Section 1 (1) definition of "spouse" BEFORE amended by 2000-24-6, effective November 1, 2000 (BC Reg 280/2000).

"spouse" means each of 2 persons who

(a) are married to each other, or

(b) are living together as if married, having done so continuously throughout the immediately preceding 2 years;

  Section 1 (1) definition of "public body", paragraphs (a) and (b) BEFORE amended by 2003-52-45, effective January 1, 2004 (BC Reg 465/2003, repealing BC Reg 428/2003).

(a) a municipality or regional district under the Local Government Act,

(b) the City of Vancouver,

  Section 1 (1) definition of "Company Act" was added by 2003-70-125(a), effective March 29, 2004 (BC Reg 64/2004).

  Section 1 (4) was added by 2003-70-125(b), effective March 29, 2004 (BC Reg 64/2004).

  Section 1 (1) definition of "tribunal" was added by 2003-51-18, effective June 1, 2004 (BC Reg 222/2004).

  Section 1 (1) definition of "credit union" BEFORE amended by 2004-48-1(a), effective December 31, 2004 (BC Reg 597/2004).

"credit union" means a corporation incorporated as a credit union under this Act, under the Credit Union Act, R.S.B.C. 1979, c. 79, or under a former Credit Unions Act, and includes a central credit union;

  Section 1 (1) definition of "deposit business" (part) BEFORE amended by 2004-48-1(b), effective December 31, 2004 (BC Reg 597/2004).

"deposit business" means the business of receiving on deposit money that is repayable

  Section 1 (1) definition of "extra provincial credit union" was added by 2004-48-1(c), effective December 31, 2004 (BC Reg 597/2004).

  Section 1 (1) definition of "central credit union" BEFORE amended by 2005-35-5(a), effective November 24, 2005 (Royal Assent).

"central credit union" means a credit union in which membership is restricted to credit unions, other corporations, public bodies, the Crown in right of Canada or British Columbia or in any other right;

  Section 1 (1) definition of "special resolution" BEFORE amended by 2005-35-5(b), effective November 24, 2005 (Royal Assent).

"special resolution" means a resolution of a credit union, of which the notice required under section 78 has been given, passed by a majority of not less than 2/3 of the votes cast by members who, being entitled to do so,

(a) if the rules of the credit union provide as set out in section 72 or 73, vote by any of the methods permitted under those rules, or

(b) if the rules of the credit union do not provide as set out in section 72 or 73, vote at a general meeting

(i)  in person, or

(ii)  if permitted by section 70 (3), through a representative who is present in person;

  Section 1 (1) definition of "trust business" BEFORE amended by 2007-34-72, effective September 1, 2011 (BC Reg 14/2011).

Note: 2007-34-72 was amended by 2009-22-26, effective October 29, 2009 (Royal Assent).

"trust business" means the business of providing or offering to provide services to the public as any of the following:

(a) trustee, executor or administrator;

(b) guardian of a minor's estate;

(c) committee of a mentally disordered person's estate;

(d) representative under the Representation Agreement Act.

  Section 1 (1) definitions "auditor", "charter", "class meeting", "corporation", "debt obligation", "director", "document", "financial statements", "general meeting", "insolvent", "mortgage", "ordinary resolution", "printed", "proxy", "registrar", "series meeting" and "special rights or restrictions" were added by 2011-29-19(b), effective November 1, 2012 (BC Reg 208/2012).

  Section 1 (1) definition of "Company Act" BEFORE amended by 2011-29-19(c), effective November 1, 2012 (BC Reg 208/2012).

"Company Act" means, except in subsection (4) of this section, the Company Act, R.S.B.C. 1996, c. 62, as that Act is applied under subsection (4) of this section;

  Section 1 (2) to (4) BEFORE repealed by 2011-29-19(d), effective November 1, 2012 (BC Reg 208/2012).

(2)  For the purposes of this Act and the Company Act as it applies for the purposes of this Act,

(a) an affiliate of a credit union is deemed to be affiliated with all corporations with which the credit union is affiliated, and

(b) a credit union is deemed to be affiliated with all corporations with which an affiliate of the credit union is affiliated.

(3)  Subject to subsections (1) and (2) and unless the context otherwise requires, words and expressions used in the Company Act, whether or not defined in that Act, have the same meaning for the purposes of this Act as they have in the Company Act.

(4)  Despite the repeal of the Company Act, R.S.B.C. 1996, c. 62,

(a) a reference in this Act to the Company Act is deemed to be a reference to the Company Act, R.S.B.C. 1996, c. 62, and

(b) the provisions of the Company Act, R.S.B.C. 1996, c. 62, continue to apply, as though that Act had not been repealed, to and in respect of every credit union in the manner and to the extent provided by this Act.

  Section 1 (1) definition of "spouse", paragraph (b) BEFORE amended by 2011-25-319, effective March 18, 2013 (BC Reg 131/2012).

(b) is living and cohabiting with another person in a marriage-like relationship, including a marriage-like relationship between persons of the same gender;

  Section 1 (1) definition of "Authority" was added by 2019-14-32(a), effective June 4, 2019 (BC Reg 116/2019).

  Section 1 (1) definition of "commission" BEFORE repealed by 2019-14-32(b), effective November 1, 2019 (BC Reg 197/2019).

"commission" means the Financial Institutions Commission under the Financial Institutions Act;

  Section 1 (1) (part) BEFORE amended by 2011-29-19(a), effective November 28, 2019 (Royal Assent).

Note: 2011-29-19(a) was amended by 2019-39-129, effective November 28, 2019 (Royal Assent).

(1) In this Act and the Company Act as it applies for the purposes of this Act:

  Section 1 (1) definition of "depositor" BEFORE amended by 2019-39-81, effective January 27, 2020 (BC Reg 7/2020).

"depositor" means a person who has money on deposit with a credit union, and includes a person who holds non-equity shares in a credit union;

  Section 1 (1) definitions of "electronic meeting", "fully electronic meeting" and "partially electronic meeting" were added by 2021-14-27(a), effective May 20, 2021 (Royal Assent).

  Section 1 (1) definition of "special resolution", paragraph (a) (ii) (B) and (C) BEFORE amended by 2021-14-27(b), effective May 20, 2021 (Royal Assent).

(B) through a representative who is present in person, if permitted by section 70 (3), or

(C) by a delegate who is present in person, if, in the case of a central credit union, the rules of the central credit union provide as set out in section 92 (1) (b) for voting by delegates, or

  Section 1 (1) definition of "special resolution", paragraph (b) (ii) (B) and (C) BEFORE amended by 2021-14-27(b), effective May 20, 2021 (Royal Assent).

(B) through a representative who is present in person, if permitted by section 70 (3), or

(C) by a delegate who is present in person, if the rules of the central credit union provide as set out in section 92 (1) (b) for voting by delegates;

  Section 1 (1) definition of "special resolution", paragraph (a) (ii) (A) BEFORE amended by 2021-14-65,Sch, effective May 20, 2021 (Royal Assent).

(A) in person,

  Section 1 (1) definition of "special resolution", paragraph (b) (ii) (A) BEFORE amended by 2021-14-65,Sch, effective May 20, 2021 (Royal Assent).

(A) in person,

  Section 2 BEFORE amended by 2003-70-126, effective March 29, 2004 (BC Reg 64/2004).

  Section 2 BEFORE repealed by 2011-29-20, effective November 1, 2012 (BC Reg 208/2012).

  Section 2.1 (1) BEFORE amended by 2019-39-82, effective February 17, 2022 (BC Reg 32/2022).

(1) In this section, "voting share" means a share of a class of shares of a corporation that carries the right to vote under all circumstances on a resolution electing directors, and includes a share of a class of shares of a corporation that carries the right to vote on such a resolution because of the occurrence of a contingency that has occurred and is continuing.

  Section 3 BEFORE repealed by 2011-29-20, effective November 1, 2012 (BC Reg 208/2012).

  Section 4 (7) BEFORE amended by 2003-96-10, effective February 5, 2004 (BC Reg 40/2004).

(7)  A reference to "subsidiary" in this Act or in the Company Act must be read as including a corporation, other than a central credit union, if the corporation is controlled, within the meaning of subsection (8), by

(a) a credit union and one or more other credit unions, or

(b) a credit union and one or more other credit unions, and one or more other corporations if each of the other corporations is controlled by one or more credit unions,

and "holding company" has the corresponding meaning.

  Section 4 (5) BEFORE repealed by 2004-48-2(a), effective December 31, 2004 (BC Reg 597/2004).

(5)  A reference to "minister" in the Company Act must be read as a reference to the minister who is responsible for the administration of this Act.

  Section 4 (7) (part) BEFORE amended by 2004-48-2(b), effective December 31, 2004 (BC Reg 597/2004).

(7)  A reference to "subsidiary" in this Act or in the Company Act must be read as including a corporation, other than a central credit union or an entity described in section 67 (2) (b) of the Financial Institutions Act that is designated by regulation under that Act, if the corporation is controlled, within the meaning of subsection (8), by

  Section 4 BEFORE repealed by 2011-29-20, effective November 1, 2012 (BC Reg 208/2012).

  Section 5 (5) BEFORE amended by 2004-48-3(a) and (b), effective December 31, 2004 (BC Reg 597/2004).

(5)  The references to "registrar" in section 223 of the Company Act must be read as references to "registrar and Superintendent of Financial Institutions".

  Section 5 (6) BEFORE amended by 2004-48-3(c), effective December 31, 2004 (BC Reg 597/2004).

(6)  The reference to "the minister" in section 271 (1) of the Company Act must be read as a reference to "the minister, the Superintendent of Financial Institutions or the Financial Institutions Commission".

  Section 5 BEFORE repealed by 2011-29-20, effective November 1, 2012 (BC Reg 208/2012).

  Section 6 (2) (c) and (d) BEFORE amended and (e) was added by 2011-29-21, effective November 1, 2012 (BC Reg 208/2012).

(c) contain the agreement of each subscriber to be a member of the credit union, and

(d) contain the restrictions, if any, other than those imposed under this Act or the Financial Institutions Act, on the business to be carried on by the credit union or on the powers of the credit union.

  Section 6 (1) (e) BEFORE amended by 2019-39-83, effective February 17, 2022 (BC Reg 32/2022).

(e) adopting a common bond of membership that meets the requirements of section 40 (1), and

  Section 7 (2) (a) and (b) BEFORE amended and (c) was added by 2011-29-22, effective November 1, 2012 (BC Reg 208/2012).

(a) printed or typewritten, and

(b) divided into paragraphs numbered consecutively.

  Section 8 sandwich text BEFORE amended by 2011-29-23, effective November 1, 2012 (BC Reg 208/2012).

the registrar, subject to section 11, must register the constitution, common bond of membership and rules and enter the name of the credit union in the register of financial institutions.

  Section 8 (b) BEFORE amended by 2019-39-84(a), effective February 17, 2022 (BC Reg 32/2022).

(b) the common bond of membership,

  Section 8 sandwich text BEFORE amended by 2019-39-84(b), effective February 17, 2022 (BC Reg 32/2022).

the registrar, subject to section 11, must file the constitution, common bond of membership and rules and enter the name of the credit union in the register of financial institutions.

