GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Financial Consumer Agency of Canada Act — F-11.1 (a)
financial institution means (a) a bank as defined in section 2 of the Bank Act ; (b) an authorized foreign bank as defined in section 2 of the Bank Act ; (c) a company to which the Trust and Loan Companies Act applies; (d) a retail association as defined in section 2 of the Cooperative Credit Associations Act ; (e) a company or foreign company to which the Insurance Companies Act applies; and (f) Green Shield Canada. ( institution financière )
Financial Consumer Agency of Canada Act — F-11.1
Financial Literacy Leader [Repealed, 2018, c. 27, s. 336]
Financial Consumer Agency of Canada Act — F-11.1 (a)
governing statute means (a) in relation to a bank or authorized foreign bank as defined in the Bank Act , that Act; (b) in relation to a retail association to which the Cooperative Credit Associations Act applies, that Act; (c) in relation to a company or foreign company to which the Insurance Companies Act applies, that Act; (d) in relation to a company to which the Trust and Loan Companies Act applies, that Act; and (e) in relation to Green Shield Canada, the Green Shield Canada Act . ( loi d’application )
Financial Consumer Agency of Canada Act — F-11.1
insurance holding company means an insurance holding company as defined in subsection 2(1) of the Insurance Companies Act . ( société de portefeuille d’assurances )
Financial Consumer Agency of Canada Act — F-11.1
Minister means the Minister of Finance. ( ministre )
Financial Consumer Agency of Canada Act — F-11.1
participating entity [Repealed, 2026, c. 3, s. 226]
Financial Consumer Agency of Canada Act — F-11.1
payment card network operator means an entity, as defined in section 3 of the Payment Card Networks Act , that operates or manages a payment card network, as defined in that section, including by establishing standards and procedures for the acceptance, transmission or processing of payment transactions and by facilitating the electronic transfer of information and funds. ( exploitant de réseau de cartes de paiement )
Financial Consumer Agency of Canada Act — F-11.1
penalty means an administrative monetary penalty. ( pénalité )
Financial Consumer Agency of Canada Act — F-11.1
prescribed means prescribed by regulation. ( Version anglaise seulement )
Financial Consumer Agency of Canada Act — F-11.1
Senior Deputy Commissioner [Repealed, 2026, c. 3, s. 226]
Financial Consumer Agency of Canada Act — F-11.1
technical standards body [Repealed, 2026, c. 3, s. 226]
Financial Consumer Agency of Canada Act — F-11.1 2.1
Supervision and protection 2.1 The purpose of this Act is to ensure that financial institutions, the external complaints body and payment card network operators are supervised by an agency of the Government of Canada so as to contribute to the protection of consumers of financial products and services and the public, including by strengthening the financial literacy of Canadians. 2018, c. 27, s. 337 2023, c. 26, s. 140 2024, c. 17, s. 200 2026, c. 3, s. 227
Financial Consumer Agency of Canada Act — F-11.1 4
Appointment of Commissioner 4 (1) The Governor in Council shall appoint an officer to be called the Commissioner of the Financial Consumer Agency of Canada. The Commissioner has the rank and all the powers of a deputy head of a department. Tenure of office and removal (2) The Commissioner holds office during good behaviour for a term of not more than five years, but may be removed for cause by the Governor in Council. Further terms (3) The Commissioner, on the expiration of any term of office, is eligible to be re-appointed for a further term of office. Absence or incapacity (4) In the event of the absence or incapacity of the Commissioner, or if the office of Commissioner is vacant, the Minister may appoint a qualified person to exercise the powers and perform the duties and functions of the Commissioner, but no person may be so appointed for a term of more than 90 days without the approval of the Governor in Council. Remuneration (5) The Commissioner shall be paid the remuneration fixed by the Governor in Council. Expenses (6) The Commissioner and any person appointed under subsection (4) are entitled to be paid reasonable travel and living expenses incurred in the course of performing their duties while absent from their ordinary place of work. Deemed employment (7) The Commissioner and any person appointed under subsection (4) are deemed to be employed in the public service for the purposes of the Public Service Superannuation Act and to be employed in the federal public administration for the purposes of the Government Employees Compensation Act and any regulations made under section 9 of the Aeronautics Act . 2001, c. 9, s. 4; 2003, c. 22, s. 169(E)
