Disclosure of Charges (Banks) Regulations

Version of section 6 from 2006-03-22 to 2009-02-11:


 Where a bank increases a charge applicable to a service referred to in subsection 5(1), the bank shall disclose the increase

  • (a) with respect to customers to whom a statement of account is provided,

    • (i) by means of a notice in writing provided to the customer at least 30 days before the effective date of the increase, or

    • (ii) where the customer has instructed the bank in writing to provide such a notice to another person, by means of a notice in writing provided to that other person at least 30 days before the effective date of the increase; and

  • (b) with respect to customers to whom a statement of account is not provided, by means of a notice that is displayed for a period of at least 60 days immediately before the effective date of the increase at all branches of the bank.

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