S-29.02 - Trust Companies and Savings Companies Act

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33. The Authority may prohibit that an authorized trust company’s obligations under this Act be performed by a third person on the company’s behalf if, in the Authority’s opinion, such performance would render the application of this Act difficult or ineffective.
Before rendering its decision, the Authority must notify the prior notice prescribed by section 5 of the Act respecting administrative justice to the company in writing and grant the latter at least 15 days to submit observations.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
33. The Authority may prohibit that an authorized trust company’s obligations under this Act be performed by a third person on the company’s behalf if, in the Authority’s opinion, such performance would render the application of this Act difficult or ineffective.
Before rendering its decision, the Authority must notify the prior notice prescribed by section 5 of the Act respecting administrative justice to the company in writing and grant the latter at least 15 days to submit observations.
2018, c. 232018, c. 23, s. 395.