Financial Consumer Agency of Canada Act — F-11.1 5
Powers, duties and functions of the Commissioner 5 (1) The Commissioner has the powers, duties and functions assigned to the Commissioner by this Act and by the Acts listed in Schedule 1 and shall examine and inquire into, and report to the Minister from time to time on, all matters connected with the administration of this Act and of the consumer provisions of those other Acts. Functions — Payment Card Networks Act (1.1) The Commissioner shall also examine and inquire into, and report to the Minister from time to time on, all matters connected with the administration of the Payment Card Networks Act and its regulations. Personal information (2) The Commissioner may collect any personal information that he or she considers necessary in furtherance of the objects described in subsection 3(2). Personal information (2.1) The Commissioner may also collect any personal information that he or she considers necessary in furtherance of the objects described in subsection 3(3). Review re voluntary codes of conduct (3) The Commissioner, if a financial institution has adopted a voluntary code of conduct referred to in paragraph 3(2)(c) or made a commitment designed to protect the interests of its customers, may make or cause to be made any review that he or she considers necessary to monitor compliance with the code or the commitment, as the case may be. Review (3.1) If a payment card network operator has adopted a voluntary code of conduct or made a public commitment referred to in paragraph 3(3)(c), the Commissioner may make or cause to be made any review that he or she considers necessary to monitor compliance with the code or the commitment, as the case may be. Respect for other monitors (4) When acting under subsection (3), the Commissioner shall have due regard for the role of any department, agency or agent corporation of the Government of Canada or of a province or any organization that has a role in monitoring compliance by financial institutions with voluntary codes of conduct or commitments. Activities (5) The Commissioner may carry on any activity that he or she considers necessary in furtherance of the objects described in subsection 3(2). Activities (6) The Commissioner may also carry on any activity that he or she considers necessary in furtherance of the objects described in subsection 3(3). 2001, c. 9, s. 5; 2010, c. 12, ss. 1837, 1852
Financial Consumer Agency of Canada Act — F-11.1 5.01
Business plan 5.01 (1) At least 30 days before the end of each fiscal year, the Commissioner shall submit a business plan to the Minister for approval. Content of business plan (2) The business plan shall include a statement, for at least the following financial year, of the Agency’s objectives, the strategies that it intends to use to achieve those objectives and its operating and capital budgets. 2013, c. 1, s. 7 2018, c. 27, s. 342
Financial Consumer Agency of Canada Act — F-11.1 5.1
Minister’s direction 5.1 (1) The Minister may give a written direction to the Agency if the Minister is of the opinion that it can strengthen consumer protection and the public’s confidence in that protection or enhance the financial literacy of Canadians. Notification of implementation (2) After implementing the direction, the Commissioner shall notify the Minister without delay that the direction has been implemented. Best interests (3) Compliance by the Agency with a direction is deemed to be in its best interests. Statutory Instruments Act (4) The Statutory Instruments Act does not apply to a direction given under subsection (1). Publication (5) The Minister shall cause a notice to be published in the Canada Gazette that a direction was given under subsection (1) as soon as is feasible after the direction is implemented. 2010, c. 12, s. 1853; 2013, c. 1, s. 8 2024, c. 17, s. 202 2026, c. 3, s. 229
Financial Consumer Agency of Canada Act — F-11.1 6
Duties and functions generally 6 (1) The Commissioner shall engage exclusively in the duties and functions of the Commissioner under section 5 and as deputy head of the Agency. Other duties (2) Despite subsection (1), the Commissioner may hold any other office under Her Majesty or perform any other duties for Her Majesty, but not for reward. 2001, c. 9, s. 6; 2013, c. 1, s. 9(F)
Financial Consumer Agency of Canada Act — F-11.1 7
Agreements 7 The Agency, in order to carry out its objects, may enter into an agreement or arrangement with a department or agency of the Government of Canada or of a province or with any other person or body in the name of Her Majesty in right of Canada or in its own name. An agreement or arrangement with a department or agency of a province must be made with the approval of the Governor in Council.
