Clause 56

by inserting, immediately after the words “as in” in the definition of “guarantor corporation” in subsection (1), the words “section 4(1) of”;

by deleting the words “sections 243 and 244, where applicable” in the definition of “preliminary document” in subsection (1) and substituting the words “section 243”;

by deleting the words “256 or” in the definition of “prospectus” in subsection (1);

by deleting the definition of “trustee corporation” in subsection (1);

by deleting the words “(not being a prescribed corporation)” in subsection (3)(a) and (b);

by inserting, immediately after the words “lent to the corporation” in subsection (3)(b), the words “or other entity”;

by inserting, immediately after subsection (3), the following subsection:“(3A) Notwithstanding subsection (3) —

any invitation to the public by a prescribed corporation to deposit money with or to lend money to the prescribed corporation is not an offer to the public for subscription or purchase, or invitation to the public to subscribe for or purchase, debentures of the prescribed corporation; and

the following documents issued or intended or required to be issued by a prescribed corporation are not debentures:

any certificate of deposit;

any other document acknowledging or evidencing or constituting an acknowledgment of the indebtedness of the prescribed corporation in respect of any money that is or may be deposited with or lent to the prescribed corporation.”;

by deleting the words “subsection (3)” in subsection (4) and substituting the words “subsection (3A)”; and

by inserting, immediately after the words “prescribed corporation” in subsection (4)(b), the words “for the purposes of this subsection”.