Bank Act — B-1.01 983
Canada, or any part of that business in Canada, including any of its products or services or the means by which any of those products or services may be obtained, is guilty of an offence. Unauthorized use of name or identifying mark of bank or foreign bank (2.2) Subject to the regulations and subsections (4), (5), (5.2), (5.3) and (10) to (12), every person who uses the name or any identifying mark of a bank or a foreign bank to indicate or describe a business in Canada or any part of a business in Canada, without being authorized to do so by this Act or any other Act of Parliament, is guilty of an offence. Unauthorized statements regarding association with a bank, etc. (2.3) Subject to the regulations and subsections (4), (5.2) and (12), every person is guilty of an offence who, without being authorized to do so by this Act or any other Act of Parliament, makes any statement that a business is connected, associated or affiliated with a bank or a foreign bank. Unauthorized use of name or identifying mark of a bank holding company (3) Subject to the regulations and subsections (7) to (9.1) and (12), every entity that acquires, adopts or retains the name of a bank holding company and every person who uses the name or any identifying mark of a bank holding company to indicate or describe a business in Canada or any part of a business in Canada, without being authorized to do so by this Act or any other Act of Parliament, is guilty of an offence. Permitted use (4) No person commits an offence under any of subsections (2) to (2.3) if the activity referred to in that subsection is done (a) in a description of the corporate relationship between a bank and an entity controlled by the bank; (b) subject to the regulations, in a description of a corporate relationship between a bank and an entity affiliated with the bank; (b.1) in a description of the corporate relationship between a bank holding company and an entity controlled by the bank holding company; (b.2) and (b.3) [Repealed, 2007, c. 6, s. 129] (c) in an advertisement in Canada by or on behalf of a foreign bank in respect of its facilities outside Canada; (d) in the identification of representative offices of a foreign bank in Canada; (e) in relation to the business in Canada of an authorized foreign bank; (f) in a description of the corporate relationship between a bank or a bank holding company and a foreign bank that controls the bank or the bank holding company; (f.1) in a description of the corporate relationship between a bank or a bank holding company and an entity that is associated with a foreign bank and that controls the bank or the bank holding company; (g) subject to the regulations, in a description of the corporate relationship between a non-bank affiliate of a foreign bank, within the meaning of subsection 507(1), and a foreign bank that controls the non-bank affiliate, if the non-bank affiliate is not a bank holding company or an entity that is controlled by a bank holding company; (h) subject to the regulations, in a description of the corporate relationship between a non-bank affiliate of a foreign bank, within the meaning of subsection 507(1), and an entity that is associated with a foreign bank that controls the non-bank affiliate, if (i) the non-bank affiliate is not a bank holding company or an entity that is controlled by a bank holding company, and (ii) the entity is not a bank, a bank holding company, a foreign bank or an entity controlled by a bank or a bank holding company; (i) in the identification of a body corporate that was a non-bank affiliate of a foreign bank within the meaning of subsection 303(1) of the Bank Act , being chapter B-1 of the Revised Statutes of Canada, 1985, at any time before June 1, 1981; (j) in the identification of a Canadian financial institution that (i) was controlled by a bank that was a subsidiary of a foreign bank before June 15, 1997 but that has ceased to be so controlled, (ii) is controlled by a foreign bank that, b