Authorized Foreign Bank definition

Authorized Foreign Bank means an “authorized foreign bank” as defined for the purposes of the ITA.
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Authorized Foreign Bank has the meaning ascribed thereto by subsection 248(1) of the Income Tax Act (Canada), and, by reference therein, the meaning ascribed thereto by Xxxxxxx 0 xx xxx Xxxx Xxx (Xxxxxx).
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Authorized Foreign Bank has the meaning ascribed thereto in subsection 248(1) of the Tax Act and by reference therein, the meaning ascribed thereto by section 2 of the Bank Act (Canada), as amended, and any successor thereto.
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Examples of Authorized Foreign Bank in a sentence

  • As an Authorized Foreign Bank, Maple Bank was regulated with respect to its business in Canada (the “Toronto Branch”) by the Office of the Superintendent of Financial Institutions (“OSFI”).2.

  • Upon receipt of a copy of that written approval, the Depository shall follow the written direction of the Authorized Foreign Bank in respect of the asset.

  • The Depository shall at all times, upon reasonable notice, permit the Superintendent and the Authorized Foreign Bank access, for purposes of examination, to all assets deposited with the Depository under this Agreement and to the records of the Depository and any agent of the Depository in relation thereto.

  • The Depository and, subject to the prior written approval of the Superintendent, the Authorized Foreign Bank, may terminate this Agreement on at least thirty (30) days notice in writing to the Superintendent and the other party specifying in the notice the date of termination.

  • IN WITNESS WHEREOF the Authorized Foreign Bank, the Depository and the Superintendent have executed this Agreement as of the date and year first above written.

  • The Depository is entitled to reasonable compensation for its services and expenses under this Agreement as may be agreed upon by the Authorized Foreign Bank and Depository, and if no such agreement is reached, either the Authorized Foreign Bank or the Depository may on ten days notice in writing apply to a court of competent jurisdiction to fix the compensation that the Authorized Foreign Bank shall pay the Depository.

  • The Authorized Foreign Bank appoints, as depository, the Depository to hold for the purposes of the Act the assets that the Authorized Foreign Bank may deposit with the Depository pursuant this Agreement.

  • The Authorized Foreign Bank shall identify to the Depository, in writing, those Authorized Foreign Bank representatives authorized to direct the Depository in respect of a matter under this Agreement.

  • The Depository or its affiliate shall pay the Authorized Foreign Bank interest on monies held on deposit under this Agreement at a rate that is not less than the rate paid by the Depository on the same or similar accounts.

  • State Street Bank and Trust Company, Toronto Branch SSBT is an Authorized Foreign Bank (“AFB”) under the Bank Act, Canada.


More Definitions of Authorized Foreign Bank

Authorized Foreign Bank means a foreign bank in respect of which an order under subsection 524(1) has been made;
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Authorized Foreign Bank a Lender which is an “authorized foreign bank”, as defined in Section 2 of the Bank Act (Canada) and Section 248 of the Income Tax Act (Canada), which holds Loans to the Canadian Borrower hereunder and receives all amounts payable by the Canadian Borrower as part of its “Canadian banking business”, for purposes of the Income Tax Act (Canada), with the result that such Lender is deemed to be resident in Canada for purposes of Part XIII of the Income Tax Act (Canada), in respect of any amount paid or credited or to be paid or credited by the Canadian Borrower to such Lender.
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Authorized Foreign Bank means an authorized foreign bank within the meaning of section 2 of the Bank Act.
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Related to Authorized Foreign Bank

  • Approved Foreign Bank has the meaning specified in the definition of “Cash Equivalents.”

  • Foreign Bank means an organization that (i) is organized under the laws of a foreign country, (ii) engages in the business of banking, (iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations, (iv) receives deposits to a substantial extent in the regular course of its business, and (v) has the power to accept demand deposits, but does not include the U.S. branches or agencies of a foreign bank;

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Authorized Driver means any of the following:

  • Authorized entity means a nonprofit organization or a governmental agency that has a primary mission to provide specialized services relating to training, education, or adaptive reading or information access needs of blind or other persons with disabilities;

  • Authorized By means the same as "authorization" as defined in § 24.2-945.1.

  • Licensed financial institution means a financial institution issued a license under this act.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • approved form means a form approved by the Minister;

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • Financial institution means a Bank, Development Finance Institution, Non Banking Finance Company, Modaraba or an institution registered under relevant laws to provide financial services within or outside Pakistan.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Authorized Amount means $ , the maximum principal amount of the Funding Loan under this Funding Loan Agreement.

  • Qualified United States financial institution means an institution that:

  • Foreign Firm or Institution means a firm or institution organized or existing under the laws of a country other than the United States, its territories, or possessions. The term includes, for purposes of this Agreement, any agency or instrumentality of a foreign government; and firms, institutions or business organizations which are owned or substantially controlled by foreign governments, firms, institutions, or individuals.