S-29.02 - Trust Companies and Savings Companies Act

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68. No authorized Québec trust company may acquire or hold contributed capital securities issued by a legal person or a partnership or participations in a trust in excess of
(1)  30% of the value of those securities or participations; or
(2)  the number of those securities or participations allowing it to exercise more than 30% of the voting rights.
Nor may an authorized Québec trust company be the co-owner of property if its share of the right of ownership is greater than 30% without exceeding 50%, alone or together with the shares of groups affiliated with it.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
68. No authorized Québec trust company may acquire or hold contributed capital securities issued by a legal person or a partnership or participations in a trust in excess of
(1)  30% of the value of those securities or participations; or
(2)  the number of those securities or participations allowing it to exercise more than 30% of the voting rights.
Nor may an authorized Québec trust company be the co-owner of property if its share of the right of ownership is greater than 30% without exceeding 50%, alone or together with the shares of groups affiliated with it.
2018, c. 232018, c. 23, s. 395.