Financial Consumer Agency of Canada Act — F-11.1 7.1
Agreements — payment card network operators 7.1 In order to carry out the objects described in paragraph 3(3)(c), the Agency, in the name of Her Majesty in right of Canada or in its own name, may enter into an agreement with a payment card network operator, including an agreement respecting the provision of information or the payment of fees. 2010, c. 12, s. 1838
Financial Consumer Agency of Canada Act — F-11.1 8
Appointment of Deputy Commissioner 8 The Commissioner may appoint one or more officers each to be called a Deputy Commissioner of the Financial Consumer Agency of Canada who shall act under the instructions of the Commissioner.
Financial Consumer Agency of Canada Act — F-11.1 9
Exercise by personnel 9 Except as otherwise provided by the Commissioner and subject to any terms and conditions that may be specified by the Commissioner, a person who is an officer or employee of the Agency may exercise any of the powers and perform any of the duties and functions of the Commissioner under this Act if the person is appointed to serve in the Agency in a capacity appropriate to the exercise of the power or performance of the duty or function.
Financial Consumer Agency of Canada Act — F-11.1 10
Employees 10 The employees that are necessary to enable the Commissioner to perform the Commissioner’s duties are to be appointed in accordance with the Public Service Employment Act . 2001, c. 9, s. 10 2024, c. 17, s. 205 2026, c. 3, s. 232
Financial Consumer Agency of Canada Act — F-11.1 11
Responsibility for human resources management 11 (1) In respect of persons appointed under sections 8 and 10, the Commissioner is authorized to exercise the powers and perform the functions of the Treasury Board that relate to human resources management within the meaning of paragraphs 7(1)(b) and (e) and section 11.1 of the Financial Administration Act , and those of deputy heads under subsection 12(2) of that Act, as that subsection reads without regard to any terms and conditions that the Governor in Council may direct, including the determination of terms and conditions of employment and the responsibility for employer and employee relations. Delegation of powers (2) The Commissioner may authorize any person employed in the federal public administration to exercise and perform, in any manner and subject to any terms and conditions that the Commissioner directs, any of the powers and functions of the Commissioner in relation to human resources management in the public service and may, from time to time as the Commissioner sees fit, revise or rescind and reinstate the authority so granted. Sub-delegation of such powers (3) Any person authorized under subsection (2) to exercise and perform any of the powers and functions of the Commissioner may, subject to and in accordance with the authorization, authorize one or more persons under their jurisdiction or any other person to exercise or perform any such power or function. 2001, c. 9, s. 11; 2003, c. 22, s. 170 2024, c. 17, s. 206 2026, c. 3, s. 233
Financial Consumer Agency of Canada Act — F-11.1 12
Official Languages Act 12 For greater certainty, the Official Languages Act applies to the Agency.
Financial Consumer Agency of Canada Act — F-11.1 13
Expenditures out of C.R.F. 13 (1) Subject to subsection (2), the Minister may, in any fiscal year on terms and conditions — including the rate of interest, if any — that are determined by the Minister, advance amounts out of the Consolidated Revenue Fund to the Agency to permit it to defray its costs of operation. Spending authority (2) In carrying out its responsibilities, the Agency may spend assessments and other revenues received through the conduct of its operations in the fiscal year in which they are received or, unless an appropriation Act provides otherwise, in the next fiscal year. The amount of those assessments or other revenues shall be paid out of the Consolidated Revenue Fund. Payment for activity (3) If the Agency carries on any activity in furtherance of an object described in paragraph 3(2)(d) or (e) on the Minister’s recommendation, the Minister may on terms and conditions approved by the Treasury Board, in any fiscal year, make a payment out of the Consolidated Revenue Fund to the Agency for the purposes of the activity. 2001, c. 9, s. 13; 2007, c. 29, s. 154; 2013, c. 1, s. 11 2024, c. 17, s. 208 2026, c. 3, s. 235
Financial Consumer Agency of Canada Act — F-11.1 14