  Section 8.1 was enacted by 2011-29-24, effective November 1, 2012 (BC Reg 208/2012).

  Section 9 BEFORE amended by 2011-29-25, effective November 1, 2012 (BC Reg 208/2012).

  Section 9 (part) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

  Section 9.1 was enacted by 2011-29-26, effective November 1, 2012 (BC Reg 208/2012).

  Section 11 (2) BEFORE amended by 2004-48-4(a), effective December 31, 2004 (BC Reg 597/2004).

(2)  The registrar must not register the constitution and rules of a credit union or enter its name in the register of financial institutions without first receiving the consent of

(a) the commission, and

(b) the minister

to the incorporation.

  Section 11 (3) (j) and (k) were added by 2004-48-4(b), effective December 31, 2004 (BC Reg 597/2004).

  Section 11 (4) BEFORE repealed by 2004-48-4(c), effective December 31, 2004 (BC Reg 597/2004).

(4)  The minister must not consent to the incorporation of a credit union if the minister

(a) has not received a report from the commission that the requirements of subsection (3) (a) to (i) have been met,

(b) is not satisfied that

(i)  the formation of the proposed credit union will be for the convenience and advantage of the members, and

(ii)  the proposed credit union will be operated in a manner in which the investments and deposits of members will be safeguarded without likelihood of a claim on the fund, or

(c) believes on reasonable grounds that a proposed director or senior officer of the credit union is an individual who, in the public interest, ought not to be in a position to control or influence a credit union.

  Section 11 (5) BEFORE amended by 2004-48-4(d), effective December 31, 2004 (BC Reg 597/2004).

(5)  The commission may conduct, and on the request of the minister must conduct, an investigation and a subscriber must provide to the commission information, verifications, forecasts of business operations or documents that the commission considers necessary in relation to the proposed incorporation.

  Section 11 BEFORE amended by 2011-29-27, effective November 1, 2012 (BC Reg 208/2012).

  Section 11 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 11 (3) (e) BEFORE amended by 2021-2-137, effective August 1, 2021 (BC Reg 208/2021).

(e) each of the proposed first directors and senior officers of the credit union has completed and submitted to the Authority a personal information return in the prescribed form and disclosing the prescribed information,

  Section 11 (5) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(5) The Authority may conduct an investigation and an applicant must provide to the Authority information, verifications, forecasts of business operations or documents that the Authority considers necessary in relation to the proposed incorporation.

  Section 11 (3) (a) (i) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

(i) submitted to the Authority the proposed constitution, common bond of membership and rules of the proposed credit union, and

  Section 11 (3) (h) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

(h) the proposed common bond of membership complies with this Act,

  Section 11 (3) (b) (i) BEFORE amended by 2019-39-86, effective February 17, 2022 (BC Reg 32/2022).

(i) specifying the names and addresses of the individuals proposed by the applicants as the first directors and senior officers of the proposed credit union,

  Section 12 BEFORE re-enacted by 2011-29-28, effective November 1, 2012 (BC Reg 208/2012).

  Section 12.1 and 12.2 were enacted by 2011-29-28, effective November 1, 2012 (BC Reg 208/2012).

  Section 13.1 was enacted by 2011-29-29, effective November 1, 2012 (BC Reg 208/2012).

  Section 14 (2) BEFORE amended by 2011-29-30, effective November 1, 2012 (BC Reg 208/2012).

(2)  The name of a credit union is subject to the approval of the commission.

  Section 14 (1) and (3) (part) BEFORE amended by 2018-39-7, effective October 31, 2018 (Royal Assent).

(1) A credit union that proposes or is authorized to carry on business must have and use a name that includes the words "credit union", "caisse populaire" or "caisse d'economie".

(3) A person must not assume or use in British Columbia, or carry on any business in British Columbia under, a name that includes the words "credit union", "caisse populaire" or "caisse d'economie" or use any words in connection with the business of the person in a way likely

  Section 14 (2) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) The name of a credit union must be reserved under section 14.1 and is subject to the approval of the commission.

  Section 14 (2) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) The name of a credit union must be reserved under section 14.1 and is subject to the approval of the Authority.

  Section 14 (1) and (2) BEFORE amended by 2019-39-88, effective February 17, 2022 (BC Reg 32/2022).

(1) A credit union that proposes or is authorized to carry on business must have and use a name that includes the words "credit union", "caisse populaire" or "caisse d'économie".

(2) The name of a credit union must be reserved under section 14.1 and is subject to the approval of the superintendent.

  Section 14.1 and 14.2 were enacted by 2011-29-31, effective November 1, 2012 (BC Reg 208/2012).

  Section 14.1 BEFORE amended by 2019-39-88, effective February 17, 2022 (BC Reg 32/2022).

  Section 14.2 BEFORE amended by 2019-39-88, effective February 17, 2022 (BC Reg 32/2022).

  Section 14.3 was enacted by 2019-39-89, effective February 17, 2022 (BC Reg 32/2022).

  Section 15 BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

  Section 15 BEFORE repealed by 2011-29-32, effective November 1, 2012 (BC Reg 208/2012).

  Section 15.1 was enacted by 2004-48-6, effective December 31, 2004 (BC Reg 597/2004).

  Section 15.1 (2) (b) BEFORE amended by 2016-4-6, effective September 1, 2016 (BC Reg 191/2016).

(b) be executed under seal and signed by an officer or director of the extraprovincial credit union and verified by an affidavit of the person signing the instrument of continuation, and

  Section 15.1 (4), (5) and (6) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(4) If the registrar receives from an extraprovincial credit union under subsection (1)

(a) an instrument of continuation that complies with subsections (2) and (3),

(b) the prescribed fees, and

(c) the consent of the commission and the deposit insurance corporation,

the registrar must file one duplicate of the instrument of continuation and issue to the extraprovincial credit union a certificate of continuation to which the registrar must affix the other duplicate.

(5) The commission must not consent under subsection (4) (c)

(a) unless

(i) the directors of the extraprovincial credit union have submitted to the commission

(A) the name and address of the extraprovincial credit union,

(B) the financial statements of the extraprovincial credit union,

(C) the constitution and rules proposed for the continued credit union, and

(D) a plan for the continued credit union

(I) specifying whether the business proposed to be carried on is deposit business or trust business or both deposit business and trust business,

(II) specifying the services that the continued credit union intends to offer to the public,

(III) describing in detail satisfactory to the commission the period within which the credit union will meet the requirements for being issued a business authorization under the Financial Institutions Act and specifying the preliminary activities, not being deposit business or trust business, that the credit union proposes to carry on during that period, and

(IV) containing other information required by the commission,

(ii) the commission approves the constitution and rules submitted under paragraph (a), and

(iii) each proposed director and senior officer of the continued credit union has completed and submitted to the commission a personal information return in the form established by the commission that discloses the information required by the commission, and

(b) unless the commission believes on reasonable grounds that it is in the public interest to consent to the continuation.

(6) In addition to the requirements under subsection (5), the commission must not give a consent referred to in subsection (4) (c) unless satisfied that the extraprovincial credit union, in its primary jurisdiction as defined in section 157 of the Financial Institutions Act, is licensed, registered or authorized to carry on deposit business or trust business.

  Section 15.1 (5) (a) (iii) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(iii) each proposed director and senior officer of the continued credit union has completed and submitted to the Authority a personal information return in the form established by the Authority that discloses the information required by the Authority, and

  Section 15.2 was enacted by 2004-48-6, effective December 31, 2004 (BC Reg 597/2004).

  Section 15.2 (1) (b) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(b) the consent given by the commission and the deposit insurance corporation for the purpose of this section, and

  Section 15.2 (2) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) A credit union ceases to be a credit union under this Act on and after the date on which it is continued under the laws of the other jurisdiction and the credit union must promptly file with the registrar and the commission a copy of the instrument of continuation certified by the proper officer of the other jurisdiction.

  Section 15.2 (2) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) A credit union ceases to be a credit union under this Act on and after the date on which it is continued under the laws of the other jurisdiction and the credit union must promptly file with the registrar and the Authority a copy of the instrument of continuation certified by the proper officer of the other jurisdiction.

  Section 15.3 was enacted by 2004-48-6, effective December 31, 2004 (BC Reg 597/2004).

  Section 16 (5) BEFORE amended by 2011-29-33, effective November 1, 2012 (BC Reg 208/2012).

(5)  If a transferring credit union to which subsection (4) applies has provided in its rules as set out in section 58 (2) respecting rights or special rights attached to its issued equity shares, then, on a separate resolution required under subsection (4) (b) (ii), each holder of equity shares has one vote in respect of each equity share held by that holder.

  Section 16 (8) (a) BEFORE amended by 2011-29-34, effective November 1, 2012 (BC Reg 208/2012).

(a) register the agreement or the agreement and a certified copy of each resolution, as the case may be,

  Section 16 (8) (c) BEFORE amended by 2011-29-35, effective November 1, 2012 (BC Reg 208/2012).

(c) publish in the Gazette a notice of the business acquisition showing the name and registered office of the acquiring credit union, the name of the transferring credit union and the date of the business acquisition.

  Section 16 (2) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) A transferring credit union that intends, or under section 277 (g) of the Financial Institutions Act is ordered, to dispose of all or substantially all of its assets to an acquiring credit union, together with the acquiring credit union, must propose and submit to the commission an asset transfer agreement that specifies the following:

  Section 16 (2) (g) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(g) that the date of disposition to the acquiring credit union is to be the date stipulated under subsection (7) by the commission as the effective date of the asset transfer agreement.

  Section 16 (3) and (4) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(3) On receiving a proposed asset transfer agreement submitted to the commission, including one where the transferring credit union is acting under section 17 through an administrator,

(a) the commission may consent to the proposed asset transfer agreement, or

(b) if the commission considers that the proposed asset transfer agreement is contrary to the interests of the transferring credit union, the acquiring credit union or the members of either, the commission may refuse to consent to it.

(4) If the commission consents under subsection (3) to a proposed asset transfer agreement under which the transferring credit union is one that is not acting under section 17 through an administrator, then this subsection applies to the transferring credit union, and it must

  Section 16 (6), (7) and (8) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(6) If the members or the members and other equity shareholders, as the case may be, of a transferring credit union to which subsection (4) applies have approved the proposed asset transfer agreement in compliance with subsections (4) and (5), the transferring credit union may enter into the proposed asset transfer agreement, which, when executed by the transferring credit union and the acquiring credit union, must be delivered to the commission together with a certified copy of each of any resolutions required in respect of a transferring credit union to which subsection (4) applies.

(7) On being satisfied

(a) as to the disposition of any assets not being disposed of under an asset transfer agreement, including one where the transferring credit union is acting under section 17 through an administrator, and

(b) that any liabilities that are not being assumed under the asset transfer agreement by the acquiring credit union have been adequately dealt with,

the commission must stipulate, as the effective date of the asset transfer agreement, a date not earlier than the date the commission receives the executed asset transfer agreement, and the commission must deliver

(c) the executed asset transfer agreement, and

(d) a certified copy of each of any resolutions required under subsection (4)

to the registrar together with written notice of the stipulated effective date.

