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Financial Consumer Agency of Canada Act (S.C. 2001, c. 9)

Assented to 2001-06-14

569. Section 531 of the Act is amended by adding the following after paragraph (f):

  • (f.1) respecting, for any purpose of any provision of the Act, the determination of the equity of a company;

570. The Act is amended by adding the following after section 535:

Marginal note:Limitation period

  • 535.1 (1) Proceedings by way of summary conviction in respect of an offence under a provision of this Act may be commenced at any time within, but not later than, two years after the day on which the subject-matter of the proceedings became known, in the case of an offence under a consumer provision, to the Commissioner and, in any other case, to the Superintendent.

  • Marginal note:Certificate of Superintendent or Commissioner

    (2) A document appearing to have been issued by the Superintendent or Commissioner, as the case may be, certifying the day on which the subject-matter of any proceedings became known to the Superintendent or Commissioner is admissible in evidence without proof of the signature or official character of the person appearing to have signed it and is, in the absence of evidence to the contrary, proof of the matter asserted in it.

571. Section 537 of the Act is replaced by the following:

Marginal note:Restraining or compliance order

  • 537. (1) If a company or any director, officer, employee or agent of a company does not comply with any provision of this Act or the regulations other than a consumer provision, or of the incorporating instrument or any by-law of the company, the Superintendent, any complainant or any creditor of the company may, in addition to any other right that person has, apply to a court for an order directing the company, director, officer, employee or agent to comply with — or restraining the company, director, officer, employee or agent from acting in breach of — the provision and, on the application, the court may so order and make any further order it thinks fit.

  • Marginal note:Compliance or restraining order — consumer provisions

    (2) If a company or any director, officer, employee or agent of a company does not comply with any applicable consumer provision, the Commissioner or any complainant may, in addition to any other right that person has, apply to a court for an order directing the company, director, officer, employee or agent to comply with — or restraining the company, director, officer, employee or agent from acting in breach of — the consumer provision and, on the application, the court may so order and make any further order it thinks fit.

AMENDMENTS TO OTHER ACTS

Marginal note:R.S., c. B-3

Bankruptcy and Insolvency Act

Marginal note:1992, c. 27, s. 3(2)

  • 572. (1) Paragraph (b) of the definition “bank” in subsection 2(1) of the Bankruptcy and Insolvency Act is replaced by the following:

    • (b) every other member of the Canadian Payments Association established by the Canadian Payments Act, and

  • (2) Subsection 2(1) of the Act is amended by adding the following in alphabetical order:

    “Superintendent of Financial Institutions”

    « surintendant des institutions financières »

    “Superintendent of Financial Institutions” means the Superintendent of Financial Institutions appointed under subsection 5(1) of the Office of the Superintendent of Financial Institutions Act;