C-4.1 - Savings and Credit Unions Act

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364. In addition to the other powers it may exercise under this Act, every federation may
(1)  develop policies on any matter enabling the credit unions affiliated with it to attain their objects and practise sound and prudent management;
(2)  examine the books and accounts of any credit union affiliated with it;
(3)  enter into an agreement with the board of directors of a credit union affiliated with it entrusting the federation with the supervision, direction or administration of the affairs of the credit union for a specified period;
(4)  participate with any credit union affiliated with it in the establishment and management of the services that the credit union may provide;
(5)  establish a pension plan under paragraph 6 of section 214 for the benefit of the employees of a credit union affiliated with it, and their spouses and dependants;
(6)  act, for the purposes of this Act, as the temporary or provisional administrator or as the liquidator of a credit union affiliated with it;
(7)  provide appropriate services to persons wishing to incorporate a credit union;
(8)  acquire the qualifying shares required to become a member of a confederation;
(8.1)  establish one or more classes of preferred shares;
(9)  guarantee, according to law, the undertakings of any credit union affiliated with it;
(10)  provide, as the mandatary of a credit union affiliated with it and with the consent thereof, any service the credit union may offer;
(11)  (paragraph repealed);
(12)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, become a member of a securities clearing-house recognized by the Commission des valeurs mobilières du Québec as a self-regulatory organization or of any association the object of which is to organize a clearing and settlement system for instruments of payment or securities transactions, and provide the necessary guarantees;
(13)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, act in the stead of La Caisse centrale Desjardins du Québec, if the latter is in default, on behalf of the members of La Caisse centrale Desjardins du Québec and any other person for the clearing and settlement of instruments of payment or securities transactions, and provide the necessary guarantees;
(14)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, secure solidarily the obligations of La Caisse centrale Desjardins du Québec, those of the other federations that are members of the latter and those of any other person, where La Caisse centrale Desjardins du Québec acts on behalf of its members and any other person for the clearing and settlement of instruments of payment or securities transactions;
(15)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, hypothecate or otherwise give as security property held by it for the purposes referred to in paragraphs 12, 13 and 14.
1988, c. 64, s. 364; 1994, c. 38, s. 9; 1996, c. 69, s. 111; 1999, c. 72, s. 5.
364. In addition to the other powers it may exercise under this Act, every federation may
(1)  develop policies on any matter enabling the credit unions affiliated with it to attain their objects and practise sound and prudent management;
(2)  examine the books and accounts of any credit union affiliated with it;
(3)  enter into an agreement with the board of directors of a credit union affiliated with it entrusting the federation with the supervision, direction or administration of the affairs of the credit union for a specified period;
(4)  participate with any credit union affiliated with it in the establishment and management of the services that the credit union may provide;
(5)  establish a pension plan under paragraph 6 of section 214 for the benefit of the employees of a credit union affiliated with it, and their spouses and dependants;
(6)  act, for the purposes of this Act, as the temporary or provisional administrator or as the liquidator of a credit union affiliated with it;
(7)  provide appropriate services to persons wishing to incorporate a credit union;
(8)  acquire the qualifying shares required to become a member of a confederation;
(8.1)  establish one or more classes of preferred shares;
(9)  guarantee, according to law, the undertakings of any credit union affiliated with it;
(10)  provide, as the mandatary of a credit union affiliated with it and with the consent thereof, any service the credit union may offer;
(11)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, transfer to La Caisse centrale Desjardins du Québec or acquire from it any loan held by the federation or La Caisse centrale Desjardins du Québec;
(12)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, become a member of a securities clearing-house recognized by the Commission des valeurs mobilières du Québec as a self-regulatory organization or of any association the object of which is to organize a clearing and settlement system for instruments of payment or securities transactions, and provide the necessary guarantees;
(13)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, act in the stead of La Caisse centrale Desjardins du Québec, if the latter is in default, on behalf of the members of La Caisse centrale Desjardins du Québec and any other person for the clearing and settlement of instruments of payment or securities transactions, and provide the necessary guarantees;
(14)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, secure solidarily the obligations of La Caisse centrale Desjardins du Québec, those of the other federations that are members of the latter and those of any other person, where La Caisse centrale Desjardins du Québec acts on behalf of its members and any other person for the clearing and settlement of instruments of payment or securities transactions;
(15)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, hypothecate or otherwise give as security property held by it for the purposes referred to in paragraphs 12, 13 and 14.
