Archived - Standard Industrial Classification - Establishments (SIC-E) 1980

K - Finance and Insurance Industries

72 - Investment Intermediary Industries

Establishments primarily engaged in investing in a portfolio of securities and other investments on behalf of their shareholders/unitholders. Included in this Major Group are establishments pri-marily engaged in financing mortgages, real estate and purchase leasebacks and holding of common and preferred stock for the purpose of exercising control.

722 - Mortgage Companies

Establishments, other than deposit accepting, primarily engaged in investing in residential mortgages. Included in this industry are establishments known as real estate investment trusts created under a provincial or federal "Declaration of Trust" as unincorporated trusts and which are primarily engaged in making loans against residential mortgages.

7221 - Mortgage Investment Companies

Establishments operating under the "Loan Companies Act" as amended by the 1973 Residential Mortgage Financing Act. These establishments are authorized to issue shares and borrow funds. They are not permitted to accept deposits, but they can issue debentures which may be insured by the Canada Deposit Insurance Corporation. Legislation requires that a pre-determined level of investment in mortgages, primarily residential mortgages, be maintained but some real estate investments (for the purpose of generating income) and equity investments are permitted. In general, the establishments can only invest funds, they cannot manage or develop any real property.

7222 - Real Estate Investment Trusts

Establishments created under a provincial or federal "Declaration of Trust" as unincorporated trusts having one class of transferable units or shares with equal voting, distribution, liquidation and other rights. The declaration of trust limits their business activities primarily to investment in mortgages, real estate equities and purchase leasebacks. The role of the trust is restricted to that of an investor and excludes them from participating as an active developer of real property. Included are establishments of affiliated financing companies whose activity is restricted to the borrowing of monies to finance the activities of the trust.

7229 - Other Mortgage Companies

Establishments investing primarily in residential mortgages either directly or through purchases of mortgages, but which operate under the Corporations Act rather than under the special Loan Companies Acts. Establishments primarily engaged in investing in residential mortgages under the Loans Companies Act are classified in 7221 - Mortgage Investment Companies and those primarily engaged in investing in commercial mortgages are classified in 7129 - Other Business Financing Companies.