C-67.3, r. 1 - Regulation respecting the acquisition of shares by certain financial services cooperatives

Section 6 Disposition versions

2012-09-01

6. . A financial services cooperative may also acquire shares, directly or through a legal person or a partnership it controls, where:

(1)  for a period not exceeding 1 year, it acquires 30% to 50% of the shares of a legal person;

(2)  for a period not exceeding 1 year, it acquires all or part of the shares of a legal person whose activities are exclusively commercial or industrial.

The voting rights attached to the shares of the legal person referred to in subparagraphs 1 and 2 of the first paragraph may enable the financial services cooperative to elect more than one-third of the directors of that legal person.

O.C. 691-2001, s. 6.