Bank Act (S.C. 1991, c. 46)

Marginal note:Procedures for dealing with complaints

• 627.43 (1) An institution shall

  • (a) establish procedures that are satisfactory to the Commissioner for dealing, within the prescribed period, with complaints;

  • (b) designate one of its officers or employees in Canada to be responsible for implementing those procedures; and

  • (c) designate one or more of its officers or employees in Canada to receive and deal with those complaints.

• Marginal note:Misleading terms

  (2) An institution shall not use any misleading term with respect to its procedures or designated officers or employees, including any term that suggests that the procedures, officers or employees are independent of the institution — such as the term “ombudsman” or any other term with a similar meaning — or any prescribed term.

• Marginal note:Filing with Commissioner

  (3) An institution shall file a copy of its procedures as amended from time to time with the Commissioner.

• Marginal note:Information regarding complaint procedure

  (4) An institution shall provide a person who makes a complaint with

  • (a) a written acknowledgment of the date on which it received the complaint;

  • (b) the information referred to in paragraphs 627.65(a) to (c); and

  • (c) any information that is necessary to enable them to meet the requirements of the procedures referred to in paragraph 627.65(a).