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