1. Any institution or legal person or loan and investment society, duly constituted under the laws of the Parliament of Great Britain and Ireland, or of the Dominion of Canada, or of the Legislature of any of the other provinces of Canada, wherein institutions of the same kind constituted as legal persons in Québec may exercise the same rights, for the purpose of lending or investing moneys, and authorized by statute, charter or constituting act to lend money in Québec, may receive a license from the Minister authorizing it to carry on business therein.
No savings company within the meaning of the Act respecting trust companies and savings companies (chapter S-29.01) is subject to this Act. The licence issued to any such company before 18 May 1988 is revoked on the said date.
R. S. 1964, c. 289, s. 1; 1966-67, c. 72, s. 23; 1975, c. 76, s. 11; 1981, c. 9, s. 24; 1982, c. 52, s. 252; 1987, c. 95, s. 380; 1999, c. 40, s. 306.