Sec. 223.2 What is an “affiliate” for purposes of sections

Annual Statement (Banks and Bank Holding Companies) Regulations (SOR/2010-230) Bank Holding Company Proposal Regulations (SOR/2004-199) Bank Recapitalization (Bail-in) Issuance Regulations (SOR/2018-58) Cheque Holding Policy Disclosure (Banks) Regulations (SOR/2002-39) Civil Remedies (Banks and Bank Holding Companies) Regulations (SOR/2006-299) Is there a statutory or common law definition of 'affiliate' in UK law or is the term synonymous with the definitions of subsidiary or holding company as set out in the Companies Act 2006? The Bank Holding Company Act of 1956 was implemented in response to banks forming bank holding companies in order to own both banking and non-banking businesses. This Act, among other things, generally prohibited a bank holding company from engaging in most non-banking activities or acquiring voting securities of certain companies that are not banks.A company that owns two or more banks. The following shall not be considered to be an affiliate: any company, other than a bank, that is a subsidiary of a member bank, unless a determination is made under paragraph (1)(E) not to exclude such subsidiary company from the definition of affiliate; any company engaged solely in holding the premises of the member bank; Legal and Policy Framework Bank Holding Company Act of 1956. The Bank Holding Company Act (BHC Act) establishes the terms and conditions under which a company can own a bank in the U.S. and authorizes the Federal Reserve to adopt regulations as necessary in order to administer, uphold, and enforce the BHC Act. Some of the key concepts and

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