(8) On receiving the executed asset transfer agreement, or the executed asset transfer agreement and a certified copy of each of any resolutions, delivered by the commission under subsection (7), the registrar must

(a) file the agreement or the agreement and a certified copy of each resolution, as the case may be,

(b) issue a certificate of business acquisition showing that, on the effective date (to be put in the certificate) stipulated by the commission under subsection (7), the acquiring credit union will have acquired the assets and assumed the liabilities of the transferring credit union and will carry on the business of both credit unions, and

(c) publish in the Gazette or in any other prescribed manner notice of the business acquisition showing the name and registered office of the acquiring credit union, the name of the transferring credit union and the date of the business acquisition.

  Section 16 (2) (part) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(2) A transferring credit union that intends, or under section 277 (g) of the Financial Institutions Act is ordered, to dispose of all or substantially all of its assets to an acquiring credit union, together with the acquiring credit union, must propose and submit to the Authority an asset transfer agreement that specifies the following:

  Section 16 (2) (b) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

(b) the common bond of membership proposed for the acquiring credit union on and after the disposition becomes effective;

  Section 16 (2) (d) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(d) the fair market value of the equity shares of any class in the transferring credit union, or a method of determining the fair market value of those equity shares of any class, for the purpose of section 24;

  Section 16 (4) (b) (ii) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(ii) to the holders of each class of equity shares other than the membership shares for approval by a separate resolution of the holders of that class, requiring a majority of 2/3 of the votes cast,

  Section 16 (5) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(5) If a transferring credit union to which subsection (4) applies has provided in its rules as set out in section 58 (2) respecting rights or special rights attached to its issued equity shares, then, on a separate resolution required under subsection (4) (b) (ii), each holder of equity shares in the class of equity shares in relation to which the vote is being held has one vote in respect of each equity share of that class of equity shares held by that holder.

  Section 16 (4) (b) sandwich text BEFORE amended by 2019-39-91, effective February 17, 2022 (BC Reg 32/2022).

if it is a credit union that has issued 2 or more classes of equity shares.

  Section 17 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 17 (1) (a) BEFORE amended by 2021-2-134,Sch 1 and 2021-2-139, effective August 1, 2021 (BC Reg 208/2021).

(a) an administrator of a credit union that is subject to the supervision of the Authority has been appointed under section 277 (e) of the Financial Institutions Act, and

  Section 17 (1) (b) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(b) the Authority, under section 277 (g) of the Financial Institutions Act, orders the credit union (the "transferring credit union") to dispose of all of its assets, or part of its assets that constitutes substantially all of its assets, to another credit union ("the acquiring credit union"),

  Section 17 (2) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(2) For the purposes of a disposition of all or part of a credit union's assets and liabilities ordered by the Authority under section 277 (g) of the Financial Institutions Act, the approval of the credit union's members and auxiliary members to the disposition is not required, despite anything in the credit union's constitution and rules.

  Section 20 (5) BEFORE amended by 2011-29-33, effective November 1, 2012 (BC Reg 208/2012).

(5)  If an amalgamating credit union to which subsection (4) applies has provided in its rules as set out in section 58 (2) respecting rights or special rights attached to its issued equity shares, then, on a separate resolution required under subsection (4) (b) (ii), each holder of equity shares has one vote in respect of each share held by that holder.

  Section 20 (7) (a) BEFORE amended by 2011-29-34, effective November 1, 2012 (BC Reg 208/2012).

(a) register the agreement or the agreement and a certified copy of each resolution, as the case may be,

  Section 20 (7) (c) BEFORE amended by 2011-29-35, effective November 1, 2012 (BC Reg 208/2012).

(c) publish in the Gazette a notice of the amalgamation showing the names of the amalgamating credit unions, the name of the amalgamated credit union, the address of its registered office and the date of the amalgamation.

  Section 20 (2) (part), (3) and (4) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) Amalgamating credit unions, including any ordered under section 277 (g) of the Financial Institutions Act to amalgamate, together must propose and submit to the commission an amalgamation agreement that

(3) On receiving a proposed amalgamation agreement submitted to the commission, including one where one or more of the amalgamating credit unions is acting under section 21 through an administrator,

(a) the commission may consent to the proposed amalgamation agreement, or

(b) if the commission considers that the proposed amalgamation agreement is contrary to the interests of one or more of the amalgamating credit unions or its or their members, the commission may refuse to consent to it.

(4) If the commission consents under subsection (3) to a proposed amalgamation agreement under which any of the proposed amalgamating credit unions is one that is not acting under section 21 through an administrator, then this subsection applies to that amalgamating credit union, and it must

  Section 20 (2) (part) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(2) Amalgamating credit unions, including any ordered under section 277 (g) of the Financial Institutions Act to amalgamate, together must propose and submit to the Authority an amalgamation agreement that

  Section 20 (2) (a) (vii) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

(vii) the common bond of membership of the proposed amalgamated credit union,

  Section 20 (2) (a) (iv) BEFORE amended by 2019-39-86, effective February 17, 2022 (BC Reg 32/2022).

(iv) the names and addresses of the individuals proposed as the directors and senior officers of the proposed amalgamated credit union,

  Section 20 (2) (a) (ix) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(ix) the fair market value of the equity shares of any class, or a method of determining the fair market value of the equity shares of any class, for the purpose of section 24, and

  Section 20 (4) (b) (ii) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(ii) to the holders of each class of equity shares other than the membership shares for approval by a separate resolution of the holders of that class, requiring a majority of 2/3 of the votes cast,

  Section 20 (5) BEFORE amended by 2019-39-90, effective February 17, 2022 (BC Reg 32/2022).

(5) If an amalgamating credit union to which subsection (4) applies has provided in its rules as set out in section 58 (2) respecting rights or special rights attached to its issued equity shares, then, on a separate resolution required under subsection (4) (b) (ii), each holder of equity shares in the class of equity shares in relation to which the vote is being held has one vote in respect of each equity share of that class of equity shares held by that holder.

  Section 20 (4) (b) sandwich text BEFORE amended by 2019-39-91, effective February 17, 2022 (BC Reg 32/2022).

if it is a credit union that has issued 2 or more classes of equity shares.

  Section 21 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 21 (1) (a) BEFORE amended by 2021-2-134,Sch 1 and 2021-2-139, effective August 1, 2021 (BC Reg 208/2021).

(a) an administrator of a credit union that is subject to the supervision of the Authority has been appointed under section 277 (e) of the Financial Institutions Act, and

  Section 21 (1) (b) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(b) the Authority, under section 277 (g) of the Financial Institutions Act, orders the credit union (the "credit union ordered to amalgamate") to amalgamate with one or more other credit unions,

  Section 21 (2) BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

(2) For the purposes of an amalgamation ordered by the Authority under section 277 (g) of the Financial Institutions Act, the approval of the members or auxiliary members of the credit union ordered to amalgamate to the amalgamation is not required, despite anything in the constitution and rules of the credit union ordered to amalgamate.

  Section 22 (a) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(a) may carry on business under the business authorization issued with respect to one of the amalgamating credit unions, as the commission may direct, until the amalgamated credit union has been granted a new business authorization under section 61 of the Financial Institutions Act, and

  Section 24 (1.1) was added by 2019-39-94, effective January 27, 2020 (BC Reg 7/2020).

  Part 2, Division 3, heading and sections 25 to 39 BEFORE repealed by 2011-29-36, effective November 1, 2012 (BC Reg 208/2012).

Division 3 — Winding up

  Section 25 (2) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(2)  The superintendent is party to any proceedings in which an application is made to the Supreme Court under section 271 of the Company Act as it applies for the purposes of this Act.

  Part 2.1, Division 1, sections 25.1 to 26.3 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 25.2 (4) BEFORE amended by 2023-10-135, effective March 30, 2023 (Royal Assent).

(4) If a credit union is wound up in accordance with a special resolution passed within 5 weeks after the making of the affidavit, but the credit union's debts are not paid or provided for in full within the period stated in the affidavit, it is presumed, until the contrary is shown, that the person swearing the affidavit did not have reasonable grounds for his or her opinion.

  Section 25.3 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 25.3 BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

  Section 26.2 (1) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 26.2 (2) BEFORE amended by 2019-14-29,Sch 2 and 2019-14-30,Sch 3, effective November 1, 2019 (BC Reg 197/2019).

(2) On receiving notice under subsection (1), the commission must appoint one or more liquidators, who may be the commission's own employee or employees, for the purpose of winding up the affairs and distributing the assets of the credit union.

  Section 26.2 BEFORE amended by 2021-2-134,Sch 1 and 2021-2-140, effective August 1, 2021 (BC Reg 208/2021).

  Section 26.3 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 26.3 BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

  Part 2.1, division 2, sections 27.1 to 28.1 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 27.1 (1) (e) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(e) the commission, or

  Section 27.1 (4) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(4) The commission is party to any proceedings in which an application is made to the Supreme Court under this section.

  Section 27.1 (1) (e) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(e) the Authority, or

  Section 27.1 (4) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(4) The Authority is party to any proceedings in which an application is made to the Supreme Court under this section.

  Part 2.1, Division 3, sections 28.2 to 29.1 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Part 2.1, Division 3 heading BEFORE re-enacted by 2019-14-33, effective November 1, 2019 (BC Reg 197/2019).

Division 3 — Winding Up by Commission

  Section 28.2 BEFORE amended by 2019-14-29,Sch 2 and 2019-14-30,Sch 3, effective November 1, 2019 (BC Reg 197/2019).

  Section 28.2 (part) BEFORE amended by 2021-2-138 and 2021-2-141, effective August 1, 2021 (BC Reg 208/2021).

  Section 28.3 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 28.3 BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

  Section 29.1 (1) to (3) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(1) If the commission believes on reasonable grounds that it is contrary to the public interest that a credit union that has not been issued a business authorization continue in business, the commission may order that the credit union be wound up.

(2) Without limiting subsection (1), if a credit union

(a) has fewer than 25 members,

(b) has contravened section 13,

(c) has not applied for a business authorization within one year or the further period ordered by the commission under section 61 (2) of the Financial Institutions Act after the date of its incorporation, or

(d) is refused a business authorization,

the commission may order that the credit union be wound up.

(3) If the commission makes an order under this section, the references in sections 27.2, 27.3, 28.1, 31.1 (2), 31.3 (1) (b) and (3), 32.3 (1), 33.2 (3), 34.2 and 38.1 (3) to the Supreme Court or a court order must be read for the purposes of the winding up ordered by the commission as references to the commission or to an order of the commission.

  Section 29.1 (2) (c) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(c) has not applied for a business authorization within one year or the further period ordered by the Authority under section 61 (2) of the Financial Institutions Act after the date of its incorporation, or

  Part 2.1, Division 4, sections 29.2 to 30.3 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 29.3 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 29.3 BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

  Section 30.1 (a) BEFORE amended by 2019-39-95, effective February 17, 2022 (BC Reg 32/2022).

