In force: 2019-06-13
217. The following legal persons may be continued as regulated corporations:
(1) a legal person of the nature of a business corporation constituted under the laws of a jurisdiction other than Québec, if the Act governing the corporation confers on it the capacity to carry on trust company activities or to solicit or receive deposits of money from the public; and
(2) legal persons forming part of a cooperative group in the case provided for in section 40.26 of the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2).
The continuance of legal persons forming part of a cooperative group is governed by the Deposit Institutions and Deposit Protection Act.