Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 383 from 2012-05-24 to 2012-12-13:

Marginal note:When approval not required

  •  (1) Despite sections 373 and 379, the approval of the Minister is not required if

    • (a) the Superintendent has, by order, directed the bank to increase its capital and shares of the bank are issued and acquired in accordance with the terms and conditions, if any, that may be specified in the order; or

    • (b) a person who controls, within the meaning of paragraph 3(1)(a), the bank acquires additional shares of the bank.

  • Marginal note:Exception

    (2) Paragraph (1)(a) does not apply in respect of a bank with equity of twelve billion dollars or more.

  • 1991, c. 46, s. 383
  • 2001, c. 9, s. 98
  • 2007, c. 6, s. 132
  • 2012, c. 5, s. 24

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