(a) on application by a member, an auxiliary member or director of the credit union, order a general meeting, class meeting or meeting of the creditors of the credit union to be held and conducted in the manner the court considers appropriate,

  Part 2.1, Division 5, sections 31.1 to 34.2 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 31.3 (1) (part) and (2) BEFORE amended by 2023-10-136, effective March 30, 2023 (Royal Assent).

(1) A liquidator must, within 10 days after his or her appointment as liquidator, file with the registrar

(2) A liquidator must, within 7 days after changing his or her address, file with the registrar notice of the new address.

  Section 32.1 (1) (a) BEFORE amended by 2021-14-28(a), effective May 20, 2021 (Royal Assent).

(a) mail to every person who appears to the liquidator to be a creditor of the credit union a notice that a meeting of the creditors of the credit union will be held on a date, being not less than 21 days and not more than 28 days after the appointment, at an hour and at a place in British Columbia specified in the notice, and

  Section 32.1 (1.1) was added by 2021-14-28(b), effective May 20, 2021 (Royal Assent).

  Section 32.1 (1) (part) BEFORE amended by 2023-10-136, effective March 30, 2023 (Royal Assent).

(1) A liquidator must, within 14 days after his or her appointment as liquidator,

  Section 32.3 (1) (f) BEFORE amended by 2023-10-137, effective March 30, 2023 (Royal Assent).

(f) describe himself or herself as the liquidator of the credit union.

  Section 33.1 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 33.1 BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

  Section 33.3 (2) and (3) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) If, in the opinion of the commission,

(a) a voluntary winding up of a credit union, or

(b) a winding up of a credit union ordered under section 277 (g) of the Financial Institutions Act

is being carried on in an unsafe or unauthorized manner or is being unduly delayed, the commission, by notice addressed to the liquidator, may remove the liquidator from office.

(3) If a vacancy occurs by death, resignation or otherwise in the office of liquidator in

(a) a voluntary winding up of a credit union, or

(b) a winding up of a credit union ordered under section 277 (g) of the Financial Institutions Act,

the commission must appoint a liquidator to fill the vacancy.

  Section 33.3 BEFORE amended by 2021-2-138, effective August 1, 2021 (BC Reg 208/2021).

  Part 2.1, Division 6, sections 34.3 to 36.3 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 35 BEFORE amended by 2003-9-15, effective March 31, 2003 (BC Reg 149/2003).

  Part 2.1, Division 6, sections 37.1 to 39.3 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 37.1 (2) BEFORE amended by 2021-14-29(a), effective May 20, 2021 (Royal Assent).

(2) The final general meeting referred to in subsection (1) must be called by publishing notice of the meeting in the Gazette not less than 14 days before the meeting, specifying the date, time, place and object of the meeting, and no other notice is necessary.

  Section 37.1 (2.1) was added by 2021-14-29(b), effective May 20, 2021 (Royal Assent).

  Section 38 (1), (2) and (3) BEFORE amended by 2004-48-7, effective December 31, 2004 (BC Reg 597/2004).

(1)  If the minister believes on reasonable grounds that it is contrary to the public interest that a credit union that has not been issued a business authorization continue in business, the minister may order that the credit union be wound up.

(2)  Without limiting subsection (1), if a credit union

(a) has fewer than 25 members,

(b) has contravened section 13,

(c) has not applied for a business authorization within one year or the further period ordered by the commission under section 61 (2) of the Financial Institutions Act after the date of its incorporation, or

(d) is refused a business authorization,

the minister may order that the credit union be wound up.

(3)  If the minister makes an order under this section, the references in sections 273, 274, 275 (2) (b), 278 (b), 279 (1) (a), 283 (1) (b) and (3), 286 (1), 288 (3) and 293 (3) of the Company Act as those sections apply for the purposes of this Act to the court or a court order must be read for the purposes of the winding up ordered by the minister as references to the minister or to a minister's order.

  Section 39 BEFORE amended by 2004-48-8, effective December 31, 2004 (BC Reg 597/2004).

  Section 39.1 (b) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(b) must file with the commission a copy of the account showing how the winding up has been conducted and how the property of the credit union has been disposed of, together with a copy of the newspaper notice.

  Section 39.1 (b) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(b) must file with the Authority a copy of the account showing how the winding up has been conducted and how the property of the credit union has been disposed of, together with a copy of the newspaper notice.

  Part 2.2, Division 1, sections 39.4 to 39.41 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Part 2.2, Division 2, sections 39.42 to 39.46 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.42 (i) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(i) a copy of every order of the superintendent or the commission relating to the credit union unless the superintendent or the commission, in that order or in another order, orders that that order need not be kept at the records office;

  Section 39.42 (e) BEFORE amended by 2019-39-96, effective February 17, 2022 (BC Reg 32/2022).

(e) the minutes of every general meeting and class meeting of the credit union;

  Section 39.43 (1) BEFORE amended by 2023-10-138, effective March 30, 2023 (Royal Assent).

(1) A director of a credit union may examine and take extracts, without charge, from the credit union's records, documents and instruments referred to in section 39.42, and a former director may examine and take extracts, without charge, from the credit union's records, documents and instruments referred to in section 39.42 that relate to the time when he or she was a director.

  Section 39.46 (2) BEFORE amended by 2019-39-97, effective January 27, 2020 (BC Reg 7/2020).

(2) Minutes that are required by this Act or the Financial Institutions Act to be kept by a credit union must be kept in a bound or looseleaf book.

  Part 2.2, Division 3, section 39.47 was enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Part 2.2, Division 4, sections 39.48 to 39.49 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.48 (1) (b) BEFORE amended by 2019-39-98, effective January 27, 2020 (BC Reg 7/2020).

(b) if the intended recipient has provided an email address for the purposes of receiving such records, by email to that address.

  Part 2.3, Division 1, sections 39.5 to 39.55 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.51 (a) BEFORE amended by 2015-1-90, effective June 24, 2015 (BC Reg 114/2015).

(a) a person who is a member, or a partnership whose partners are members, in good standing of the Canadian Institute of Chartered Accountants, or the Certified General Accountants Association of British Columbia, or

  Section 39.51 BEFORE re-enacted by 2018-23-16, effective May 31, 2018 (Royal Assent).

  Section 39.51 BEFORE re-enacted by 2018-36-21, effective October 31, 2018 (Royal Assent).

  Section 39.52 (3) (a) BEFORE amended by 2023-10-139, effective March 30, 2023 (Royal Assent).

(a) the immediate family of the person referred to includes

(i) his or her spouse, parent and child, and

(ii) any relative of the person, or his or her spouse, who resides with the person, and

  Section 39.54 (2) and (3) BEFORE amended by 2019-39-99, effective January 27, 2020 (BC Reg 7/2020).

(2) A credit union, before calling a general meeting for the purpose specified in subsection (1), but not less than 14 days before the mailing of the notice of the meeting, must give to the auditor

(a) written notice of the intention to call the meeting, specifying the date on which the notice of the meeting is proposed to be mailed, and

(b) a copy of all material proposed to be sent to members in connection with the meeting.

(3) An auditor has the right to make to the credit union, not less than 3 days before the mailing of the notice of the meeting, representations in writing respecting the auditor's proposed removal as auditor, and the credit union, at the credit union's expense, must forward with the notice of the meeting a copy of those representations to each member.

  Section 39.55 (2) (a) and (b) BEFORE amended by 2019-39-100, effective January 27, 2020 (BC Reg 7/2020).

(a) the credit union must, not less than 14 days before the mailing of the notice of the meeting, give to the incumbent auditor written notice of the intention of the directors not to recommend the auditor's reappointment at the annual general meeting, specifying in the written notice the date on which the notice of the meeting is proposed to be mailed, and

(b) the incumbent auditor has the right to make to the credit union, not less than 3 days before the mailing of the notice of the meeting, representations in writing respecting the proposal not to reappoint the incumbent as auditor, and the credit union, at the credit union's expense, must forward with the notice of the meeting a copy of those representations to each member.

  Part 2.3, Division 2, section 39.56 was enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.56 (6) BEFORE amended by 2021-14-30, effective May 20, 2021 (Royal Assent).

(6) The auditor must be given notice of, and has the right to appear before and to be heard at, every meeting of the audit committee, and must appear before the audit committee when requested to do so by the committee.

  Part 2.3, Division 3, sections 39.57 to 39.66 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.61 (1) BEFORE amended by 2021-14-31, effective May 20, 2021 (Royal Assent).

(1) At any general meeting, the auditor, if present, must answer inquiries directed to the auditor concerning the financial statements of the credit union and the opinion on the financial statements stated in the auditor's report.

  Section 39.62 (3) (b) BEFORE amended by 2019-39-101, effective January 27, 2020 (BC Reg 7/2020).

(b) if the intended recipient has provided an email address for the purposes of receiving such records, by email to that address.

  Part 2.4, sections 39.7 to 39.77 were enacted by 2011-29-37, effective November 1, 2012 (BC Reg 208/2012).

  Section 39.71 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 39.71 BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

  Section 39.72 BEFORE amended by 2019-39-102, effective February 17, 2022 (BC Reg 32/2022).

  Section 39.76 BEFORE repealed by 2019-39-103, effective February 17, 2022 (BC Reg 32/2022).

  Section 39.77 BEFORE amended by 2019-39-88, effective February 17, 2022 (BC Reg 32/2022).

  Section 40 (2) and (3) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(2)  Subject to first receiving written approval of the superintendent and subject also to continued compliance with subsection (1), a credit union may amend its common bond of membership by special resolution.

(3)  For the purpose of accommodating an amalgamation under section 20 or 21, or a sale and purchase of assets under section 16 or 17, despite subsection (1) but subject to first receiving the written approval of the superintendent, a credit union may

(a) have for its common bond of membership more than one basis set out in subsection (1), and

(b) by special resolution amend its common bond of membership for that purpose.

  Section 40 (2) and (3) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) Subject to first receiving written approval of the commission and subject also to continued compliance with subsection (1), a credit union may amend its common bond of membership by special resolution.

(3) For the purpose of accommodating an amalgamation under section 20 or 21, or a sale and purchase of assets under section 16 or 17, despite subsection (1) but subject to first receiving the written approval of the commission, a credit union may

  Section 40 (2) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) Subject to first receiving written approval of the Authority and subject also to continued compliance with subsection (1), a credit union may amend its common bond of membership by special resolution.

  Section 40 (1) BEFORE amended by 2019-39-104, effective February 17, 2022 (BC Reg 32/2022).

(1) A credit union must have a common bond of membership based on only one of the following: religious interest; ethnic interest; social interest; occupation; employment; community; geographic area.

  Section 41 (1) BEFORE amended by 2019-39-105(a), effective June 22, 2020 (BC Reg 141/2020).

(1) A credit union may admit as a member only those persons who are eligible under subsection (2), (3), (4), (5) or (6).

  Section 41 (7) was added by 2019-39-105(b), effective June 22, 2020 (BC Reg 141/2020).

  Section 41 (2) (a) BEFORE amended by 2019-39-85, effective February 17, 2022 (BC Reg 32/2022).

