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S-29.02 - Trust Companies and Savings Companies Act
FrançaisArticle 6
Versions de la disposition
6. For the purposes of this Act, “holder of control” of the following groups means
1° in the case of a business corporation, the holder of shares conferring more than 50% of the voting rights or whoever can otherwise choose the majority of its directors;
2° in the case of a federation of mutual companies, its member mutual companies;
3° in the case of a partnership that is a limited partnership, the general partner, and in the case of any other type of partnership, the partner who can determine the outcome of collective decisions, if applicable;
4° in the case of a trust, the trustee; and
5° in the case of co-owners in indivision, the manager or, in the absence of a manager, if one of the co-owners can determine the outcome of collective decisions made by majority vote, that co-owner.
No one is the holder of control of a financial services cooperative, of a mutual company or of any other group that confers voting rights on a one member, one vote basis.
In force: 2019-06-13
6. For the purposes of this Act, “holder of control” of the following groups means
1° in the case of a business corporation, the holder of shares conferring more than 50% of the voting rights or whoever can otherwise choose the majority of its directors;
2° in the case of a federation of mutual companies, its member mutual companies;
3° in the case of a partnership that is a limited partnership, the general partner, and in the case of any other type of partnership, the partner who can determine the outcome of collective decisions, if applicable;
4° in the case of a trust, the trustee; and
5° in the case of co-owners in indivision, the manager or, in the absence of a manager, if one of the co-owners can determine the outcome of collective decisions made by majority vote, that co-owner.
No one is the holder of control of a financial services cooperative, of a mutual company or of any other group that confers voting rights on a one member, one vote basis.
