(B) the mortgage is on real property other than residential property and
	(I) the amount of the loan, together with the amount then outstanding of any mortgage having an equal or prior claim against the property, exceeds 75% of the value of the property at the time the loan is made or acquired,
	(II) repayment of the amount of the loan that exceeds 75% of the value of the property is guaranteed or insured by a government agency or private insurer approved by the Superintendent, and
	(III) at the time the loan is made or acquired, the property provides an annual income sufficient to pay all annual expenses related to the property, including the payments owing under the mortgage and the mortgages having an equal or prior claim against the property,
	(2) Paragraph (b) of the definition ``commercial loan'' in subsection 386(1) of the Act is amended by striking out the word ``or'' at the end of subparagraph (iv), by replacing the word ``and'' at the end of subparagraph (v) with the word ``or'' and by adding the following after subparagraph (v):
	(vi) debt obligations of an entity controlled by the association, and
	(3) Paragraph (c) of the definition ``commercial loan'' in subsection 386(1) of the Act is amended by striking out the word ``or'' at the end of subparagraph (i) and by replacing subparagraph (ii) with the following:
	(ii) shares or ownership interests of an entity controlled by the association, or
	(iii) participating shares;
	(4) Paragraphs (b) and (c) of the definition ``information services corporation'' in subsection 386(1) of the Act are replaced by the following:
	(b) providing advisory or other services in the design, development or implementation of information management systems, or
	(c) designing, developing or marketing computer software,
	(5) Paragraphs (a) to (c) of the definition ``service corporation'' in subsection 386(1) of the Act are replaced by the following:
	(a) an association,
	(b) an entity in which an association has a substantial investment,
	(c) a financial institution that is affiliated with an association,
	(6) Paragraphs (e) and (f) of the definition ``service corporation'' in subsection 386(1) of the Act are replaced by the following:
	(e) any other Canadian financial institution incorporated or formed by or under an Act of Parliament that has a substantial investment in the body corporate,
	(f) an entity in which any Canadian financial institution referred to in paragraph (e) has a substantial investment,
	(7) The definition ``service corporation'' in subsection 386(1) of the Act is amended by striking out the word ``and'' at the end of paragraph (g) and by adding the following after paragraph (h):
	(i) a cooperative credit society, and
	(j) a financial institution in which a cooperative credit society has a substantial investment
	(8) The portion of the definition ``special purpose computer hardware'' in subsection 386(1) of the Act before paragraph (a) is replaced by the following:
``special purpose computer hardware'' « matériel informatique spécial »	``special purpose computer hardware'' means computer equipment that is integral to the provision of
	141. (1) Paragraph 388(2)(b) of the Act is replaced by the following:
	(b) an acquisition of shares or ownership interests in the entity by
	(i) a financial institution or specialized financing corporation that is controlled by the association, or
	(ii) an entity controlled by a financial institution or specialized financing corporation that is controlled by the association.
	(2) The portion of subsection 388(3) of the Act before paragraph (a) is replaced by the following:
Exception: temporary investments, realizations and loan workouts	(3) An association may acquire or increase a substantial investment in an entity by way of
	142. (1) Paragraph 390(1)(l) of the Act is replaced by the following:
	(l) a financial holding corporation that does not have a substantial investment in any entity, other than in
	(i) a body corporate referred to in this subsection,
	(ii) an entity referred to in subsection (1.1),
	(iii) a real property holding vehicle referred to in subsection (2), or
	(iv) any other entity in which a financial institution or specialized financing corporation controlled by the financial holding corporation has a substantial investment;
	(2) Paragraph 390(1)(m) of the Act is replaced by the following:
	(m) a body corporate
	(i) whose activities are ancillary to the business of the association or of a financial institution that is its subsidiary, and
	(ii) that does not provide services to any person other than the association and the persons referred to in subsection 375(1); or
	(3) Section 390 of the Act is amended by adding the following after subsection (1):
Other permitted substantial investments	(1.1) Subject to Part XII and any terms and conditions that may be imposed by the Minister, an association may, with the approval of the Minister, acquire or increase a substantial investment in an entity that is not a body corporate if the activities of the entity are the same as or substantially similar to those of a body corporate referred to in any of paragraphs (1)(b) to (n).
Exception	(1.2) Subsection (1.1) does not apply to the acquisition or increase of a substantial investment in a real property holding vehicle.
	(4) Subsection 390(3) of the Act is amended by adding the following after paragraph (a):
	(a.1) in the case of a body corporate referred to in paragraph (1)(n) that carries on one or more of the businesses or activities engaged in or carried on by bodies corporate referred to in any of paragraphs (1)(b), (c), (k) and (l),
	(i) the association controls the body corporate or would thereby acquire control of the body corporate, or
	(ii) the association is permitted by regulations made under paragraph 396(a) to acquire or increase the substantial investment;
	(5) Subsection 390(3) of the Act is amended by striking out the word ``and'' at the end of paragraph (b), by adding the word ``and'' at the end of paragraph (c) and by adding the following after paragraph (c):
	(d) in the case of a body corporate referred to in paragraph (1)(n) that carries on one or more of the businesses or activities engaged in or carried on by bodies corporate referred to in any of paragraphs (1)(d), (k) and (m), the association obtains the prior written approval of the Minister on the recommendation of the Superintendent.
	(6) Subsections 390(4) to (6) of the Act are replaced by the following:
Control not required	(4) Notwithstanding paragraphs (3)(a) and (a.1), an association need not control a foreign institution or other body corporate incorporated elsewhere than in Canada in which it has a substantial investment, and that it would otherwise be required by one of those paragraphs to control, if the laws or customary business practices of the country under the laws of which the foreign institution or body corporate was incorporated do not permit the association to control the foreign institution or body corporate.
