Financial System Review Act (S.C. 2012, c. 5)

Assented to 2012-03-29

Marginal note:2001, c. 9, s. 214

 Section 45.2 of the Act is replaced by the following:

Marginal note:Confidentiality
  • 45.2 (1) All information regarding the affairs of a federal institution or provincial institution or of any person dealing with one that is obtained or produced by or for the Corporation is confidential and shall be treated accordingly.

  • Marginal note:Information from the Superintendent

    (2) The Corporation may, if it is satisfied that the information will be treated as confidential by the recipient and after consultation with the Superintendent, disclose any information obtained from the Superintendent regarding the affairs of a federal member institution

    • (a) to any government agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision;

    • (b) to any other agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision; or

    • (c) to any deposit insurer or any compensation association for purposes related to its operation.

 The English version of the Act is amended by replacing “his” with “their” in subsections 3(1), (2) and (4) of the schedule.

 The English version of the Act is amended by replacing “he” with “the beneficiary” in subsection 3(2) of the schedule.

 The English version of the Act is amended by replacing “his” with “his or her” in the following provisions:

  • (a) subsection 5(5);

  • (b) subsection 6(2); and

  • (c) subsection 44(2).

R.S., c. C-21; 2001, c. 9, s. 218Canadian Payments Act

Marginal note:2001, c. 9, s. 227(2)

 Paragraphs 9(3)(a) and (b) of the Canadian Payments Act are replaced by the following:

  • (a) banks, but excluding federal credit unions as defined in section 2 of the Bank Act, and authorized foreign banks;

  • (b) centrals, cooperative credit associations and federal credit unions as defined in that section;

Marginal note:2007, c. 6, s. 429(4)(F)

 Subsection 18(3) of the Act is replaced by the following:

  • Marginal note:Approval of by-laws establishing penalties

    (3) A by-law establishing a penalty shall not be submitted to the Minister for approval until it has been submitted for approval to the members and approved by them at a meeting of members.