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

4.1 [Repealed, 2018, c. 27, s. 340]

Powers, Duties and Functions of Commissioner

Marginal note:Powers, duties and functions of the Commissioner

• 5 (1) The Commissioner has the powers, duties and functions assigned to the Commissioner by this Act and by the Acts listed in Schedule 1 and shall examine and inquire into, and report to the Minister from time to time on, all matters connected with the administration of this Act and of the consumer provisions of those other Acts.

• Marginal note:Functions — Payment Card Networks Act

  (1.1) The Commissioner shall also examine and inquire into, and report to the Minister from time to time on, all matters connected with the administration of the Payment Card Networks Act and its regulations.

• Marginal note:Personal information

  (2) The Commissioner may collect any personal information that he or she considers necessary in furtherance of the objects described in subsection 3(2).

• Marginal note:Personal information

  (2.1) The Commissioner may also collect any personal information that he or she considers necessary in furtherance of the objects described in subsection 3(3).

• Marginal note:Review re voluntary codes of conduct

  (3) The Commissioner, if a financial institution has adopted a voluntary code of conduct referred to in paragraph 3(2)(c) or made a commitment designed to protect the interests of its customers, may make or cause to be made any review that he or she considers necessary to monitor compliance with the code or the commitment, as the case may be.

• Marginal note:Review

  (3.1) If a payment card network operator has adopted a voluntary code of conduct or made a public commitment referred to in paragraph 3(3)(c), the Commissioner may make or cause to be made any review that he or she considers necessary to monitor compliance with the code or the commitment, as the case may be.

• Marginal note:Respect for other monitors

  (4) When acting under subsection (3), the Commissioner shall have due regard for the role of any department, agency or agent corporation of the Government of Canada or of a province or any organization that has a role in monitoring compliance by financial institutions with voluntary codes of conduct or commitments.

• Marginal note:Activities

  (5) The Commissioner may carry on any activity that he or she considers necessary in furtherance of the objects described in subsection 3(2).

• Marginal note:Activities

  (6) The Commissioner may also carry on any activity that he or she considers necessary in furtherance of the objects described in subsection 3(3).

Marginal note:Business plan

• 5.01 (1) At least 30 days before the end of each fiscal year, the Commissioner shall submit a business plan to the Minister for approval.

• Marginal note:Content of business plan

  (2) The business plan shall include a statement, for at least the following financial year, of the Agency’s objectives, the strategies that it intends to use to achieve those objectives and its operating and capital budgets.

Marginal note:Minister’s direction

• 5.1 (1) The Minister may give a written direction to the Agency if the Minister is of the opinion that it can strengthen consumer protection and the public’s confidence in that protection, foster safe and secure consumer-driven banking or enhance the financial literacy of Canadians.

• Marginal note:Notification of implementation

  (2) After implementing the direction, the Commissioner shall notify the Minister without delay that the direction has been implemented.

• Marginal note:Best interests

  (3) Compliance by the Agency with a direction is deemed to be in its best interests.

• Marginal note:Statutory Instruments Act

  (4) The Statutory Instruments Act does not apply to a direction given under subsection (1).

• Marginal note:Publication

  (5) The Minister shall cause a notice to be published in the Canada Gazette that a direction was given under subsection (1) as soon as is feasible after the direction is implemented.

Marginal note:Duties and functions generally

• 6 (1) The Commissioner shall engage exclusively in the duties and functions of the Commissioner under section 5 and as deputy head of the Agency.

• Marginal note:Other duties

  (2) Despite subsection (1), the Commissioner may hold any other office under Her Majesty or perform any other duties for Her Majesty, but not for reward.

6.1 [Repealed, 2018, c. 27, s. 343]

Agreements

Marginal note:Agreements

7 The Agency, in order to carry out its objects, may enter into an agreement or arrangement with a department or agency of the Government of Canada or of a province or with any other person or body in the name of Her Majesty in right of Canada or in its own name. An agreement or arrangement with a department or agency of a province must be made with the approval of the Governor in Council.

Marginal note:Agreements — payment card network operators

7.1 In order to carry out the objects described in paragraph 3(3)(c), the Agency, in the name of Her Majesty in right of Canada or in its own name, may enter into an agreement with a payment card network operator, including an agreement respecting the provision of information or the payment of fees.

Senior Deputy Commissioner

Marginal note:Appointment

• 7.2 (1) The Commissioner must, with the Minister’s concurrence, appoint an officer to be called the Senior Deputy Commissioner for Consumer-Driven Banking who is to act under the instructions of the Commissioner and who is responsible for consumer-driven banking matters.

• Marginal note:Absence or incapacity

  (2) In the event of the absence or incapacity of the Senior Deputy Commissioner, or if the office of Senior Deputy Commissioner is vacant, the Commissioner may appoint a qualified person to exercise the powers and perform the duties and functions of the Senior Deputy Commissioner for a term of 90 days that may not be extended without the Minister’s approval.

Marginal note:Role

• 7.3 (1) Subject to the supervision referred to in paragraph 4(2)(a.1) of the Office of the Superintendent of Financial Institutions Act, the Senior Deputy Commissioner is responsible for the supervision of consumer-driven banking.

• Marginal note:Powers, duties and functions

  (2) The Senior Deputy Commissioner may exercise the powers, and must perform the duties and functions, that relate to consumer-driven banking and that are conferred on them under this Act or any other Act of Parliament.

