Marginal note:Bank records
238 (1) A bank shall prepare and maintain records containing
(a) its incorporating instrument and the by-laws of the bank and all amendments thereto;
(b) minutes of meetings and resolutions of shareholders and members;
(c) the information referred to in paragraphs 632(1)(a), (c) and (e) to (h) contained in all returns provided to the Superintendent pursuant to section 632;
(d) particulars of any authorizations, conditions and limitations established by the Superintendent pursuant to section 53 or subsection 54(1) that are from time to time applicable to the bank;
(e) particulars of exceptions granted under section 39, 55 or 231 that are from time to time applicable to the bank; and
(f) particulars from Schedule I or II that are applicable to the bank as they are from time to time amended and published in the Canada Gazette.
Marginal note:Additional records
(2) In addition to the records described in subsection (1), a bank shall prepare and maintain adequate
(a) corporate accounting records;
(b) records containing minutes of meetings and resolutions of the directors and any committee thereof; and
(c) records showing, for each customer of the bank, on a daily basis, particulars of the transactions between the bank and that customer and the balance owing to or by the bank in respect of that customer and, if the bank is a federal credit union, whether the customer is a member of the federal credit union.
Marginal note:Continued banks
(3) For the purposes of paragraph (1)(b) and subsection (2),
(a) in the case of a body corporate continued as a bank under this Act, records includes similar records required by law to be maintained by the body corporate before it was so continued; and
(b) in the case of a body corporate amalgamated and continued as a bank under this Act, records includes similar records required by law to be maintained by the body corporate before it was so amalgamated.
- 1991, c. 46, s. 238
- 1997, c. 15, s. 29(E)
- 1999, c. 28, s. 16
- 2010, c. 12, s. 2007
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