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Bank Act

Version of section 459.3 from 2003-01-01 to 2012-05-23:


Marginal note:Public accountability statements

  •  (1) A bank with equity of one billion dollars or more shall, in accordance with regulations made under subsection (4), annually publish a statement describing the contribution of the bank and its prescribed affiliates to the Canadian economy and society.

  • Marginal note:Filing

    (2) A bank shall, in the manner and at the time prescribed, file a copy of the statement with the Commissioner.

  • Marginal note:Provision of statement to public

    (3) A bank shall, in the manner and at the time prescribed, disclose the statement to its customers and to the public.

  • Marginal note:Regulations

    (4) The Governor in Council may make regulations prescribing

    • (a) the name, contents and form of the statement referred to in subsection (1) and the time within which it must be prepared;

    • (b) affiliates of a bank referred to in subsection (1);

    • (c) the manner and time in which a statement must be filed under subsection (2); and

    • (d) the manner and time in which a statement mentioned in subsection (3) is to be disclosed, respectively, to a bank’s customers and to the public.

  • 2001, c. 9, s. 125

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