S-29.02 - Trust Companies and Savings Companies Act

Full text
25. The Authority grants its authorization to an applicant that meets the following conditions:
(1)  the applicant has provided the information and documents required under this Act and paid the fees and charges payable;
(2)  in the Authority’s opinion,
(a)  the applicant has shown that it is able to comply with the applicable provisions of this Act,
(b)  there are no serious reasons to believe that a holder of a significant interest in the applicant’s decisions is likely to interfere with the applicant’s adherence to sound commercial practices or sound and prudent management practices, and
(c)  the applicant’s name is not misleading.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
25. The Authority grants its authorization to an applicant that meets the following conditions:
(1)  the applicant has provided the information and documents required under this Act and paid the fees and charges payable;
(2)  in the Authority’s opinion,
(a)  the applicant has shown that it is able to comply with the applicable provisions of this Act,
(b)  there are no serious reasons to believe that a holder of a significant interest in the applicant’s decisions is likely to interfere with the applicant’s adherence to sound commercial practices or sound and prudent management practices, and
(c)  the applicant’s name is not misleading.
2018, c. 232018, c. 23, s. 395.