Loan and Trust Corporations (Ministerial) Regulation

(Consolidated up to 251/2001) ALBERTA REGULATION 172/92 Loan and Trust Corporations Act LOAN AND TRUST CORPORATIONS (MINISTERIAL) REGULATION Table of Contents 1 Prescribed insurance and guarantee plans 2 Information to be provided to Minister 5 Retention of records 6 Name requirements 7 Exception 8 Fees Schedule Prescribed insurance and guarantee plans 1 The following are prescribed as deposit insurance plan and guarantee plans for the purposes of section 1(1)(l) and (r)(iii) of the Act and as public agencies for the purposes of section 188(12)(b) of the Act: (a) Régie de l’assurance ‑ Dépôts du Québec; (b) the Credit Union Deposit Guarantee Corporation (Alberta); (c) the Credit Union Deposit Insurance Corporation (British Columbia); (d) the Ontario Savings and Deposit Insurance Corporation. AR 172/92 s1;251/2001 Information to be provided to Minister 2 (1) Repealed AR 223/98 s2. (2) A provincial trust corporation shall submit the report referred to in section 173(5) of the Act to the Minister within 30 days of its approval by the board of directors. (3) A registered corporation shall notify the Minister in writing (a) of the imposing of any terms, conditions or restrictions on its registration in any other jurisdiction in Canada, or (b) of any changes or additions to terms, conditions or restrictions so imposed within 3 business days of their being imposed or of the making of the changes or additions. (4) A provincial corporation shall file with the Minister not later than the end of the month following each quarterly fiscal period of the corporation a financial return in the prescribed form. AR 172/92 s2;223/98 3 , 4 Repealed AR 223/98 s3. Retention of records 5 (1) The periods of time for which a provincial corporation is required to retain records, papers and documents are as follows: (a) as long as the provincial corporation exists, in the case of (i) minutes of board meetings, (ii) minutes of general meetings of the corporation, (iii) records containing details of the ownership and transfer of shares issued by the corporation, (iv) the general ledger or other book of final entry containing summaries of the year‑to‑year transactions, and (v) special contracts or agreements necessary for an understanding of the entries in the general ledger or other book of final entry referred to in subclause (iv); (b) in the case of all other records and books of account, and accounts and vouchers necessary to verify the information contained in those records and books of account, the period ending 6 years after the end of the last fiscal year to which the records and books of account relate. (2) A provincial corporation shall, where reasonably practicable, retain the originals rather than copies of records, papers and documents referred to in subsection (1). AR 172/92 s5 Name requirements 6 (1) No letters patent may be issued to a corporation and no corporation may be registered unless the name of the corporation meets the following requirements: (a) the name must not contain anything other than (i) letters of the alphabet used in the English or French language, (ii) arabic numerals, and (iii) punctuation marks, symbols or other marks in common usage in the English or French language; (b) the first character of the name must be an arabic numeral or a letter of the alphabet; (c) the name may not contain a year unless the corporation is an amalgamated corporation and the year is the year the amalgamation took place. (2) Documents provided to the Minister in connection with (a) the incorporation of a provincial corporation, (b) the registration of a corporation, (c) an amalgamation under Part 12 of the Act where the name of the amalgamated corporation is not identical to the name of one of the amalgamating bodies corporate, or (d) the issue of supplementary letters patent involving the change of the name of a corporation must be accompanied by an original Alberta Search Report from the NUANS system maintained by the Government of Canada, dated not more than 90 days before the date of submission of the report. (3) A name identified in the name search report as “proposed” may not be used by a corporation unless the corporation (a) is the person who first proposed the name, or (b) has the consent in writing of the person who first proposed the name. AR 172/92 s6;206/2001 Exception 7 An extra‑provincial corporation may be registered with a name that contravenes the requirements of section 20(1) of the Act if (a) the name was already in existence on the coming into force of the Act, or (b) the name was not in existence on the coming into force of the Act, but has become known in another jurisdiction and the Minister is satisfied that a change in the name would cause additional expense to the corporation or a loss of business or both, and the Minister is satisfied that the name is not likely to cause confusion with the proposed name of a provincial corporation or the name of an existing registered corporation. AR 172/92 s7 Fees 8 The fees payable for the purposes of the Act are the fees prescribed in Schedule 2. AR 172/92 s8 Schedule 1 Repealed AR 223/98 s4. Schedule 2 Fees 1 (1) The following fees are payable for the following services under the Act: (a) to process an application for letters patent $5000 (b) to process an application for supplementary letters patent (i) under section 17(1)(b) or (c) of the Act or in the case of an amalgamation 2000 (ii) under section 17(1)(a) or (d) to (l) of the Act 500 (c) to process an application for registration 1000 (d) to process an application for a change to terms, conditions or restrictions to which a corporation’s registration is subject 1000 (e) to process an application to change the borrowing multiple limit referred to in section 15 of the Loan and Trust Corporations Regulation 1000 (f) to process an application for the Minister’s consent under section 77 of the Act to transfer or issue shares 1000 (g) for any other service provided by the Minister that is similar to a service provided by the Registrar under the Business Corporations Act , the same fee is payable as is payable under the Business Corporations Regulation (Alta. Reg. 27/82). (2) Repealed AR 251/2001 s75. (3) The fees referred to in subsection (1) are payable when the service is requested. (4) Every registered corporation shall on or before June 30 in every year pay an annual fee determined in accordance with the following: (a) where the assets of the corporation do not exceed $50 000 000, the fee is $3000 (b) where the assets of the corporation exceed $50 000 000 but do not exceed $100 000 000, the fee is 4000 (c) where the assets of the corporation exceed $100 000 000 but do not exceed $500 000 000, the fee is 5000 (d) where the assets of the corporation exceed $500 000 000 but do not exceed $1 000 000 000, the fee is 6000 (e) where the assets of the corporation exceed $1 000 000 000 but do not exceed $5 000 000 000, the fee is 8000 (f) where the assets of the corporation exceed $5 000 000 000, the fee is $10 000 and $1000 for every $1 000 000 000 or part thereof in assets in excess of $5 000 000 000. (5) For the purposes of subsection (4) a corporation’s assets shall be (a) as shown in the corporation’s financial statements and auditor’s report filed with the Minister for the immediately preceding fiscal year, or (b) as determined by the Minister, in a case where (i) June 30 falls within the first fiscal year of the corporation, or (ii) the corporation has not filed its financial statements and auditor’s report for the immediately preceding fiscal year as required under the Act. AR 172/92 Sched.2;251/2001