Bank Act (S.C. 1991, c. 46)

Act current to 2014-09-29 and last amended on 2014-06-19. Previous Versions

Marginal note:Publication

 The Superintendent must publish in the Canada Gazette a notice of every approval granted for the purpose of section 522.21 or 522.211 and of every revocation of any such approval.

  • 2001, c. 9, s. 132;
  • 2007, c. 6, s. 71.
Marginal note:Obligation to provide information

 A foreign bank or entity associated with a foreign bank shall, at the times and in the form specified by the Superintendent, provide the Superintendent with the information that he or she may require.

  • 2001, c. 9, s. 132;
  • 2007, c. 6, s. 71.

Division 7[Repealed, 2007, c. 6, s. 72]

 [Repealed, 2007, c. 6, s. 72]

Division 8Transitional

Marginal note:Definitions
  •  (1) The following definitions apply in this Division.

    “affected entity”

    « entité visée »

    “affected entity” means

    • (a) an entity associated with a foreign bank that is an affected foreign bank and that has a financial establishment in Canada; or

    • (b) a prescribed entity associated with a foreign bank referred to in paragraph (c) of the definition “affected foreign bank”.

    “affected foreign bank”

    « banque étrangère visée »

    “affected foreign bank” means a foreign bank that

    • (a) immediately before the day this Division comes into force, was the subject of an order made under subsection 524(1) or former subsection 521(1.06) and whose order has not been revoked; or

    • (b) on or before June 13, 2000, controlled a foreign bank subsidiary as defined in former section 2.

    • (c[Repealed, 2007, c. 6, s. 73]

  • Marginal note:Former provision

    (2) Every reference in this Division to a former provision means a reference to that provision as it read immediately before the day this Division comes into force.

  • 2001, c. 9, s. 132;
  • 2007, c. 6, s. 73.
Marginal note:Former s. 507(4)
  •  (1) Every order made under former subsection 507(4) exempting an entity from the status of being associated with a foreign bank or exempting a Canadian entity from being a “non-bank affiliate of a foreign bank” that is in force on the day this Division comes in force continues in force, subject to any further order that the Minister may make varying or revoking it.

  • Marginal note:Date order takes effect

    (2) A revocation order or variation order takes effect three months after the date it is made unless the Minister and the entity to which it relates agree that the order is to take effect at another time.

  • Marginal note:Publication

    (3) The Minister shall publish in the Canada Gazette a notice of every revocation order.

  • 2001, c. 9, s. 132.