2109. A Dealer Member’s ownership of another Dealer Member

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    1. A Dealer Member or its holding company must obtain approval from the applicable District Council before purchasing, directly or indirectly, any securities of another Dealer Member or its holding company. However, this does not apply if the ownership is a trading position held in the ordinary course of the securities business.
    2. A District Council may delegate its authority under this section to a subcommittee of the District Council or to IIROC staff.

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