3207. Identification exceptions

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    1. Sections 3203, 3204 and 3206 do not apply to:
      1. An entity registered under securities laws to:
        1. engage in the business of trading or advising in securities, or 
        2. act as an investment fund manager,
      2. an investment fund that is regulated under securities laws,
      3. a Canadian financial institution (as described in sub-section 3207(2) below),
      4. an affiliate of a Canadian financial institution (as described in sub-section 3207(2) below), if that affiliate carries out activities similar to that Canadian financial institution,
      5. a Schedule III bank, 
      6. a pension fund that is regulated by or under an Act of Parliament or the legislature of a province, 
      7. an entity that is a Canadian public body, or a corporation that has minimum net assets of $75 million on its last audited balance sheet and whose shares are traded on a Canadian stock exchange or a stock exchange designated under section 262(1) of the Income Tax Act (Canada), and operates in a country that is a member of the Financial Action Task Force. For the purpose of clause 3207(1)(vii), the term “stock exchange” has the same interpretation as used in the Income Tax Act (Canada), or
      8. an entity that is an affiliate of a public body or a corporation referred to in paragraph (vii) above and the financial statements of the entity are consolidated with the financial statements of that public body or corporation.  
    2. A Canadian financial institution includes: 
      1. an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or
      2. a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada.

    3208. – 3209.  Reserved.

    There is no history log for this rule.

    There is no history log for this rule.