Bank Act — B-1.01 627.01
Definitions 627.01 (1) The following definitions apply in this Part. business day does not include a Saturday or a holiday. ( jour ouvrable ) charge includes interest and, for greater certainty, a fee. ( frais ) complaint means dissatisfaction, whether justified or not, expressed to an institution with respect to (a) a product or service in Canada that is offered, sold or provided by the institution; or (b) the manner in which a product or service in Canada is offered, sold or provided by the institution. ( plainte ) credit agreement includes an agreement for a line of credit, a credit card or any other kind of loan that is repayable in Canada. ( convention de crédit ) deposit-type instrument means a product that is issued in Canada by an institution, that is related to a deposit and that specifies a fixed investment period and either (a) a fixed rate of interest; or (b) a variable rate of interest that is calculated on the basis of the institution’s prime lending rate or an interest rate benchmark. ( instrument de type dépôt ) eligible enterprise means a business with authorized credit of less than $1,000,000, fewer than 500 employees and annual revenues of less than $50,000,000. ( entreprise admissible ) institution means a bank or an authorized foreign bank. ( institution ) interest , in relation to an agreement for a deposit-type instrument, a principal-protected note or a prescribed product, includes any return payable by an institution under the agreement. ( intérêt ) interest rate benchmark means a rate that is determined from time to time by reference to an assessment of one or more underlying interests, is made available to the public, either free of charge or on payment, and is used for reference for determining the interest payable, or other sums that are due, under loan agreements or other financial contracts or instruments. ( taux d’intérêt de référence ) maintenance charge means a charge in relation to a prepaid payment product that is imposed after the product has been purchased, other than a charge associated with the use of the product or of any service related to it. ( frais de tenue de compte ) member bank means a bank that is a member institution as defined in section 2 of the Canada Deposit Insurance Corporation Act . ( banque membre ) optional product or service means a product or service that is provided in Canada by an institution, an affiliate that the institution controls or an agent or representative of the institution or affiliate, for an additional charge, as a supplement to another product or service that is offered or provided by the institution. ( produit ou service optionnel ) personal authentication information means a personal identification number or any other password or information that a borrower creates or adopts to be used to authenticate their identity in relation to a credit card or credit card account. ( authentifiant personnel ) personal deposit account means a deposit account in the name of one or more natural persons that is kept by that person or those persons other than for business purposes. ( compte de dépôt personnel ) point of service means a physical location to which the public has access and at which an institution carries on business with the public through natural persons in Canada. ( point de service ) prepaid payment product means a physical or electronic product that is issued in Canada by an institution, that is or can be loaded with funds and that can be used to make withdrawals or purchase goods or services. ( produit de paiement prépayé ) principal-protected note means a financial instrument that is issued in Canada by an institution to a person and that (a) provides for one or more payments to be made by the institution that are determined, in whole or in part, by reference to an index or reference point, including (i) the market price of a security, commodity, investment fund or other financial instrument, and (ii) the exchange rate between any two currencies;