, c. 232018, c. 23, s. 395.