1988, c. 64, s. 364; 1994, c. 38, s. 9; 1996, c. 69, s. 111.
364. In addition to the other powers it may exercise under this Act, every federation may
(1)  develop policies on any matter enabling the credit unions affiliated with it to attain their objects;
(2)  examine the books and accounts of any credit union affiliated with it;
(3)  make a convention with any credit union affiliated with it for the supervision, administration or management of its affairs, including those of its credit committee, for a specified period;
(4)  participate with any credit union affiliated with it in the establishment and management of the services that the credit union may provide;
(5)  establish a pension plan under paragraph 6 of section 214 for the benefit of the employees of a credit union affiliated with it, and their spouses and dependants;
(6)  act, for the purposes of this Act, as the provisional administrator or liquidator of a credit union affiliated with it;
(7)  provide appropriate services to persons wishing to incorporate a credit union;
(8)  acquire the qualifying shares required to become a member of a confederation;
(8.1)  establish one or more classes of preferred shares;
(9)  guarantee, according to law, the undertakings of any credit union affiliated with it;
(10)  provide, as the mandatary of a credit union affiliated with it and with the consent thereof, any service the credit union may offer;
(11)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, transfer to La Caisse centrale Desjardins du Québec or acquire from it any loan held by the federation or La Caisse centrale Desjardins du Québec;
(12)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, become a member of a securities clearing-house recognized by the Commission des valeurs mobilières du Québec as a self-regulatory organization or of any association the object of which is to organize a clearing and settlement system for instruments of payment or securities transactions, and provide the necessary guarantees;
(13)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, act in the stead of La Caisse centrale Desjardins du Québec, if the latter is in default, on behalf of the members of La Caisse centrale Desjardins du Québec and any other person for the clearing and settlement of instruments of payment or securities transactions, and provide the necessary guarantees;
(14)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, secure jointly and severally the obligations of La Caisse centrale Desjardins du Québec, those of the other federations that are members of the latter and those of any other person, where La Caisse centrale Desjardins du Québec acts on behalf of its members and any other person for the clearing and settlement of instruments of payment or securities transactions;
(15)  with the authorization of the Inspector General and subject to such conditions and restrictions as he may determine, where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, hypothecate or otherwise give as security property held by it for the purposes referred to in paragraphs 12, 13 and 14.
1988, c. 64, s. 364; 1994, c. 38, s. 9.
364. In addition to the other powers it may exercise under this Act, every federation may
(1)  develop policies on any matter enabling the credit unions affiliated with it to attain their objects;
(2)  examine the books and accounts of any credit union affiliated with it;
(3)  make a convention with any credit union affiliated with it for the supervision, administration or management of its affairs, including those of its credit committee, for a specified period;
(4)  participate with any credit union affiliated with it in the establishment and management of the services that the credit union may provide;
(5)  establish a pension plan under paragraph 6 of section 214 for the benefit of the employees of a credit union affiliated with it, and their spouses and dependants;
(6)  act, for the purposes of this Act, as the provisional administrator or liquidator of a credit union affiliated with it;
(7)  provide appropriate services to persons wishing to incorporate a credit union;
(8)  acquire the qualifying shares required to become a member of a confederation;
(9)  guarantee, according to law, the undertakings of any credit union affiliated with it;
(10)  provide, as the mandatary of a credit union affiliated with it and with the consent thereof, any service the credit union may offer;
(11)  where it is affiliated with La Confédération des caisses populaires et d’économie Desjardins du Québec, transfer to La Caisse centrale Desjardins du Québec or acquire from it any loan held by the federation or La Caisse centrale Desjardins du Québec.
1988, c. 64, s. 364.