Marginal note:Disclosure by a company
504.2 (1) A company shall make available to the public such information concerning
(a) the compensation of its executives, as that expression is defined by the regulations, and
(b) its business and affairs for the purpose of the analysis of its financial condition,
in such form and manner and at such times as may be required by or pursuant to such regulations as the Governor in Council may make for the purpose.
Marginal note:Exemption by regulation
(2) Paragraph (1)(a) does not apply to a company that is within such class or classes of companies as may be prescribed.
- 1996, c. 6, s. 124.
Marginal note:Exceptions to disclosure
504.3 Subject to any regulations made under section 444, no information obtained by a company regarding any of its customers shall be disclosed or made available under subsection 504.1(1) or section 504.2.
- 1996, c. 6, s. 124.
Marginal note:Report respecting disclosure
504.4 The Superintendent shall prepare a report, to be included in the report referred to in section 40 of the Office of the Superintendent of Financial Institutions Act, respecting the disclosure of information by companies and describing the state of progress made in enhancing the disclosure of information in the financial services industry.
- 1996, c. 6, s. 124;
- 2001, c. 9, s. 558.
Inspection of Companies
Marginal note:Examination of companies
505. (1) The Superintendent, from time to time, but at least once in each calendar year, shall make or cause to be made any examination and inquiry into the business and affairs of each company that the Superintendent considers to be necessary or expedient to determine whether the company is complying with the provisions of this Act and whether the company is in a sound financial condition and, after the conclusion of each examination and inquiry, shall report on it to the Minister.
Marginal note:Access to records of company
(2) The Superintendent or a person acting under the Superintendent’s direction
(a) has a right of access to any records, cash, assets and security held by or on behalf of a company; and
(b) may require the directors, officers and auditor of a company to provide information and explanations, to the extent that they are reasonably able to do so, in respect of the condition and affairs of the company or any entity in which the company has a substantial investment.
- 1991, c. 45, s. 505;
- 2001, c. 9, s. 559;
- 2012, c. 5, s. 180.
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