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B.C. Reg. 575/2004 O.C. 1237/2004 | Deposited December 13, 2004 effective December 31, 2004 |
[includes amendments up to B.C. Reg. 185/2015, October 5, 2015]
1 In this regulation:
"Act" means the Financial Institutions Act;
"factoring" means the business of buying or selling, outright and without recourse, accounts receivable;
"financial leasing" means leasing property by means of a direct financing lease as defined in the CPA Canada Handbooks, as amended from time to time;
"permitted entity" means a savings institution, a corporation or entity that offers services that a financial institution may engage in directly under this regulation, or a corporation or entity in which a financial institution may own more than 10% of the voting shares or a 10% interest as specified in section 6.2 of the Investment and Lending Regulation.
[am. B.C. Reg. 185/2015, s. 4.]
2 The following are businesses of a prescribed type for the purpose of section 65 (1) (c) of the Act:
(c) the issuing of credit cards and the operation of associated credit card systems;
(d) the promotion of merchandise and services to holders of credit cards issued by the financial institution;
(e) the acquisition, holding, maintenance, improvement, sale, lease or management of real property, or may act as an agent in the sale or purchase of real property;
(h) the provision of data processing or information services relating to financial institutions;
(i) the collection, manipulation and transmission of information that is primarily financial or economic in nature and is provided to permitted entities;
(j) business management and advisory services;
(k) the business of a financial agent;
(i) tickets, including lottery tickets, for special, temporary and infrequent non-commercial celebrations or projects that are of local, municipal, provincial or national interest, as a non-profit service,
(ii) urban transit tickets, and
(iii) tickets for a lottery sponsored by the federal government, a provincial government or a municipal government or by an agency of any of those governments;
(m) subject to the Act and the regulations, acting as agent for any person for the provision of any service provided by a permitted entity.
[Provisions relevant to the enactment of this regulation: Financial Institutions Act, R.S.B.C. 1996, c. 141, section 289]
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