Cooperative Credit Associations Act (S.C. 1991, c. 48)

Act current to 2014-04-02 and last amended on 2013-12-12. Previous Versions

Orders and Directives

Marginal note:Not statutory instruments

 An instrument issued or made under this Act and directed to a single association or person, other than an order referred to in section 423, is not a statutory instrument for the purposes of the Statutory Instruments Act.

Marginal note:Form

 The Superintendent may, by order, establish the form of any application to be made to the Minister or the Superintendent under this Act.

Applications to Superintendent

Marginal note:Content of applications
  •  (1) The following applications to the Superintendent must contain the information, material and evidence that the Superintendent may require:

    • (a) applications for approval under subsection 74(1), 80(2), 82(4), 86(5), 87(1), 177(1), 221(2), 385(1), 390(6) or (10), 393(1) or (2) or 406(1), subparagraph 411(2)(a)(iv), section 414 or subsection 418(3) or (3.1);

    • (b) applications for consent under subsection 79(1);

    • (c) applications for exemptions under subsection 166.05(3); and

    • (d) applications for extensions of time under subsection 393(3) or (5), 394(4) or 395(4).

  • Marginal note:Receipt

    (2) Without delay after receiving the application, the Superintendent shall send a receipt to the applicant certifying the date on which it was received.

  • Marginal note:Notice of decision to applicant

    (3) Subject to subsection (4), the Superintendent shall, within a period of thirty days after the receipt of the application, send to the applicant

    • (a) a notice approving the application, subject to any terms and conditions that the Superintendent considers appropriate; or

    • (b) if the Superintendent is not satisfied that it should be approved, a notice to that effect.

  • Marginal note:Extension of period

    (4) If the Superintendent is unable to complete the consideration of the application within the period referred to in subsection (3), the Superintendent shall, within that period, send a notice to the applicant informing the applicant that the Superintendent has extended the period for a further period set out in the notice.

  • Marginal note:Deemed approval

    (5) If the applicant does not receive the notice required by subsection (3) and, where applicable, subsection (4), within the required period, the Superintendent is deemed to have approved the application and granted the approval, consent, extension or exemption to which the application relates, regardless of whether the approval, consent, extension or exemption is to be in writing or not.

  • 2001, c. 9, s. 338;
  • 2007, c. 6, s. 183.

Applications for Certain Approvals

Marginal note:Application for certain approvals
  •  (1) An application for the prior written approval of the Minister in respect of paragraph 376(1)(g) or (h) or 390(5)(b.1), (c), (d) or (d.1) must be filed with the Superintendent and contain the information, material and evidence that the Superintendent may require.

  • Marginal note:Certification of receipt of application

    (2) If, in the opinion of the Superintendent, the application contains all the required information, the Superintendent must refer it to the Minister, together with his or her analysis in relation to the application, and send a receipt to the applicant certifying the date on which the application was referred to the Minister.

  • Marginal note:Incomplete application

    (3) If, in the opinion of the Superintendent, the application is incomplete, the Superintendent must send a notice to the applicant specifying the information required by the Superintendent to complete it.

  • Marginal note:Notice of decision

    (4) Subject to subsection (5), the Minister must, within 30 days after the certified date referred to in subsection (2), send to the applicant

    • (a) a notice approving the application; or

    • (b) if the Minister is not satisfied that the application should be approved, a notice to that effect.

  • Marginal note:Extension of period

    (5) If the Minister is unable to complete the consideration of an application within the 30-day period, the Minister must, within that period, send a notice to the applicant informing the applicant that the Minister has extended the period for a further period set out in the notice.

  • Marginal note:Deemed approval

    (6) If the Minister does not send the notice referred to in subsection (4) or, if applicable, subsection (5), within the required period, the Minister is deemed to have approved the application.

  • 2007, c. 6, s. 184;
  • 2012, c. 5, s. 121.