(a) the person is one of a group that the credit union under its common bond of membership is intended to serve;

  Section 44 (8) (b) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(b) have first received the consent of the superintendent.

  Section 44 (8) (b) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(b) have first received the consent of the commission.

  Section 44 (8) (b) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(b) have first received the consent of the Authority.

  Section 48 (4) BEFORE amended by 2021-14-32, effective May 20, 2021 (Royal Assent).

(4) A person whose membership is proposed to be terminated by a resolution of the directors is entitled to at least 7 days' notice of the meeting at which the resolution is to be considered, together with a statement of the grounds for termination, and the person may appear, either personally or by or with an agent or counsel, to make submissions at the meeting.

  Section 54 (1) (d) BEFORE amended by 2019-39-106, effective February 17, 2022 (BC Reg 32/2022).

(d) the kind and class of shares held by each member or auxiliary member, the par value, if any, of the shares and, in the case of partly paid shares, the amount paid or agreed to be considered as paid on each share;

  Section 54.1 was enacted by 2019-39-107, effective February 17, 2022 (BC Reg 32/2022).

  Section 55 (2) BEFORE amended by 2019-39-108, effective February 17, 2022 (BC Reg 32/2022).

(2) In its constitution or rules, a credit union may provide for one or more classes of shares, with or without par value, with differing rights and restrictions among classes.

  Sections 55.1 to 55.5 were enacted by 2011-29-38, effective November 1, 2012 (BC Reg 208/2012).

  Section 55.11 was enacted by 2019-39-109, effective February 17, 2022 (BC Reg 32/2022).

  Section 56 BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

  Section 57 BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

  Section 58 (2) BEFORE amended by 2011-29-39, effective November 1, 2012 (BC Reg 208/2012).

(2)  A credit union may provide in its rules that, for the purpose of a separate resolution under subsection (1) of the holders of a class of equity shares, each holder has one vote in respect of each share held by that holder.

  Section 58 BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

  Section 59 (1) (b) and (c) and (4) (c) BEFORE amended by 2011-29-40, effective November 1, 2012 (BC Reg 208/2012).

(b) if the credit union's rules do not provide as set out in section 58 (2), being not fewer than 10% of the members and auxiliary members holding shares of a class of shares of the credit union whose special rights or restrictions are affected by a special resolution altering or abrogating special rights or restrictions attaching to that class of shares, or

(c) if the credit union's rules do provide as set out in section 58 (2), being the holders of not less than 10% of the shares of a class of shares of the credit union whose special rights or restrictions are affected by a special resolution altering or abrogating special rights or restrictions attaching to that class of shares,

(c) affirm the special resolution and require the credit union, subject to section 64 (8), or any other person to purchase the shares of any member or auxiliary member at a price and on the terms to be determined by the Supreme Court,

  Section 59 (1) (b) and (c) BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

(b) if the credit union's rules do not provide as set out in section 58 (2), being not fewer than 10% of the members and auxiliary members holding equity shares of a class of equity shares of the credit union whose special rights or restrictions are affected by a special resolution altering or abrogating special rights or restrictions attaching to that class of equity shares, or

(c) if the credit union's rules do provide as set out in section 58 (2), being the holders of not less than 10% of the equity shares of a class of equity shares of the credit union whose special rights or restrictions are affected by a special resolution altering or abrogating special rights or restrictions attaching to that class of equity shares,

  Section 61 BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

  Sections 61.1 to 61.7 were enacted by 2011-29-41, effective November 1, 2012 (BC Reg 208/2012).

  Section 62 (1) BEFORE amended by 2004-41-52, effective January 1, 2005 (BC Reg 505/2004).

(1)  Nothing in this section or section 66 limits the application of the Securities Act or Part 2 of the Real Estate Act.

  Section 64 (8) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(8)  Without first receiving the written approval of the superintendent, a credit union must not redeem or purchase or otherwise acquire equity shares issued by the credit union if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Sections 64 (1.1) was added by 2011-29-42(a), effective November 1, 2012 (BC Reg 208/2012).

  Sections 64 (2) and (3) BEFORE amended by 2011-29-42(b) and (c), effective November 1, 2012 (BC Reg 208/2012).

(2)  Subject to section 44 (5) to (7), in respect of a membership share, an equity share in a credit union is transferable in accordance with the rules of the credit union.

(3)  A transfer of equity shares is, effective only on registration of the transfer by the credit union.

  Section 64 (8) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(8) Without first receiving the written approval of the commission, a credit union must not redeem or purchase or otherwise acquire equity shares issued by the credit union if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 64 (8) BEFORE amended by 2019-39-111, effective June 22, 2020 (BC Reg 141/2020).

(8) Without first receiving the written approval of the Authority, a credit union must not redeem or purchase or otherwise acquire equity shares issued by the credit union if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 64 (8) BEFORE amended by 2021-2-142, effective August 1, 2021 (BC Reg 208/2021).

(8) Without first receiving the written approval of the Authority, a credit union must not redeem or purchase or otherwise acquire equity shares issued by the credit union if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount determined in accordance with the regulations under the Financial Institutions Act or the rules made by the Authority under that Act.

  Section 65 (4) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(4)  On application by a credit union made in respect of a proposed declaration and payment of dividends, the superintendent may order that, in respect of the proposed declaration and payment of dividends, the credit union is exempt from compliance with subsection (3) (b).

  Section 65 (4) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(4) On application by a credit union made in respect of a proposed declaration and payment of dividends, the commission may order that, in respect of the proposed declaration and payment of dividends, the credit union is exempt from compliance with subsection (3) (b).

  Section 65 (3) (b) BEFORE amended by 2019-39-111, effective June 22, 2020 (BC Reg 141/2020).

(b) subject to subsection (4), if the payment of the dividend would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 65 (4) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(4) On application by a credit union made in respect of a proposed declaration and payment of dividends, the Authority may order that, in respect of the proposed declaration and payment of dividends, the credit union is exempt from compliance with subsection (3) (b).

  Section 69 (1) BEFORE amended by 2004-48-9, effective December 31, 2004 (BC Reg 597/2004).

(1)  Subject to subsection (2), a credit union may pay an allocation to a person

(a) in respect of the person's borrowing from the credit union in the year, on the terms that the person is entitled to or will receive payment of the allocation, computed at a rate or rates in relation to

(i)  the amount of interest payable by the person on the money borrowed, or

(ii)  the amount of money borrowed by the person,

and the rate or rates must be the same as the rate or rates at which amounts were similarly credited in the year to other persons who paid interest to or borrowed money from the credit union, with appropriate differences for different types or purposes of borrowings, security and rates of interest payable on them in the year,

(b) in respect of the person's money on deposit with the credit union in the year, on the terms that the person is entitled to or will receive payment of the allocation, computed at a rate or rates in relation to

(i)  the amount of interest payable by the credit union to the person on the money on deposit, or

(ii)  the amount of money on deposit to the credit of the person,

and the rate or rates must be the same as the rate or rates at which amounts were similarly credited in the year to other persons to whom interest was payable by the credit union or with money on deposit with the credit union, with appropriate differences for different types or terms of deposits and rates of interest payable on them in the year, and

(c) in respect of goods or services provided to the person in the year computed at a rate or rates in relation to

(i)  the quantity, quality or value of the goods or services provided by or to the person, or

(ii)  the fees paid by the person for goods or services,

and the rate or rates must be the same as the rate or rates at which amounts were similarly credited in the year to other persons who obtained goods or services, with appropriate differences for different classes, grades or qualities of goods or services.

  Section 69 (2) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(2)  Unless it first receives the approval of the superintendent, a credit union must not pay allocations under subsection (1) that would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 69 (2) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) Unless it first receives the approval of the commission, a credit union must not pay allocations under subsection (1) that would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 69 (2) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) Unless it first receives the approval of the Authority, a credit union must not pay allocations under subsection (1) that would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 70 (1) (b.1) was added by 2005-35-6, effective November 24, 2005 (Royal Assent).

  Section 70 (1) (a.2) was added by 2019-39-112(a)(part), effective June 22, 2020 (BC Reg 141/2020).

  Section 70 (3) BEFORE amended by 2019-39-112(b), effective June 22, 2020 (BC Reg 141/2020).

(3) A member of a credit union who is not an individual may be represented and vote at meetings by an individual who

(a) is not a member, and

(b) by written authorization deposited with the credit union, is authorized to vote at the meetings on behalf of the member.

  Section 70 (4) was added by 2019-39-112(c), effective June 22, 2020 (BC Reg 141/2020).

  Section 70 (2) BEFORE amended by 2019-39-110, effective February 17, 2022 (BC Reg 32/2022).

(2) A member may vote by proxy only if

(a) the member is voting as a holder of shares in a class of equity shares that are not membership shares,

(b) the rules of the credit union allow auxiliary members to vote by proxy as holders of shares in the class referred to in paragraph (a), and

(c) the vote is on a matter on which, under the rules referred to in paragraph (b), members holding shares in the class referred to in paragraph (a) are permitted to vote by proxy.

  Section 70 (1) (a.1) was added by 2019-39-112(a)(rem), effective February 17, 2022 (BC Reg 32/2022).

  Section 71 BEFORE amended by 2021-14-33, effective May 20, 2021 (Royal Assent).

  Section 72 BEFORE re-enacted by 2004-48-10, effective December 31, 2004 (BC Reg 597/2004).

  Section 73 (2) was added by 2004-48-11, effective December 31, 2004 (BC Reg 597/2004).

  Section 73 (1) (a) to (c) BEFORE amended by 2021-14-65,Sch, effective May 20, 2021 (Royal Assent).

(a) by voting in person at a general meeting or voting by mail ballot, whichever method the member chooses,

(b) by voting in person at a general meeting or voting by ballot at a branch office, whichever method the member chooses,

(c) by voting in person at a general meeting, voting by mail ballot or voting by ballot at a branch office, whichever method the member chooses,

  Section 74 (2) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(2)  Despite subsection (1), the superintendent by order applicable to one or more credit unions may extend by not more than 6 months the time within which it or they must hold an annual general meeting.

  Section 74 (2) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) Despite subsection (1), the commission by order applicable to one or more credit unions may extend by not more than 6 months the time within which it or they must hold an annual general meeting.

  Section 74 (2) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) Despite subsection (1), the Authority by order applicable to one or more credit unions may extend by not more than 6 months the time within which it or they must hold an annual general meeting.

  Section 74.1 was enacted by 2011-29-43, effective November 1, 2012 (BC Reg 208/2012).

  Section 75 (1) (part) BEFORE amended by 2021-14-34, effective May 20, 2021 (Royal Assent).

(1) The rules of a credit union may provide for the holding of general or special meetings of members by holding 2 or more meetings of members at different times and places, which meetings together are to constitute a single meeting, and, in that case,

  Section 75.1 was enacted by 2011-29-43, effective November 1, 2012 (BC Reg 208/2012).

  Section 76 (4) (a) and (d) BEFORE amended by 2004-48-12, effective December 31, 2004 (BC Reg 597/2004).

(a) be signed by not less than 5% in number of the members or 300 members, whichever is the lesser,

(d) be deposited at the registered office of the credit union.

