Marginal note:Conditions of order
53 (1) An order approving the commencement and carrying on of business by a bank may contain such conditions or limitations that are consistent with this Act and relate to the business of the bank as the Superintendent deems expedient and necessary.
Marginal note:Deemed condition
(2) An order approving the commencement and carrying on of business by a federal credit union is deemed to contain a condition that the federal credit union must, on an ongoing basis, be organized and carry on business on a cooperative basis in accordance with section 12.1.
- 1991, c. 46, s. 53
- 2010, c. 12, s. 1927
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