Approval for indirect investments	(5) For the purposes of paragraphs (3)(b) and (d), where an association obtains the prior written approval of the Minister for the association to acquire or increase a substantial investment in a financial institution or a specialized financing corporation and through that acquisition or increase the association indirectly acquires or increases a substantial investment in another body corporate referred to in any of paragraphs (1)(d), (k) and (m), and that indirect acquisition or increase is disclosed in writing to the Minister before that approval is obtained, the association is deemed to have obtained the prior written approval of the Minister for that indirect acquisition or increase.
Acquisition of legal control without control in fact	(6) An association shall not, without the prior written approval of the Minister, acquire control of a body corporate, as authorized by subparagraph (3)(a)(i), unless it also acquires control of the body corporate within the meaning of paragraph 3(1)(e).
Giving up control in fact	(7) An association that acquires control of a body corporate, as authorized by paragraph (3)(a)(i), shall not, without the prior written approval of the Minister, give up control of the body corporate within the meaning of paragraph 3(1)(e) while continuing to control the body corporate.
Giving up of control	(8) An association that controls a body corporate referred to in paragraph (3)(a) may give up control of the body corporate and keep a substantial investment in the body corporate if
	(a) the association is permitted to do so by regulations made under paragraph 396(b); and
	(b) the association has the prior written approval of the Superintendent.
	143. (1) The portion of subsection 394(1) of the Act after paragraph (d) is replaced by the following:
	but the association shall, within five years after acquiring the shares or ownership interests, do all things necessary to ensure that the association does not have a substantial investment in any entity referred to in paragraphs (a) to (d).
	(2) Subsections 394(2) and (3) of the Act are replaced by the following:
Transitional	(2) Notwithstanding subsection (1), where on September 27, 1990 an association had an investment in an entity that is a substantial investment within the meaning of section 12 and the association later increases that substantial investment by way of an investment made under subsection (1), the association shall, within five years after increasing the substantial investment, do all things necessary to ensure that its substantial investment in the entity is no greater than it was on September 27, 1990.
Extension	(3) The Superintendent may, in the case of any particular association, extend the period of five years referred to in subsections (1) and (2) for any further period or periods, and on any terms and conditions, that the Superintendent considers necessary.
Exception	(4) Where under subsection (1) an association acquires a substantial investment in an entity that it would otherwise be permitted to acquire or increase under section 390, the association may continue to hold the substantial investment if the approval in writing of the Minister is obtained before the end of the period referred to in subsection (1) or (2), including any extension of it granted under subsection (3).
	144. Subsections 395(2) to (4) of the Act are replaced by the following:
Disposition	(2) Subject to subsection 81(2), where an association acquires a substantial investment in an entity by way of the realization of a security interest held by the association, the association shall, within five years after the day on which the substantial investment is acquired, do all things necessary to ensure that the association no longer has a substantial investment in the entity.
Transitional	(3) Notwithstanding subsection (2), where on September 27, 1990 an association had an investment in an entity that is a substantial investment within the meaning of section 12 and the association later increases that substantial investment by way of the realization of a security interest under subsection (1), the association shall, within five years after increasing the substantial investment, do all things necessary to ensure that its substantial investment in the entity is no greater than it was on September 27, 1990.
Extension	(4) The Superintendent may, in the case of any particular association, extend the period of five years referred to in subsections (2) and (3) for any further period or periods, and on any terms and conditions, that the Superintendent considers necessary.
	145. (1) Paragraph 396(a) of the English version of the Act is replaced by the following:
	(a) for the purposes of subsection 390(3), permitting the acquisition or increase of substantial investments;
	(2) Paragraph 396(b) of the Act is replaced by the following:
	(b) for the purposes of subsection 390(8), permitting an association to give up control of a body corporate; and
	146. (1) Paragraph 397(1)(b) of the Act is replaced by the following:
	(b) for a period of five years after the day on which the loan, investment or interest was acquired, in the case of a loan, investment or interest, other than an interest in real property.
	(2) Subsection 397(3) of the Act is replaced by the following:
Exception	(3) Subsection (1) does not apply to an investment or interest described in that subsection if the investment or interest is defined by a regulation made under section 402 to be an interest in real property and
	(a) the association or the subsidiary acquired the investment or interest as a result of the realization of a security interest securing a loan that was defined by a regulation made under section 402 to be an interest in real property; or
	(b) the association or the subsidiary acquired the investment or interest under section 394 as a result of a default referred to in that section in respect of a loan that was defined by a regulation made under section 402 to be an interest in real property.
	147. Paragraph 403(d) of the Act is replaced by the following:
	(d) all ownership interests in unincorporated entities, other than ownership interests acquired under section 390 in entities in which the association has a substantial investment,
	148. Section 405 of the Act is renumbered as subsection 405(1) and is amended by adding the following:
Approved holding of investment	(2) The association may continue to hold the substantial investment after the end of the period referred to in subsection 393(1) or (2) that applies in respect of the investment, including any extension of the period granted under subsection 393(4), with the approval in writing of the Minister obtained before the end of that period or extended period.
	149. (1) Subsection 406(1) of the Act is replaced by the following:
Assets transactions	406. (1) An association shall not at any time, without the prior written approval of the Superintendent, directly or indirectly acquire assets from a person, or directly or indirectly transfer assets to a person, if
	A + B > C
	where
	A is the value of the assets;
	B is the total value of all assets that the association directly or indirectly acquired from, or directly or indirectly transferred to, that person in the twelve months ending immediately before that time; and