  Section 76 (9), (10) and (11) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(9)  Within 14 days after the representative of the requisitioning members receives the notice referred to in subsection (6) of the directors' decision under subsection (5) (b), any member of the credit union may appeal to the superintendent the directors' decision to refuse to call a requisitioned special general meeting and, on receiving notice of the appeal, the superintendent may

(a) make an order confirming the directors' decision to refuse to call the requisitioned special general meeting, or

(b) order the directors to call the requisitioned special general meeting.

(10)  Without limiting the powers given under subsection (9), the superintendent, in an order under that subsection, may

(a) appoint a time and place for the requisitioned special general meeting ordered under subsection (9) (b),

(b) require amendments the superintendent considers necessary or advisable to the proposal, supporting statement or notice of meeting, and

(c) establish procedures for the conduct of the requisitioned special general meeting referred to in subsection (9) (b).

(11)  On receiving notice of an order made by the superintendent under subsection (9) (b), the directors must call the requisitioned special general meeting in accordance with the order.

  Section 76 (9), (10) and (11) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(9) Within 14 days after the representative of the requisitioning members receives the notice referred to in subsection (6) of the directors' decision under subsection (5) (b), any member of the credit union may appeal to the commission the directors' decision to refuse to call a requisitioned special general meeting and, on receiving notice of the appeal, the commission may

(a) make an order confirming the directors' decision to refuse to call the requisitioned special general meeting, or

(b) order the directors to call the requisitioned special general meeting.

(10) Without limiting the powers given under subsection (9), the commission, in an order under that subsection, may

(a) appoint a time and place for the requisitioned special general meeting ordered under subsection (9) (b),

(b) require amendments the commission considers necessary or advisable to the proposal, supporting statement or notice of meeting, and

(c) establish procedures for the conduct of the requisitioned special general meeting referred to in subsection (9) (b).

(11) On receiving notice of an order made by the commission under subsection (9) (b), the directors must call the requisitioned special general meeting in accordance with the order.

  Section 76 (10) (a) BEFORE amended by 2021-14-35, effective May 20, 2021 (Royal Assent).

(a) appoint a time and place for the requisitioned special general meeting ordered under subsection (9) (b),

  Section 76 (9) to (11) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(9) Within 14 days after the representative of the requisitioning members receives the notice referred to in subsection (6) of the directors' decision under subsection (5) (b), any member of the credit union may appeal to the Authority the directors' decision to refuse to call a requisitioned special general meeting and, on receiving notice of the appeal, the Authority may

(a) make an order confirming the directors' decision to refuse to call the requisitioned special general meeting, or

(b) order the directors to call the requisitioned special general meeting.

(10) Without limiting the powers given under subsection (9), the Authority, in an order under that subsection, may

(a) appoint a time and, if applicable, a place for the requisitioned special general meeting ordered under subsection (9) (b),

(b) require amendments the Authority considers necessary or advisable to the proposal, supporting statement or notice of meeting, and

(c) establish procedures for the conduct of the requisitioned special general meeting referred to in subsection (9) (b).

(11) On receiving notice of an order made by the Authority under subsection (9) (b), the directors must call the requisitioned special general meeting in accordance with the order.

  Section 76 (3) BEFORE amended by 2019-39-113(a), effective February 17, 2022 (BC Reg 32/2022).

(3) By a requisition that may be signed in several counterparts, each bearing the signature of one or more members of the credit union, the members may requisition that the directors call a special general meeting for the purpose of considering a proposal.

  Section 76 (4) (a) BEFORE amended by 2019-39-113(b), effective February 17, 2022 (BC Reg 32/2022).

(a) be signed and dated by not less than 5% in number of the members or 300 members, whichever is the lesser,

  Section 76 (4) (d) BEFORE amended by 2019-39-113(c), effective February 17, 2022 (BC Reg 32/2022).

(d) be deposited at the registered office of the credit union within 60 days of the first signing of the requisition by a requisitioning member.

  Section 76 (4.1) and (4.2) were added by 2019-39-113(d), effective February 17, 2022 (BC Reg 32/2022).

  Section 76 (5) (b) (i) BEFORE amended by 2019-39-113(e), effective February 17, 2022 (BC Reg 32/2022).

(i) the requisition was not deposited at the registered office of the credit union at least 90 days before the anniversary date of the last annual general meeting, or at least 90 days before the date on which it is proposed that the meeting be held;

  Section 76 (5) (b) (iii) BEFORE amended by 2019-39-113(f), effective February 17, 2022 (BC Reg 32/2022).

(iii) substantially the same proposal was considered and defeated by the membership within the 2 years immediately before the date of deposit at the registered office of the credit union of the requisition containing the current proposal.

  Section 76 (7) BEFORE amended by 2019-39-113(g), effective February 17, 2022 (BC Reg 32/2022).

(7) If the directors call the requisitioned special general meeting under this section, then, at the request of the representative of the requisitioning members, the directors must attach to the proposal for circulation a statement, supplied by the requisitioning members, of not more than 400 words in support of the proposal, and the name and address of the representative of the requisitioning members.

  Section 77 BEFORE re-enacted by 2019-39-114, effective February 17, 2022 (BC Reg 32/2022).

  Section 77.1 was enacted by 2019-39-114, effective February 17, 2022 (BC Reg 32/2022).

  Sections 78 (5) BEFORE amended by 2011-29-44, effective November 1, 2012 (BC Reg 208/2012).

(5)  If a notice of a general meeting or special resolution given under subsection (1) is sent by post, service or delivery, it is deemed to be effected by properly addressing, prepaying and mailing the notice, and, unless the rules of the credit union provide for a longer period of time, the service or delivery is deemed to have been effected 5 days, Saturdays and holidays excepted, following the date of mailing.

  Section 78 (4.1), (5.1), (7) and (8) were added by 2019-39-115(a) and (b), effective January 27, 2020 (BC Reg 7/2020).

  Section 78 (6) BEFORE amended by 2019-39-115(b), effective January 27, 2020 (BC Reg 7/2020).

(6) Where mail service is not available, a notice required under subsection (1)

(a) may be given by advertising on 2 separate occasions not less than 5 days apart, inclusive of the day of publication, in a newspaper circulating in the area in which the credit union carries on its operations, and

(b) is deemed to have been received by the member on the day of the last publication.

  Section 78 (2) (a) BEFORE amended by 2021-14-36(a), effective May 20, 2021 (Royal Assent).

(a) the place, the day and the hour of the meeting, and

  Section 78 (2.1) was added by 2021-14-36(b), effective May 20, 2021 (Royal Assent).

  Section 78.1 was enacted by 2019-39-116, effective February 17, 2022 (BC Reg 32/2022).

  Section 79 BEFORE amended by 2008-39-45, effective December 9, 2008 (BC Reg 403/2008).

  Section 79 BEFORE renumbered as section 79 (1) and BEFORE amended by 2021-14-37(a) and (b), effective May 20, 2021 (Royal Assent).

  Section 79 (2) and (3) were added by 2021-14-37(c), effective May 20, 2021 (Royal Assent).

  Section 79.1 was enacted by 2021-14-38, effective May 20, 2021 (Royal Assent).

  Section 80 BEFORE renumbered and (2) was added by 2011-29-45, effective November 1, 2012 (BC Reg 208/2012).

  Section 81 (1) BEFORE amended by 2004-48-13, effective December 31, 2004 (BC Reg 597/2004).

(1)  A credit union, other than a central credit union, and a subsidiary of a credit union, other than a central credit union, must not carry on business outside British Columbia.

  Section 81 (1.1) was added by 2004-48-13, effective December 31, 2004 (BC Reg 597/2004).

  Section 81 (1.1) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(1.1) With the consent of the commission and the deposit insurance corporation, a credit union or a subsidiary of a credit union may carry on business outside of British Columbia to the extent permitted under the laws of another jurisdiction.

  Section 81 (1.1) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(1.1) With the consent of the Authority and the deposit insurance corporation, a credit union or a subsidiary of a credit union may carry on business outside of British Columbia to the extent permitted under the laws of another jurisdiction.

  Sections 82.1 to 82.3 were enacted by 2011-29-46, effective November 1, 2012 (BC Reg 208/2012).

  Section 82.3 (1) definitions of "associate" and "insider of a credit union" BEFORE amended by 2023-10-140, effective March 30, 2023 (Royal Assent).

"associate", if used to indicate a relationship with a person, means

(a) a corporation of which that person beneficially owns, directly or indirectly, shares carrying more than 10% of the voting rights attached to all shares of the corporation for the time being outstanding carrying voting rights that are at that time capable of being exercised,

(b) a partner of that person,

(c) a trust or estate in which that person has a substantial beneficial interest or for which that person serves as trustee or in a similar capacity,

(d) a spouse, son or daughter of that person, or

(e) a relative of that person or of that person's spouse, other than a relative referred to in paragraph (d), who has the same home as that person;

"insider of a credit union" means

(a) any director or senior officer of the credit union or his or her associate, or

(b) the credit union itself,

and every director or senior officer of a credit union that is itself an insider of a credit union is an insider of the credit union.

  Part 4.1, sections 82.4 to 82.7 were enacted by 2011-29-47, effective November 1, 2012 (BC Reg 208/2012).

  Part 5, Division 1, heading was enacted by 2011-29-48, effective November 1, 2012 (BC Reg 208/2012).

  Section 83 (5) BEFORE amended by 2008-39-46, effective December 9, 2008 (BC Reg 403/2008).

(5)  Every meeting of directors must be held in British Columbia.

  Section 83 (3) [a second subsection (3): referred for correction] was added by 2008-39-46, effective December 9, 2008 (BC Reg 403/2008).

  Section 83 (3) was renumbered to (5) by 2009-15-8, effective October 29, 2009 (Royal Assent).

  Section 83 (1) BEFORE amended by 2011-29-49(a), effective November 1, 2012 (BC Reg 208/2012).

(1)  The persons who are the proposed first directors of a credit union immediately before registration of its constitution and rules under section 8 are the first directors of the credit union.

  Section 83 (6) BEFORE amended by 2011-29-49(b), effective November 1, 2012 (BC Reg 208/2012).

(6)  A meeting of directors of a credit union by the means described in section 125 (2) of the Company Act complies with subsection (5) of this section if a majority of the directors participating in the meeting are in British Columbia at the time of the meeting.

  Section 83 (5) (part) BEFORE amended by 2021-14-39(a), effective May 20, 2021 (Royal Assent).

(5) A meeting of directors may be held in

  Section 83 (5.1) and (5.2) were added by 2021-14-39(b), effective May 20, 2021 (Royal Assent).

  Sections 84.1 to 84.26 were enacted by 2011-29-50, effective November 1, 2012 (BC Reg 208/2012).

  Section 84.12 (1) (e) BEF0RE amended by 2015-18-300, effective May 14, 2015 (Royal Assent).

