Statutes of Newfoundland and Labrador 2012 Chapter 39

AN ACT TO AMEND THE TRUST AND LOAN CORPORATIONS ACT

(Assented to December 22, 2012)

Analysis

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

SNL2007 cT-9.1

1. (1) Paragraph 3(a) of the Trust and Loan Corporations Act is repealed and the following substituted:

(a) holds a valid and existing licence under the Trust and Loan Companies Act (Canada) or the Cooperative Credit Associations Act (Canada);

(2) Paragraph 3(c) of the Act is repealed and the following substituted:

(c) is registered in the registry of companies under section 383 of the Corporations Act or the registry of co-operatives under section 18 of the Co-operatives Act.

Commencement

2. This Act shall be considered to have come into force on July 1, 2007.