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Bank Act

Version of section 543 from 2003-01-01 to 2007-04-19:


Marginal note:Networking

  •  (1) Subject to sections 540, 546 and 549, an authorized foreign bank may, in Canada,

    • (a) act as agent for any person in respect of the provision of any service that is provided by a financial institution, an entity in which a bank is permitted to acquire a substantial investment under section 468 or a Canadian entity acquired or held under section 522.08 and may enter into an arrangement with any person in respect of the provision of that service; or

    • (b) refer any person to that financial institution or body corporate.

  • Marginal note:Regulations

    (2) The Governor in Council may make regulations respecting the disclosure of

    • (a) the name of the principal for whom an authorized foreign bank is acting as agent pursuant to subsection (1); and

    • (b) whether any commission is being earned by an authorized foreign bank when acting as agent pursuant to subsection (1).

  • 1991, c. 46, s. 543
  • 1996, c. 6, s. 17
  • 1999, c. 28, s. 35
  • 2001, c. 9, s. 142
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