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Bank Act

Version of section 211 from 2003-01-01 to 2006-04-26:

Marginal note:Reliance on statement

 A director, an officer or an employee of a bank is not liable under subsection 158(1) or (2), section 207 or 210 or subsection 506(1) if the director, officer or employee relies in good faith on

  • (a) financial statements of the bank represented to the director, officer or employee by an officer of the bank or in a written report of the auditor or auditors of the bank fairly to reflect the financial condition of the bank; or

  • (b) a report of an accountant, lawyer, notary or other professional person whose profession lends credibility to a statement made by the professional person.

  • 1991, c. 46, s. 211
  • 2001, c. 9, s. 78

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