S-29.01 - Act respecting trust companies and savings companies

Section 129 Disposition versions

1999-10-22

129. Notwithstanding section 120, a company or its subsidiary may be party to a contract with a restricted party where only nominal sums are involved or the object of the contract is

(1)  services connected with the management or carrying on of their activities;

(2)  business or professional services which they offer to the public in the ordinary course of business and not involving any loan, acquisition of securities or transfer of assets;

(3)  property which they use for their own requirements;

(4)  conditions of employment of an employee or officer, pension funds, insurance plans and anything else connected with a labour contract;

(5)  anything else that may be determined by regulation of the Government.

A contract contemplated in subparagraph 1, 2 or 3 of the first paragraph must be made on competitive terms or terms favourable to the company or the subsidiary.

1987, c. 95, s. 129; 1999, c. 40, s. 304.

1988-06-09

129. Notwithstanding section 120, a company or its subsidiary may be party to a contract with a restricted party where only nominal sums are involved or the object of the contract is

(1)  services connected with the management or carrying on of their activities;

(2)  business or professionnal services which they offer to the public in the ordinary course of business and not involving any loan, acquisition of securities or transfer of assets;

(3)  movable or immovable property which they use for their own requirements;

(4)  conditions of employment of an employee or officer, pension funds, insurance plans and anything else connected with a labour contract;

(5)  anything else that may be determined by regulation of the Government.

A contract contemplated in subparagraph 1, 2 or 3 of the first paragraph must be made on competitive terms or terms favourable to the company or the subsidiary.

1987, c. 95, s. 129.