Marginal note:Duties and functions generally

• 7. (1) The Superintendent shall engage exclusively in the duties and functions of the Superintendent under section 6 and the duties and functions of the Superintendent as the deputy head of the Office.

• Marginal note:Other duties

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

Marginal note:Agreements with provinces

• 7.1 (1) The Minister may, with the approval of the Governor in Council, enter into agreements with the appropriate authority of a province

  • (a) with respect to the administration, application and enforcement of provincial legislation in respect of trust, loan or insurance companies incorporated or regulated by or under an Act of the legislature of the province;

  • (b) in order to authorize the Superintendent to exercise or perform the powers, duties and functions on behalf of the appropriate authority of the province, that the Minister may determine, in respect of trust, loan or insurance companies incorporated or regulated by or under an Act of the legislature of the province; and

  • (c) in order to

    • (i) make applicable the Trust and Loan Companies Act, the Insurance Companies Act or this Act, or any provisions of these Acts, and the regulations made under any of these Acts, with the modifications that the Minister considers necessary, in respect of trust, loan or insurance companies that are incorporated or regulated by or under an Act of the legislature of the province, and

    • (ii) limit the application of provincial legislation in respect of trust, loan or insurance companies that are incorporated or regulated by an Act of the legislature of the province.

• Marginal note:Notice of agreement

  (2) The Minister shall cause a notice of every agreement entered into under subsection (1) to be published in the Canada Gazette.

Marginal note:Appointment of Deputy Superintendents

8. The Superintendent may appoint one or more officers each to be called a Deputy Superintendent of Financial Institutions.

Marginal note:Deputy Superintendent to act under Superintendent

9. Every Deputy Superintendent shall act under the instructions of the Superintendent.

Marginal note:Exercise by personnel

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