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| B.C. Reg. 310/90 O.C. 1338/90 |
Deposited September 7, 1990 effective September 15, 1990 |
| This archived regulation consolidation is current to April 1, 2005 and includes changes enacted and in force by that date. For the most current information, click here. |
Credit Union Incorporation Act
[includes amendments up to B.C. Reg. 567/2004, December 31, 2004]
1 In this regulation:
"Act" means the Credit Union Incorporation Act;
"financial leasing" means leasing property by means of a direct financing lease as defined in the Handbook of the Canadian Institute of Chartered Accountants, as amended from time to time;
"venture capital corporation" has the same meaning as in section 141 of the Financial Institutions Act.
[en. B.C. Reg. 215/2002, s. (a); am. B.C. Reg. 567/2004, Sch. s. 2.]
2 For the purpose of section 81 (2) (b) of the Act, the following kinds of business are prescribed:
(a) trust business and business ancillary to trust business;
(b) deposit business and business ancillary to deposit business;
(c) insurance business and business ancillary to insurance business;
(d) investment counselling;
(e) portfolio management;
(f) the provision of data processing or information services related to financial institutions, but the total direct and indirect investment in any subsidiary carrying on those services outside British Columbia must not exceed 1% in the aggregate of the credit union’s assets;
(g) financial leasing;
(h) business of a venture capital corporation.
[am. B.C. Reg. 215/2002, s. (b); am. B.C. Reg. 567/2004, Sch. s. 3.]
[Provisions of the Credit Union Incorporation Act, R.S.B.C. 1996, c. 82, relevant to the enactment of this regulation: sections 81 (2) (b), 108]
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