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Bank Act

Version of section 28 from 2003-01-01 to 2006-04-26:


Marginal note:Contents of letters patent

  •  (1) There shall be set out in the letters patent incorporating a bank

    • (a) the name of the bank;

    • (b) the place in Canada where the head office of the bank is to be situated; and

    • (c) the date that the bank came, or is to come, into existence.

  • Marginal note:Provisions in letters patent

    (2) The Minister may set out in the letters patent incorporating a bank any provision not contrary to this Act that the Minister considers advisable in order to take into account the particular circumstances of the proposed bank.

  • Marginal note:Terms and conditions

    (3) The Minister may impose such terms and conditions in respect of the issuance of letters patent incorporating a bank as the Minister considers necessary or appropriate.


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