A-32.1, r. 0.1 - Regulation respecting the acquisition and holding of securities or participations or a share of a right of ownership by certain financial institutions in excess of the limits imposed

Section 2.1 Disposition versions

2024-11-14

2.1. An authorized financial institution may acquire and hold contributed capital securities of a legal person if

(1)  the legal person’s principal activity is the offering or the soliciting of shares in investment portfolios, the making of loans, the distribution of securities, including bonds or contributed capital securities of legal persons, factoring, leasing, the offering of computing services or actuarial advisory services;

(2)  the legal person’s principal activity is the purchase, holding, leasing, sale, operation or administration of an immovable;

(3)  the legal person’s principal activity is complementary to the distribution of certain insurance products such as travel assistance, legal assistance and road assistance;

(4)  the legal person is registered as a firm under the Act respecting the distribution of financial products and services (chapter D-9.2);

(5)  the legal person offers financial products and services only outside Québec; or

(6)  the legal person is registered as a mutual fund dealer under the Securities Act (chapter V-1.1) or registered as such under extra-provincial securities laws within the meaning of section 305.1 of that Act.

An authorized financial institution may also acquire and hold contributed capital securities of a partnership or participations in a trust if the principal activity of the trust or partnership corresponds to one of the activities referred to in subparagraphs 1 to 3 of the first paragraph as well as, in cases where that partnership is a limited partnership, the contributed capital securities of its general partner.

O.C. 1519-2024, s. 2.