Interpretation

1   In this regulation "Act" means the Financial Institutions Act.

Deposits from Crown corporations permitted

2   (1) The following persons are a prescribed class of persons, for the purpose of section 82 (1) (i) of the Act:

(a) a corporation

(i) that, under a statute of Canada, is an agent of the Crown,

(ii) of which the government of Canada owns, directly or indirectly, more than 50% of the issued voting shares, or

(iii) that is controlled by the government of Canada;

(b) a person designated as an agent of the Crown under a statute of the Province or of Canada.

(2) For the purpose of subsection (1) a corporation is controlled by the government of Canada if a majority of the members of the corporation or of its board of directors or board of management consists of either or both of the following:

(a) persons appointed as members by the Governor General in Council, by a federal minister or under a statute of Canada;

(b) public officers acting as such.