Authorized Lenders Regulations

Regulation

Registration: R-094-2007
Source: Unofficial consolidation PDF (justice.gov.nt.ca)
Under: Hamlets Act

This is an unofficial reading copy parsed from the Department of Justice consolidation PDF above — itself an office consolidation, not an official statement of the law. The authoritative text is in the Revised Statutes of the Northwest Territories, 1988 and the annual Statutes volumes.

Contents

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The Commissioner, on the recommendation of the Minister, under section 169 of the Hamlets Act and every enabling power, makes the Authorized Lenders Regulations.

In these regulations,

"Canadian financial institution" means

(a) a bank,

(b) a trust, loan or insurance corporation,

(d) an entity that is primarily engaged in dealing in securities, including underwriting, portfolio management and investment counselling,

that is formed, incorporated or continued by or under an Act of Canada or of the Northwest Territories, another territory or a province; (institution financière canadienne)

"foreign financial institution" means an entity that is primarily engaged in the business of

(a) banking,

(b) providing trust, loan or insurance services,

(d) dealing in securities, including underwriting, portfolio management and investment counselling,

that is formed, incorporated or continued under the laws of a country other than Canada. (institution financière étrangère)

A municipal corporation may borrow from

(a) a Canadian financial institution;

(b) a foreign financial institution;

(c) the Government of Canada, the Government of the Northwest Territories or the government of another territory or a province; or

(d) a funding program directly or indirectly funded by or approved by a government referred to in paragraph (c) for the purpose of providing funding to municipal corporations.

The Authorized Lenders Regulations, established by regulation numbered R-093-97, are repealed.