Ownership 14 (1) The Commissioner, a person appointed under subsection 4(4) or a Deputy Commissioner must not hold, directly or indirectly, any interest or right in any shares of any financial institution, any bank holding company, any insurance holding company, the external complaints body or any other body corporate, however created, carrying on any business in Canada that is substantially similar to any business carried on by any financial institution or the external complaints body. Prohibitions — federal credit union (2) The Commissioner, a person appointed under subsection 4(4) or a Deputy Commissioner must not (a) directly or indirectly hold any interest or right in membership shares of a federal credit union, within the meaning of section 2 of the Bank Act , in excess of the minimum number of membership shares of the federal credit union that is required for membership; or (b) exercise any right he or she has as a member of such a federal credit union, except any right that he or she has as a customer of the federal credit union. 2001, c. 9, s. 14; 2010, c. 12, s. 2116, c. 25, ss. 158, 164 2023, c. 26, s. 142 2024, c. 17, s. 209 2026, c. 3, s. 236
Financial Consumer Agency of Canada Act — F-11.1 14.1
Ownership — payment card network operators 14.1 The Commissioner, a person appointed under subsection 4(4) or a Deputy Commissioner must not hold, directly or indirectly, any interest or right in any shares of a payment card network operator. 2010, c. 12, s. 1839 2024, c. 17, s. 210 2026, c. 3, s. 237
Financial Consumer Agency of Canada Act — F-11.1 16
No grant or gratuity to be made 16 (1) The Commissioner, a person appointed under subsection 4(4), a Deputy Commissioner and any person appointed under section 10 must not accept or receive, directly or indirectly, any grant or gratuity from a financial institution, a bank holding company, an insurance holding company or the external complaints body or from a director, officer or employee of any of them and a financial institution, a bank holding company, an insurance holding company and the external complaints body, and any director, officer or employee of any of them, must not make or give any such grant or gratuity. No grant or gratuity — payment card network operators (1.1) The Commissioner, a person appointed under subsection 4(4), a Deputy Commissioner and any person appointed under section 10 must not accept or receive, directly or indirectly, any grant or gratuity from a payment card network operator or any of its directors, officers or employees, and a payment card network operator or any of its directors, officers or employees must not make or give any such grant or gratuity. (1.2) [Repealed, 2026, c. 3, s. 238] Offence and punishment (2) Every person, financial institution, bank holding company, insurance holding company or payment card network operator that contravenes subsection (1) or (1.1) is guilty of an offence and liable (a) on summary conviction, to a fine of not more than $2000 or to imprisonment for a term of not more than six months or to both; or (b) on conviction on indictment, to a fine of not more than $10,000 or to imprisonment for a term of not more than five years or to both. 2001, c. 9, s. 16; 2010, c. 12, s. 1840, c. 25, s. 159 2023, c. 26, s. 143 2024, c. 17, s. 211 2026, c. 3, s. 238
Financial Consumer Agency of Canada Act — F-11.1 19
Regulations 19 (1) The Governor in Council may make regulations (a) designating, as a violation that may be proceeded with under sections 20 to 31, the contravention of a specified consumer provision, or the non-compliance with (i) a compliance agreement entered into under an Act listed in Schedule 1, and (ii) terms and conditions, undertakings or directions referred to in subparagraph 3(2)(a)(ii). (a.1) designating, as a violation that may be proceeded with under sections 20 to 31, the contravention of a specified provision of the Payment Card Networks Act or its regulations; (a.2) designating, as a violation that may be proceeded with under sections 20 to 31, the non-compliance with an agreement entered into under section 7.1; (b) fixing, in accordance with subsection (2), a penalty, or a range of penalties, in respect of any violation; (c) respecting the service of documents required or authorized to be served under sections 20 to 31, including the manner and proof of service and the circumstances under which documents are deemed to be served; (c.1) prescribing the circumstances in which the Commissioner shall not make public, under subsection 31(1), the name of the person who committed the violation; and (d) generally, for carrying out the purposes and provisions of this section and sections 20 to 31. Maximum penalties (2) The maximum penalty for a violation is $1,000,000 in the case of a violation that is committed by a natural person, and $10,000,000 in the case of a violation that is committed by a financial institution or a payment card network operator. 2001, c. 9, s. 19; 2007, c. 6, s. 436; 2010, c. 12, ss. 1843, 1856; 2012, c. 5, s. 219 2018, c. 27, s. 344
Financial Consumer Agency of Canada Act — F-11.1 20
