Closely Held

Importance: 0.43

Is a company: no

Is a proper noun: no

Synonyms

  • few shareholders
  • handful of investors
  • ownership

Definition of Closely Held

  1. 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.

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.
  • 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.
  • 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.
  • Venture Capital (VC) Acronym,
    • Financial capital given to startup companies.
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