BILL NO. 43

                                              Government Bill

                 
                                                               
              3rd Session, 56th General Assembly
                         Nova Scotia
                    44 Elizabeth II, 1995

                 
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                 An Act to Amend Chapter 235
                of the Revised Statutes, 1989,
                    the Interpretation Act










                 
                                                               
                                                               
               The Honourable Eleanor E. Norrie
           Minister of Housing and Consumer Affairs


                 
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                               
                                                             
                 
                                                               
                           Halifax
         Printed by Queen''s Printer for Nova Scotia
                               
                               
                       Explanatory Note


         This Bill adds to the definition of "bank" credit unions and trust and loan companies that
are incorporated either federally or provincially and that are authorized to accept or receive
money on deposit.




                  An Act to Amend Chapter 235
                 of the Revised Statutes, 1989,
                     the Interpretation Act



         Be it enacted by the Governor and Assembly as follows:


         1  Clause 7(1)(b) of Chapter 235 of the Revised Statutes, 1989, the Interpretation Act,
is repealed and the following clause substituted therefor:

            (b) "bank" or "chartered bank" means a bank to which the Bank Act (Canada)
         applies, a credit union incorporated pursuant to the Credit Union Act or a trust or loan
         company that is authorized to carry on business by or pursuant to the Trust and Loan
         Companies Act and receive or accept deposits within the meaning of that Act, and includes
         a branch, agency or office of a bank, credit union or trust or loan company;


         2  This Act comes into force on such day as the Governor in Council orders and
declares by proclamation.