Cooperative Credit Associations Act

Marginal note:Definitions

• 260 (1) In this section and sections 261 to 267,

  business combination

  business combination means an acquisition of all or substantially all of the assets of one body corporate by another, an amalgamation of two or more bodies corporate or any similar reorganization between two or more bodies corporate; (regroupement d’entreprises)

  call

  call means an option, transferable by delivery, to demand delivery of a specified number or amount of shares at a fixed price within a specified time but does not include an option or right to acquire shares of the body corporate that granted the option or right to acquire; (option d’achat)

  distributing association

  distributing association[Repealed, 2005, c. 54, s. 192]

  insider

  insider[Repealed, 2005, c. 54, s. 192]

  officer

  officer, in relation to an association, means

  • (a) an officer as defined in paragraph (a) of the definition “officer” in section 2, or

  • (b) any natural person who performs functions for the association similar to those performed by a person referred to in paragraph (a) of the definition “officer” in section 2; (dirigeant d’une association)

  put

  put means an option, transferable by delivery, to deliver a specified number or amount of shares at a fixed price within a specified time; (option de vente)

  share

  share means a voting share and includes

  • (a) a security currently convertible into a voting share, and

  • (b) a currently exercisable option or a right to acquire a voting share or a security referred to in paragraph (a),

  but does not include a membership share. (action)

• Marginal note:Control

  (2) For the purposes of this section and sections 261 to 267, a person controls a body corporate when the person controls the body corporate within the meaning of section 3, determined without regard to paragraph 3(1)(e).

• (3) and (4) [Repealed, 2005, c. 54, s. 192]