Bank Act (S.C. 1991, c. 46)

Act current to 2014-08-05 and last amended on 2014-06-19. Previous Versions

Marginal note:Affiliated bank holding company

 Despite section 693 and subject to section 695, a bank holding company that is affiliated with another entity may, with the consent of that entity,

  • (a) be incorporated with, or change its name to, substantially the same name as that of the affiliated entity; or

  • (b) subject to any terms and conditions that may be prescribed, carry on business under or identify itself by a name, other than its corporate name, that is substantially the same as the corporate name of the affiliated entity or that is another name under which or with which the affiliated entity carries on business or otherwise identifies itself.

  • 2001, c. 9, s. 183;
  • 2007, c. 6, s. 109.
Marginal note:Restriction

 A bank holding company may not be incorporated or continued with, change its name to or carry on business or identify itself by, a name that is substantially similar to that of a bank unless the name contains words that, in the opinion of the Superintendent, indicate to the public that the bank holding company is distinct from any bank that is a subsidiary of the bank holding company.

  • 2001, c. 9, s. 183.
Marginal note:French or English form of name
  •  (1) The name of a bank holding company may be set out in its letters patent in an English form, a French form, an English form and a French form or in a combined English and French form, and the bank holding company may use and be legally designated by any such form.

  • Marginal note:Mandatory abbreviation

    (2) Despite any other provision of this Act and subject to the regulations, every bank holding company shall have as part of its name, the abbreviations “bhc” or “spb”.

  • Marginal note:Alternate name

    (3) A bank holding company may identify itself outside Canada by its name in any language and the bank holding company may use and be legally designated by any such form of its name outside Canada.

  • Marginal note:Other name

    (4) Subject to subsection (5) and section 832, a bank holding company may carry on business under or identify itself by a name other than its corporate name.

  • Marginal note:Directions

    (5) Where a bank holding company is carrying on business under or identifying itself by a name other than its corporate name, the Superintendent may, by order, direct the bank holding company not to use that other name if the Superintendent is of the opinion that that other name is a name referred to in any of paragraphs 693(a) to (e).

  • Marginal note:Regulations

    (6) The Governor in Council may make regulations respecting the use of the abbreviations “bhc” or “spb” in the name of bank holding companies.

  • 2001, c. 9, s. 183.