(e) unless the Supreme Court orders otherwise, convicted in or out of British Columbia of an offence

(i) in connection with the promotion, formation or management of a corporation, or

(ii) involving fraud

unless 5 years have elapsed since the expiration of the period fixed for suspension of the passing of sentence without sentencing or since a fine was imposed, or the term of imprisonment and probation imposed, if any, was concluded, whichever is the latest, but the disability imposed by this paragraph ceases on a pardon being granted under the Criminal Records Act (Canada), or

  Section 84.12 (1) (b) BEFORE amended by 2021-24-99, effective October 28, 2021 (Royal Assent).

(b) found to be incapable of managing the person's own affairs by reason of mental infirmity,

  Section 84.12 (1) (b.1) was added by 2021-24-100, effective May 4, 2023 (BC Reg 114/2023).

  Section 84.14 (a) BEFORE amended by 2019-39-118, effective February 17, 2022 (BC Reg 32/2022).

(a) the full names and resident addresses of the directors,

  Section 84.18 (1) BEFORE amended by 2023-10-141, effective March 30, 2023 (Royal Assent).

(1) A director referred to in section 84.17 (1) must account to the credit union for any profit made as a consequence of the credit union entering into or performing the proposed contract or transaction, unless

(a) he or she discloses his or her interest as required by section 84.17,

(b) after his or her disclosure the proposed contract or transaction is approved by the directors, and

(c) he or she abstains from voting on the approval of the proposed contract or transaction,

or unless

(d) the contract or transaction was reasonable and fair to the credit union at the time it was entered into, and

(e) after full disclosure of the nature and extent of his or her interest, the contract or transaction is approved by special resolution.

  Section 84.2 (2) BEFORE amended by 2023-10-142, effective March 30, 2023 (Royal Assent).

(2) The declaration must be made by a director referred to in subsection (1) at the first meeting of the directors held

(a) after he or she becomes a director, or

(b) if he or she is already a director, after he or she began to hold the office or possess the property.

  Section 84.22 (2) BEFORE amended by 2021-14-40, effective May 20, 2021 (Royal Assent).

(2) If the rules provide for it, a meeting of directors or of a committee of directors may be held by

(a) telephone, or

(b) other communications facilities

that permit all participants in the meeting to hear each other, and a director who participates in the meeting by those means must be counted as present at the meeting.

  Section 84.22 (2.1) was added by 2021-14-40, effective May 20, 2021 (Royal Assent).

  Section 84.23 (5) BEFORE amended by 2023-10-143, effective March 30, 2023 (Royal Assent).

(5) A director who is not present at a meeting of directors, or of a committee of directors, at which a resolution referred to in subsection (1) is passed is deemed to have consented to the resolution, unless within 7 days after becoming aware of the resolution the director mails his or her written dissent by registered mail or delivers the written dissent to the registered office of the credit union.

  Section 84.24 (1) (part) BEFORE amended by 2023-10-144, effective March 30, 2023 (Royal Assent).

(1) A director ceases to hold office when his or her term expires in accordance with the rules or when he or she

  Part 5, division 2, sections 84.3 to 84.33 were enacted by 2011-29-51, effective November 1, 2012 (BC Reg 208/2012).

  Section 84.32 BEFORE amended by 2023-10-145, effective March 30, 2023 (Royal Assent).

  Part 5, sections 84.4 to 84.43 were enacted by 2011-29-52, effective November 1, 2012 (BC Reg 208/2012).

  Section 85 (3) BEFORE amended by 2003-96-11, effective February 5, 2004 (BC Reg 40/2004).

(3)  Sections 44, 45 and 60 (1) and (2) do not apply to a central credit union.

  Section 85 (1) BEFORE amended by 2004-48-14, effective December 31, 2004 (BC Reg 597/2004).

(1)  A central credit union may be incorporated in the same manner as a credit union, with variations the minister may permit having regard to the circumstances, except that the constitution and rules must be subscribed to by representatives of not fewer than 10 credit unions that are not subject to supervision by the commission.

  Section 85 (1) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(1) A central credit union may be incorporated in the same manner as a credit union, with variations the commission may permit having regard to the circumstances, except that the constitution and rules must be subscribed to by representatives of not fewer than 10 credit unions that are not subject to supervision by the commission.

  Section 85 (1) BEFORE amended by 2021-2-143, effective August 1, 2021 (BC Reg 208/2021).

(1) A central credit union may be incorporated in the same manner as a credit union, with variations the Authority may permit having regard to the circumstances, except that the constitution and rules must be subscribed to by representatives of not fewer than 10 credit unions that are not subject to supervision by the Authority.

  Section 86.1 was enacted by 2003-96-12, effective February 5, 2004 (BC Reg 40/2004).

  Section 86.1 (4) (a) BEFORE amended by 2021-14-41, effective May 20, 2021 (Royal Assent).

(a) a majority of not less than 2/3 of the members who, being entitled to do so, vote in person at the meeting or, if permitted by section 70 (3), through a representative who is present in person, and

  Section 90 (2) (part) BEFORE amended by 2004-48-15, effective December 31, 2004 (BC Reg 597/2004).

(2)  If it first obtains the approval of the commission to do so, and while it continues to have that approval, a central credit union may provide insurance or arrange for insurance

  Section 90 (1) BEFORE amended by 2007-14-204,Sch, effective December 1, 2007 (BC Reg 354/2007).

(1)  A central credit union may provide services that are not prohibited by this Act or the regulations to or for its members if, in the opinion of the directors of the central credit union, the services are incidental or conducive to the sound operation of its members or to the attaining of the purposes of its members.

  Section 90 (2) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) If it first obtains the consent of the commission to do so, and while it continues to have that consent, a central credit union may provide insurance or arrange for insurance

  Section 90 (2) (part) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(2) If it first obtains the consent of the Authority to do so, and while it continues to have that consent, a central credit union may provide insurance or arrange for insurance

  Section 92 (1.1) was added by 2005-35-7, effective November 24, 2005 (Royal Assent).

  Section 92 (3) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(3) Unless it first receives the written approval of the commission, a central credit union must not redeem, purchase or otherwise acquire equity shares of its own issue if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 92 (1) (b) BEFORE amended by 2021-14-42, effective May 20, 2021 (Royal Assent).

(b) a system of attendance at meetings and for voting by delegates, including provision for delegate attendance and voting determined on a proportional basis, and

  Section 92 (3) BEFORE amended by 2021-2-134,Sch 1, effective August 1, 2021 (BC Reg 208/2021).

(3) Unless it first receives the written approval of the Authority, a central credit union must not redeem, purchase or otherwise acquire equity shares of its own issue if the redemption, purchase or other acquisition would reduce the credit union's capital base to an amount less than the amount that constitutes an adequate capital base for that credit union in accordance with the regulations under section 289 (3) (f) of the Financial Institutions Act.

  Section 93 (1) and (2) BEFORE amended by 2004-48-16, effective December 31, 2004 (BC Reg 597/2004).

(1)  An order

(a) of the minister under section 38 (1), or

(b) of the superintendent under section 76 (9) (a) or (b)

must be in writing.

(2)  A consent or refusal of a consent

(a) of the minister under section 11,

(b) of the commission under section 11, 16 (3) or 20 (3), or

(c) of the superintendent under section 15 or 44 (8)

must be in writing.

  Section 93 (2) BEFORE amended by 2011-29-53, effective November 1, 2012 (BC Reg 208/2012).

(2)  A consent or refusal of a consent of the commission under section 11, 15, 15.1 (4) (c), 15.2 (1) (b), 16 (3), 20 (3), 44 (8), 81 (1.1) or 90 (2) must be in writing.

  Section 93 (1) and (2) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(1) An order of the commission under section 38 (1) or 76 (9) (a) or (b) must be in writing.

(2) A consent or refusal of a consent of the commission under section 11, 15.1 (4) (c), 15.2 (1) (b), 16 (3), 20 (3), 39.71, 44 (8), 81 (1.1) or 90 (2) must be in writing.

  Section 93 BEFORE re-enacted by 2021-2-144, effective August 1, 2021 (BC Reg 208/2021).

  Section 93 (2) (b) and (c) were added by 2021-2-144(rem), effective February 17, 2022 (BC Reg 32/2022).

  Section 94 (1) BEFORE amended by 2004-48-17, effective December 31, 2004 (BC Reg 597/2004).

(1)  The minister, the commission or the superintendent may

(a) impose conditions that the minister, the commission or the superintendent, as the case may be, considers necessary or desirable in respect of an order referred to in section 93 (1) or a consent referred to in section 93 (2), and

(b) remove or vary the conditions by his, her or its own motion or on the application of a person affected by the order or consent.

  Section 94 (1) BEFORE amended by 2019-14-29,Sch 2 and 2019-14-30,Sch 3, effective November 1, 2019 (BC Reg 197/2019).

(1) The commission may

(a) impose conditions that the commission considers necessary or desirable in respect of an order referred to in section 93 (1) or a consent referred to in section 93 (2), and

(b) remove or vary the conditions by the commission's own motion or on the application of a person affected by the order or consent.

  Section 94 BEFORE re-enacted by 2021-2-144, effective August 1, 2021 (BC Reg 208/2021).

  Section 95 (1), (2), (4) and (5) BEFORE amended by 2004-48-18, effective December 31, 2004 (BC Reg 597/2004).

(1)  Before

(a) making an order under section 38 (1),

(b) giving a consent referred to in section 93 (2) (a), (b) or (c) subject to conditions,

(c) by his, her or its own motion, varying conditions imposed in respect of an order or consent, or

(d) refusing to give a consent referred to in section 93 (2) (a), (b) or (c),

the minister, the commission or the superintendent, as the case may be, must deliver notice in writing of the intended action to any person directly affected.

(2)  Not later than 14 days after receiving notice under subsection (1) of an intended action, a person directly affected,

(a) by delivering a notice in writing to the commission, may require a hearing before the commission in any case where it is the minister or the commission that intends to take the action, or

(b) by delivering a notice in writing to the superintendent, may require a hearing before the superintendent in any case where it is the superintendent who intends to take the action.

(4)  After a hearing before the commission, in a case where the minister intends to take action, the commission must report the results of the hearing to the minister.

(5)  After

(a) the expiry of the 14 day period referred to in subsection (2) if no hearing has been required within that period, or

(b) the hearing if one has been required within that period,

the minister, the commission or the superintendent, as the case may be, may proceed in the exercise of the powers conferred under this Act in respect of the matter that was the subject of the notice delivered under subsection (1).

  Section 95 (1) BEFORE amended by 2019-14-29,Sch 2 and 2019-14-30,Sch 3, effective November 1, 2019 (BC Reg 197/2019).

(1) Before

(a) making an order under section 38 (1),

(b) giving a consent referred to in section 93 (2) subject to conditions,

(c) by the commission's own motion, varying conditions imposed in respect of an order or consent, or

(d) refusing to give a consent referred to in section 93 (2),

the commission must deliver notice in writing of the intended action to any person directly affected.

  Section 95 (2) and (5) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(2) Not later than 14 days after receiving notice under subsection (1) of an intended action, a person directly affected, by delivering a notice in writing to the commission, may require a hearing before the commission.

(5) After

(a) the expiry of the 14 day period referred to in subsection (2) if no hearing has been required within that period, or

(b) the hearing if one has been required within that period,

the commission may proceed in the exercise of the powers conferred under this Act in respect of the matter that was the subject of the notice delivered under subsection (1).

