Closely Held
Definition
- Schedule II banks may be closely held meaning that one party or owner can hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership.
Synonyms
handful of investors, few shareholders, ownership
Related Terms and Acronyms
- Housing-equity Partnership — Definition,
- An arrangement in which one buyer lives in a home and the other has an ownership stake as an investment. The partners split the capital gain after the property is sold.
- Joint Venture — Definition,
- A partnership between two or more parties for the purpose of purchasing, owning, and/or developing real estate for a specific purpose and duration.
- Proprietor — Definition,
- The owner of a business or property.
- Schedule I Banks — Definition,
- A designation in the Bank Act that refers to Canadian-owned banks that are widely held, i.e., ones in which no one owner holds more than 10% of shares.
- Schedule II Banks — Definition,
- A designation in the Bank Act that refers to foreign-owned banks and closely held Canadian banks, i.e., banks in which an owner may hold more than 10% of outstanding stock.
- Schedule III Banks — Definition,
- Foreign banks not incorporated under the bank act that are allowed to conduct business in Canada.
- Venture Capital (VC) — Acronym,
- Financial capital given to startup companies.
