I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 40.49 Disposition versions

2018-07-13

40.49. The Authority may order the transfer, in its favour, in favour of the bridge institution or in favour of the asset management company, of any part that it determines of the shares and subordinated debt obligations issued by the deposit institutions belonging to the cooperative group.

The transfer takes place as soon as it is entered in the issuer’s registers and, as a result, the acquirer of those shares or obligations becomes a protected purchaser within the meaning of the Act respecting the transfer of securities and the establishment of security entitlements (chapter T-11.002).

2018, c. 23, s. 376.