Bank Act

Marginal note:Examination of banks

• 659 (1) The Commissioner, from time to time but at least once in each calendar year, shall make or cause to be made any examination and inquiry that the Commissioner considers necessary for the purposes of satisfying the Commissioner that the applicable consumer provisions are being complied with and, after the conclusion of each examination and inquiry, shall report on it to the Minister.

• Marginal note:Access to records of bank

  (2) The Commissioner or a person acting under the Commissioner’s direction in carrying out his or her duties under subsection (1)

  • (a) has a right of access to any records, including electronic records, of a bank, authorized foreign bank or external complaints body; and

  • (b) may require the directors or officers of a bank, authorized foreign bank or external complaints body to provide information and explanations, to the extent that they are reasonably able to do so, in respect of any matter subject to examination or inquiry under subsection (1).