• Marginal note:Personal information

  (3) The Senior Deputy Commissioner may collect any personal information that the Senior Deputy Commissioner considers necessary in furtherance of the objects described in subsection 3(4).

Marginal note:Publication of information

7.4 The Senior Deputy Commissioner must publish, in the prescribed time and manner, the prescribed information respecting consumer-driven banking.

Deputy Commissioners

Marginal note:Appointment of Deputy Commissioner

8 The Commissioner may appoint one or more officers each to be called a Deputy Commissioner of the Financial Consumer Agency of Canada who shall act under the instructions of the Commissioner.

Exercise of Powers, Duties and Functions

Marginal note:Exercise by personnel

9 Except as otherwise provided by the Commissioner and subject to any terms and conditions that may be specified by the Commissioner, a person who is an officer or employee of the Agency may exercise any of the powers and perform any of the duties and functions of the Commissioner under this Act if the person is appointed to serve in the Agency in a capacity appropriate to the exercise of the power or performance of the duty or function.

Marginal note:Exercise by personnel — Senior Deputy Commissioner

9.1 Except as otherwise provided by the Senior Deputy Commissioner and subject to any terms and conditions that they may specify, a person who is an employee of the Agency — other than a Deputy Commissioner — may exercise any of the powers and perform any of the duties and functions of the Senior Deputy Commissioner under this Act if the person is appointed to serve in the Agency in a capacity appropriate to the exercise of the power or performance of the duty or function.

Staff of Agency

Marginal note:Employees

10 The employees that are necessary to enable the Commissioner and the Senior Deputy Commissioner to perform their duties are to be appointed in accordance with the Public Service Employment Act.

Marginal note:Responsibility for human resources management

• 11 (1) In respect of persons appointed under sections 7.2, 8 and 10, the Commissioner is authorized to exercise the powers and perform the functions of the Treasury Board that relate to human resources management within the meaning of paragraphs 7(1)(b) and (e) and section 11.1 of the Financial Administration Act, and those of deputy heads under subsection 12(2) of that Act, as that subsection reads without regard to any terms and conditions that the Governor in Council may direct, including the determination of terms and conditions of employment and the responsibility for employer and employee relations.

• Marginal note:Delegation of powers

  (2) The Commissioner may authorize any person employed in the federal public administration to exercise and perform, in any manner and subject to any terms and conditions that the Commissioner directs, any of the powers and functions of the Commissioner in relation to human resources management in the public service and may, from time to time as the Commissioner sees fit, revise or rescind and reinstate the authority so granted.

• Marginal note:Sub-delegation of such powers

  (3) Any person authorized under subsection (2) to exercise and perform any of the powers and functions of the Commissioner may, subject to and in accordance with the authorization, authorize one or more persons under their jurisdiction or any other person to exercise or perform any such power or function.

Marginal note:Official Languages Act

12 For greater certainty, the Official Languages Act applies to the Agency.

Advisory and Other Committees

Marginal note:Advisory and other committees

• 12.1 (1) The Commissioner may, on the advice of the Senior Deputy Commissioner, establish advisory and other committees to advise or assist the Senior Deputy Commissioner on matters relating to consumer-driven banking and provide for their membership, duties, functions and operation.

• Marginal note:Remuneration and expenses

  (2) Members of a committee may be paid for their services the remuneration and expenses that the Commissioner may determine, in accordance with any applicable Treasury Board directives.

Appropriation

Marginal note:Expenditures out of C.R.F.

• 13 (1) Subject to subsection (2), the Minister may, in any fiscal year on terms and conditions — including the rate of interest, if any — that are determined by the Minister, advance amounts out of the Consolidated Revenue Fund to the Agency to permit it to defray its costs of operation.

• Marginal note:Spending authority

  (2) In carrying out its responsibilities, the Agency may spend assessments and other revenues received through the conduct of its operations in the fiscal year in which they are received or, unless an appropriation Act provides otherwise, in the next fiscal year. The amount of those assessments or other revenues shall be paid out of the Consolidated Revenue Fund.

• Marginal note:Payment for activity

  (3) If the Agency carries on any activity in furtherance of an object described in paragraph 3(2)(d) or (e) or subsection 3(4) on the Minister’s recommendation, the Minister may on terms and conditions approved by the Treasury Board, in any fiscal year, make a payment out of the Consolidated Revenue Fund to the Agency for the purposes of the activity.

Conflict of Interest

Marginal note:Ownership

• 14 (1) The Commissioner, a person appointed under subsection 4(4), the Senior Deputy Commissioner, a person appointed under subsection 7.2(2) or a Deputy Commissioner must not hold, directly or indirectly, any interest or right in any shares of any financial institution, any bank holding company, any insurance holding company, the external complaints body or any other body corporate, however created, carrying on any business in Canada that is substantially similar to any business carried on by any financial institution or the external complaints body.

• Marginal note:Prohibitions — federal credit union

  (2) The Commissioner, a person appointed under subsection 4(4), the Senior Deputy Commissioner, a person appointed under subsection 7.2(2) or a Deputy Commissioner must not

  • (a) directly or indirectly hold any interest or right in membership shares of a federal credit union, within the meaning of section 2 of the Bank Act, in excess of the minimum number of membership shares of the federal credit union that is required for membership; or

  • (b) exercise any right he or she has as a member of such a federal credit union, except any right that he or she has as a customer of the federal credit union.