Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 318 from 2003-01-01 to 2012-12-18:

Marginal note:Ceasing to hold office

  •  (1) An auditor of a bank ceases to hold office when

    • (a) the auditor resigns; or

    • (b) the appointment of the auditor is revoked by the shareholders or the Superintendent.

  • Marginal note:Effective date of resignation

    (2) The resignation of an auditor becomes effective at the time a written resignation is sent to the bank or at the time specified in the resignation, whichever is later.

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