Financial Innovation Regulation

(no amdt) alberta regulation 109/2022 Financial Innovation Act FINANCIAL INNOVATION REGULATION Table of Contents 1 Interpretation 2 Physical presence in Alberta 3 Application fee 4 Expiry 5 Coming into force Interpretation 1 In this Regulation, (a) “Act” means the Financial Innovation Act ; (b) “senior officer” means, with reference to an entity, (i) the president, vice-president, secretary, comptroller, treasurer or general manager of the entity, or (ii) any other person who performs functions for the entity similar to those normally performed by persons holding the offices referred to in subclause (i). Physical presence in Alberta 2 For the purposes of section 4(1)(a) of the Act, an entity has a physical presence in Alberta if the entity or a corporate partner of the entity has (a) an office physically located in Alberta, or (b) at least one senior officer who is resident in Alberta for the purposes of the Alberta Personal Income Tax Act . Application fee 3 For the purposes of section 4(2) of the Act, the application fee is $5000. Expiry 4 For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on June 30, 2027. Coming into force 5 This Regulation comes into force on the coming into force of the Financial Innovation Act .