Registered Products Regulations
Marginal note:Exception
3 (1) An institution is not required to provide the information referred to in subsection 385.131(1) of the Cooperative Credit Associations Act or subsection 434.1(1) of the Trust and Loan Companies Act if
(a) the account to be opened, or the product or service in respect of which an agreement is to be entered into, will form part of a customer’s existing registered product; and
(b) the customer has been previously advised in writing of all charges in respect of the registered product.
Marginal note:Trust and loan companies
(2) A company, as defined in section 2 of the Trust and Loan Companies Act, is not required to provide the information referred to in subsection 434.1(1) of that Act or section 4 if
(a) the account to be opened is being opened by the company solely for the purpose of acting as trustee in respect of the registered product; or
(b) the agreement to be entered into is an agreement that the company is entering into solely for the purpose of acting as trustee in respect of the registered product.
- SOR/2021-181, s. 114
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