Criteria for penalty 20 Except if a penalty is fixed under paragraph 19(1)(b), the amount of a penalty shall, in each case, be determined taking into account (a) the degree of intention or negligence on the part of the person who committed the violation; (b) the harm done by the violation; (c) the duration of the violation; (d) the ability of the person who committed the violation to pay the penalty; (e) the history of the person who committed the violation with respect to any prior violation or conviction under an Act listed in Schedule 1 within the five-year period immediately before the violation; and (f) any other criteria that may be prescribed. 2001, c. 9, s. 20 2018, c. 27, s. 345
Financial Consumer Agency of Canada Act — F-11.1 20.1
Purpose of penalty 20.1 The purpose of the penalty is to promote compliance with the consumer provisions, compliance agreements that have been entered into under an Act listed in Schedule 1, any terms and conditions, undertakings or directions referred to in subparagraph 3(2)(a)(ii), the provisions of the Payment Card Networks Act or its regulations, and agreements entered into under section 7.1, and not to punish. 2018, c. 27, s. 346
Financial Consumer Agency of Canada Act — F-11.1 21
How act or omission may be proceeded with 21 If a contravention or non-compliance that is designated under paragraph 19(1)(a) or (a.1) can be proceeded with either as a violation or as an offence, proceeding in one manner precludes proceeding in the other. 2001, c. 9, s. 21; 2010, c. 12, s. 1844
Financial Consumer Agency of Canada Act — F-11.1 22
Commission of violation 22 (1) Every contravention or non-compliance that is designated under paragraphs 19(1)(a) to (a.2) constitutes a violation and the person that commits the violation is liable to a penalty determined in accordance with sections 19 and 20. Notice of violation (2) If the Commissioner believes on reasonable grounds that a person has committed a violation, he or she may issue, and shall cause to be served on the person, a notice of violation. Contents of notice (3) A notice of violation shall name the person believed to have committed a violation, identify the violation and set out (a) the penalty that the Commissioner proposes to impose; (b) the right of the person, within 30 days after the notice is served, or within any longer period that the Commissioner specifies, to pay the penalty or to make representations to the Commissioner with respect to the violation and the proposed penalty, and the manner for doing so; and (c) the fact that, if the person does not pay the penalty or make representations in accordance with the notice, the person will be deemed to have committed the violation and the Commissioner may impose a penalty in respect of it. 2001, c. 9, s. 22; 2010, c. 12, s. 1845
Financial Consumer Agency of Canada Act — F-11.1 23
Payment of penalty 23 (1) If the person pays the penalty proposed in the notice of violation, the person is deemed to have committed the violation and proceedings in respect of it are ended. Representations to Commissioner (2) If the person makes representations in accordance with the notice, the Commissioner shall decide, on a balance of probabilities, whether the person committed the violation and, if so, may, subject to any regulations made under paragraph 19(1)(b), impose the penalty proposed, a lesser penalty or no penalty. Failure to pay or make representations (3) A person who neither pays the penalty nor makes representations in accordance with the notice is deemed to have committed the violation and the Commissioner may, subject to any regulations made under paragraph 19(1)(b), impose the penalty proposed, a lesser penalty or no penalty. Notice of decision and right of appeal (4) The Commissioner shall cause notice of any decision made under subsection (2) or (3) to be issued and served on the person together with notice of the right of appeal under section 24.
Financial Consumer Agency of Canada Act — F-11.1 24
Right of appeal 24 (1) A person on whom a notice under subsection 23(4) is served may, within 30 days after the notice is served, or within any longer period that the Court allows, appeal the decision to the Federal Court. Court to take precautions against disclosing (2) In an appeal, the Court shall take every reasonable precaution, including, when appropriate, conducting hearings in private, to avoid the disclosure by the Court or any person of confidential information referred to in subsection 17(1) or (3). Powers of Court (3) On an appeal, the Court may confirm, set aside or, subject to any regulations made under paragraph 19(1)(b), vary the decision of the Commissioner. 2001, c. 9, s. 24; 2010, c. 12, s. 1846
Financial Consumer Agency of Canada Act — F-11.1 25
Debts to Her Majesty 25 (1) A penalty constitutes a debt due to Her Majesty in right of Canada that may be recovered as such in the Federal Court. Time limit (2) No proceedings to recover a debt referred to in subsection (1) may be commenced later than five years after the debt became payable. Proceeds payable to Receiver General (3) A penalty paid or recovered under sections 19 to 24, this section and sections 26 to 31 is payable to and shall be remitted to the Receiver General.