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Bank Act

Version of section 798 from 2003-01-01 to 2006-04-26:


Marginal note:Reliance on statement

 A director, an officer or an employee of a bank holding company is not liable under subsection 748(1) or (2) or section 794 or 797 if the director, officer or employee relies in good faith on

  • (a) financial statements of the bank holding company represented to the director, officer or employee by an officer of the bank holding company or in a written report of the auditor of the bank holding company fairly to reflect the financial condition of the bank holding company; or

  • (b) a report of an accountant, lawyer, notary or other professional person whose profession lends credibility to a statement made by the professional person.

  • 2001, c. 9, s. 183

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