  Section 95 (1), (2) and (5) BEFORE amended by 2021-2-146(a) and (b), effective August 1, 2021 (BC Reg 208/2021).

(1) Before

(a) making an order under section 38 (1),

(b) giving a consent referred to in section 93 (2) subject to conditions,

(c) by the Authority's own motion, varying conditions imposed in respect of an order or consent, or

(d) refusing to give a consent referred to in section 93 (2),

the Authority must deliver notice in writing of the intended action to any person directly affected.

(2) Not later than 14 days after receiving notice under subsection (1) of an intended action, a person directly affected, by delivering a notice in writing to the Authority, may require a hearing before the Authority.

(5) After

(a) the expiry of the 14 day period referred to in subsection (2) if no hearing has been required within that period, or

(b) the hearing if one has been required within that period,

the Authority may proceed in the exercise of the powers conferred under this Act in respect of the matter that was the subject of the notice delivered under subsection (1).

  Section 95 (1.1) was added by 2021-2-146(a), effective August 1, 2021 (BC Reg 208/2021).

  Section 96 (1) and (2) BEFORE amended by 2004-48-19, effective December 31, 2004 (BC Reg 597/2004).

(1)  A hearing before the commission or the superintendent must be open to the public.

(2)  If the commission or the superintendent considers that a public hearing would be unduly prejudicial to a party or witness, the commission or the superintendent, as the case may be, may order that the public be excluded from all or part of the hearing.

  Section 96 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 96 BEFORE amended by 2021-2-147, effective August 1, 2021 (BC Reg 208/2021).

  Section 97 (1) BEFORE amended by 2004-48-20, effective December 31, 2004 (BC Reg 597/2004).

(1)  For the purpose of hearings under this Act, the commission, a panel of it or the superintendent has the same power

  Section 97 (1) (part) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(1) For the purpose of hearings under this Act, the commission or a panel of it has the same power

  Section 97 (1) BEFORE amended by 2021-2-148, effective August 1, 2021 (BC Reg 208/2021).

(1) For the purpose of hearings under this Act, the Authority or a panel of it has the same power

(a) to summon and enforce the attendance of witnesses,

(b) to compel witnesses to give evidence on oath or in any other manner, and

(c) to compel witnesses to produce records and things,

the Supreme Court has for the trial of civil actions, and the failure or refusal of a person

(d) to attend,

(e) to take an oath,

(f) to answer questions, or

(g) to produce the records or things in his or her custody or possession,

makes the person, on application to the Supreme Court, liable to be committed for contempt as if the person were in breach of an order or judgment of the Supreme Court.

  Section 98 BEFORE re-enacted by 2003-51-19, effective June 1, 2004 (BC Reg 222/2004).

  Section 98 (1) (a) BEFORE amended by 2004-48-5, effective December 31, 2004 (BC Reg 597/2004).

(a) an order of the superintendent under section 76 (9) (a) or (b),

  Section 98 (1) BEFORE amended by 2004-48-126(a), effective December 31, 2004 (BC Reg 597/2004).

(1)  A person directly affected by

(a) an order of the commission under section 76 (9) (a) or (b),

(b) a consent referred to in section 93 (2) (c) that is given subject to conditions, or

(c) a refusal of the superintendent to give a consent referred to in section 93 (2) (c)

may appeal the order, the conditional consent or the refusal of consent to the tribunal, and, unless otherwise provided for in this Act, sections 242.2 and 242.3 of the Financial Institutions Act apply.

  Section 98 (3) BEFORE amended by 2004-48-126(b), effective December 31, 2004 (BC Reg 597/2004).

(3)  A person directly affected by

(a) a consent, referred to in section 93 (2) (b), that is given subject to conditions, or

(b) a refusal of the commission to give a consent referred to in section 93 (2) (b)

may appeal the conditional consent or the refusal to the Supreme Court and, unless otherwise provided for in this Act, section 242.4 (2) to (5) of the Financial Institution Act applies.

  Section 98 (1) (a), (b) and (c) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(a) an order of the superintendent under section 76 (9) (a) or (b) acting in accordance with a delegation by the commission,

(b) a consent referred to in section 93 (2) that is given subject to conditions by the superintendent acting in accordance with a delegation by the commission, or

(c) a refusal of the superintendent, acting in accordance with a delegation by the commission, to give a consent referred to in section 93 (2)

  Section 98 (3) (b) and (c) BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

(b) a refusal of the commission to give a consent referred to in section 93 (2), or

(c) an order of the commission under section 76 (9)

  Section 98 (1) and (3) BEFORE amended by 2021-2-149, effective August 1, 2021 (BC Reg 208/2021).

(1) A person directly affected by

(a) an order of the superintendent under section 76 (9) (a) or (b) acting in accordance with a delegation by the Authority,

(b) a consent referred to in section 93 (2) that is given subject to conditions by the superintendent acting in accordance with a delegation by the Authority, or

(c) a refusal of the superintendent, acting in accordance with a delegation by the Authority, to give a consent referred to in section 93 (2)

may appeal the order, the conditional consent or the refusal of consent to the tribunal, and, unless otherwise provided for in this Act, sections 242.2 and 242.3 of the Financial Institutions Act apply.

(3) A person directly affected by

(a) a consent, referred to in section 93 (2), that is given subject to conditions,

(b) a refusal of the Authority to give a consent referred to in section 93 (2), or

(c) an order of the Authority under section 76 (9)

may appeal the conditional consent, refusal or order to the Supreme Court and, unless otherwise provided for in this Act, section 242.4 (2) to (5) of the Financial Institutions Act applies.

  Section 99 (1) BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).

(1)  An action for damages because of anything done or omitted to be done in good faith

(a) in the performance or intended performance of a duty, or

(b) in the exercise or intended exercise of a power

under this Act or the regulations must not be brought against the commission, a member of it, the superintendent or a person who is subject to the commission's or superintendent's direction.

  Section 99 BEFORE amended by 2019-14-34(a), (b) and (c), effective June 4, 2019 (BC Reg 116/2019).

  Section 99 (2) (a.1) was added by 2019-14-34(d), effective June 4, 2019 (BC Reg 116/2019).

  Section 99 BEFORE re-enacted by 2019-14-35, effective November 1, 2019 (BC Reg 197/2019).

  Section 100 BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).

  Section 101 (2) (e) BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).

(e) contravenes a condition of a consent given under this Act or the regulations.

  Section 101 (2) BEFORE amended by 2011-29-54(a), (b) and (c), effective November 1, 2012 (BC Reg 208/2012).

(2)  A person commits an offence who

(a) contravenes section 13, 64 (8), 65 (3) (b) or 69 (2),

(b) contravenes section 14, 60 (4), 61 (1) or (2), 62 (2) or (5), 63 or 68,

(c) knowingly provides false information in relation to a matter under this Act,

(d) contravenes a provision of the Company Act as it applies for the purposes of this Act, or

(e) contravenes a condition of a consent given under this Act.

  Section 101 (4) BEFORE amended by 2011-29-54(c), effective November 1, 2012 (BC Reg 208/2012).

(4)  If a credit union commits an offence under the Company Act as it applies for the purposes of this Act, a director or officer of the credit union who authorizes, permits or acquiesces in the offence commits the same offence, whether or not the credit union is convicted of the offence.

  Section 101 (5) to (16) were added by 2011-29-54(d), effective November 1, 2012 (BC Reg 208/2012).

  Section 102 (2) BEFORE amended by 2011-29-55, effective November 1, 2012 (BC Reg 208/2012).

(2)  A person who commits an offence under section 101 (2) (b), (d) or (e) is liable

  Section 102 BEFORE amended by 2019-39-121, effective January 27, 2020 (BC Reg 7/2020).

  Section 104 BEFORE amended by 2004-48-22, effective December 31, 2004 (BC Reg 597/2004).

  Section 104 BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).

  Section 104 BEFORE amended by 2011-29-56, effective November 1, 2012 (BC Reg 208/2012).

  Section 104 BEFORE amended by 2019-14-29,Sch 2, effective November 1, 2019 (BC Reg 197/2019).

  Section 105 BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).

  Section 105 BEFORE amended by 2011-29-57, effective November 1, 2012 (BC Reg 208/2012).

  Section 106 BEFORE re-enacted by 2011-29-58, effective November 1, 2012 (BC Reg 208/2012).

  Section 107 (1) BEFORE amended by 2011-29-59, effective November 1, 2012 (BC Reg 208/2012).

(1)  If an omission, defect, error or irregularity has occurred in the conduct of the business or affairs of a credit union by which

(a) a breach of a provision of this Act or of the Company Act as it applies for the purposes of this Act has occurred,

(b) there has been default in compliance with the constitution or rules of the credit union, or

(c) proceedings at or in connection with any general meeting, class meeting, series meeting or meeting of the directors of the credit union or at or in connection with any assembly purporting to be such a meeting have been rendered ineffective,

then, despite any other provisions of this Act or the Company Act as it applies for the purposes of this Act, the Supreme Court

(d) either of its own motion or on the application of an interested person may make an order to rectify or cause to be rectified or to negative or modify or cause to be negatived or modified the consequences in law of the omission, defect, error or irregularity, or to validate an act, matter or thing rendered or alleged to have been rendered invalid by or as a result of the omission, defect, error or irregularity, and may give ancillary or consequential directions the Supreme Court considers necessary, but

(e) before making an order, must consider the effect of the order on the credit union and on the directors, officers, members and creditors of the credit union.

  Section 107.1 was enacted by 2011-29-60, effective November 1, 2012 (BC Reg 208/2012).

  Part 8.1, sections 107.2 to 107.4 were enacted by 2011-29-61, effective November 1, 2012 (BC Reg 208/2012).

2011-29-61 was further amended by 2012-12-73.

  Section 107.2 BEFORE repealed by 2012-12-73, effective November 1, 2012 (BC Reg 209/2012.

  Section 108 (2) (g.1) was added by 2003-96-13(a), effective February 5, 2004 (BC Reg 40/2004).

  Section 108 (4) was added by 2003-96-13(b), effective February 5, 2004 (BC Reg 40/2004).

  Section 108 (2.1) was added by 2004-48-23, effective December 31, 2004 (BC Reg 597/2004).

  Section 108 (2) (a), (f) and (h) BEFORE amended by 2011-29-62, effective November 1, 2012 (BC Reg 208/2012).

(a) prescribing

(i)  forms corresponding to any of Forms 1 to 23 of the Company Act, and

(ii)  other forms whether or not specifically mentioned in this Act or the Company Act as it applies for the purposes of this Act;

(f) prescribing fees to be paid in respect of matters connected with the administration of this Act or of the Company Act as it applies for the purposes of this Act;

(h) defining a word or expression used but not defined in this Act or in the Company Act as it applies for the purposes of this Act.

  Section 108 (2) (c.1) was added by 2019-39-122(a), effective February 17, 2022 (BC Reg 32/2022).

  Part 10, section 109 was enacted by 2004-48-24, effective December 31, 2004 (BC Reg 597/2004).