Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
241 Restriction on subordinated indebtedness
indebtedness unless the subordinated indebtedness is fully paid for
in money or, with the approval of the Minister, in property.
(2) A person must not in any prospectus, advertisement,
correspondence or literature relating to any subordinated
indebtedness issued or to be issued by a provincial company refer
to the subordinated indebtedness otherwise than as subordinated
indebtedness.
(3) When issuing subordinated indebtedness, a provincial company
may provide that any aspect of the subordinated indebtedness
relating to money or involving the payment of or the liability to pay
money in relation to the subordinated indebtedness be in a currency
other than that of Canada, including, without restricting the
generality of the foregoing, the payment of any interest on the
subordinated indebtedness.
1999 cI-5.1 s241
RSA 2000