Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 318 from 2012-12-19 to 2024-05-28:

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 Superintendent or by the shareholders or, if the bank is a federal credit union, by the members.

  • 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.

  • 1991, c. 46, s. 318
  • 2010, c. 12, s. 2025

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