GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bank Act — B-1.01 974
Not statutory instruments 974 An instrument issued or made under this Act and directed to a single bank, bank holding company, authorized foreign bank or person, other than a regulation made under paragraph 627.998(o) or an order referred to in section 499, is not a statutory instrument for the purposes of the Statutory Instruments Act . 2001, c. 9, s. 183; 2010, c. 25, s. 155 2018, c. 27, s. 333 2023, c. 26, s. 138
Bank Act — B-1.01 975
Form 975 The Superintendent may, by order, establish the form of any application to be made to the Minister or the Superintendent under this Act. 2001, c. 9, s. 183
Bank Act — B-1.01 976
Content of applications 976 (1) The following applications to the Superintendent must contain the information, material and evidence that the Superintendent may require: (a) applications for approval under subsection 65(1), 72(2), 75(4), 79(5), 79.1(2), 80(1), 170(1), 192.03(6), 217(3), 421(1), 468(6) or (11), 471(1) or (2) or 482(1), subparagraph 487(2)(a)(vi), section 490 or subsection 494(3) or (4), 495.3(1), 553.1(1), 709(1), 716(2), 718(4), 723(1), 758(1), 924(1), 930(6) or (11), 933(1) or 944(1); (b) applications for consent under subsection 71(1) or 715(1); (c) applications for exemptions under subsection 156.05(3); and (d) applications for extensions of time under subsection 471(3) or (5), 472(4), 473(4), 933(2) or (4), 934(3) or 935(3). Receipt (2) Without delay after receiving the application, the Superintendent shall send a receipt to the applicant certifying the date on which it was received. Notice of decision to applicant (3) Subject to subsection (4), the Superintendent shall, within a period of thirty days after the receipt of the application, send to the applicant (a) a notice approving the application, subject to any terms and conditions that the Superintendent considers appropriate; or (b) if the Superintendent is not satisfied that it should be approved, a notice to that effect. Extension of period (4) If the Superintendent is unable to complete the consideration of the application within the period referred to in subsection (3), the Superintendent shall, within that period, send a notice to the applicant informing the applicant that the Superintendent has extended the period for a further period set out in the notice. Deemed approval (5) If the applicant does not receive the notice required by subsection (3) and, where applicable, subsection (4), within the required period, the Superintendent is deemed to have approved the application and granted the approval, consent, extension or exemption to which the application relates, regardless of whether the approval, consent, extension or exemption is to be in writing or not. 2001, c. 9, s. 183; 2007, c. 6, s. 126; 2010, c. 12, s. 2091
Bank Act — B-1.01 976.1
Application for certain approvals 976.1 (1) An application for the prior written approval of the Minister in respect of any of the following provisions must be filed with the Superintendent and contain the information, material and evidence that the Superintendent may require: (a) paragraphs 410(1)(c) and (c.1); (b) paragraphs 468(5)(b.1), (c), (d) and (d.1); (c) paragraphs 522.22(1)(c), (d) and (d.1); (d) paragraphs 539(1)(b.1) and (b.2); and (e) paragraphs 930(5)(b.1), (c), (d) and (d.1). Certification of receipt of application (2) If, in the opinion of the Superintendent, the application contains all the required information, the Superintendent must refer it to the Minister, together with his or her analysis in relation to the application, and send a receipt to the applicant certifying the date on which the application was referred to the Minister. Incomplete application (3) If, in the opinion of the Superintendent, the application is incomplete, the Superintendent must send a notice to the applicant specifying the information required by the Superintendent to complete it. Notice of decision (4) Subject to subsection (5), the Minister must, within 30 days after the certified date referred to in subsection (2), send to the applicant (a) a notice approving the application; or (b) if the Minister is not satisfied that the application should be approved, a notice to that effect. Extension of period (5) If the Minister is unable to complete the consideration of an application within the 30-day period, the Minister must, within that period, send a notice to the applicant informing the applicant that the Minister has extended the period for a further period set out in the notice. Deemed approval (6) If the Minister does not send the notice referred to in subsection (4) or, where applicable, subsection (5), within the required period, the Minister is deemed to have approved the application. 2007, c. 6, s. 127; 2012, c. 5, s. 103
Bank Act — B-1.01 977
Appeal to Federal Court 977 (1) An appeal lies to the Federal Court from any direction of the Minister made under subsection 401.2(7), 402(1), 402.2(1), 913(7) or 915(1). Powers (2) The Federal Court may, in an appeal under subsection (1), (a) dismiss the appeal; (b) set aside the direction or decision; or (c) set aside the direction or decision and refer the matter back for re-determination. Certificate (3) For the purposes of an appeal under subsection (1), the Minister shall, at the request of the bank, bank holding company or person making the appeal, provide the bank, bank holding company or person with a certificate in writing setting out the direction or decision appealed from and the reasons why the direction or decision was made. 2001, c. 9, s. 183; 2012, c. 31, s. 130 2023, c. 26, s. 577
Bank Act — B-1.01 978
Power to make regulations 978 (1) The Governor in Council may make regulations (a) prescribing anything that is required or authorized by this Act to be prescribed; (b) prescribing the way in which anything that is required or authorized by this Act to be prescribed is to be determined; (c) respecting, for any purpose of any provision of the Act, the determination of the equity of a bank or a bank holding company; (d) defining words and expressions to be defined for the purposes of this Act; (e) requiring the payment of a fee in respect of the filing, examining or issuing of any document or in respect of any action that the Superintendent is required or authorized to take under this Act, and fixing the amount of the fee or the manner of determining its amount; (f) respecting the regulatory capital and total assets of a bank or a bank holding company; (g) respecting the retention, in Canada, of assets of a bank or a bank holding company; (h) respecting the value of assets of a bank or a bank holding company to be held in Canada and the manner in which those assets are to be held; (i) respecting the protection and maintenance of assets of a bank or a bank holding company, including regulations respecting the bonding of directors, officers and employees of a bank or a bank holding company; (j) respecting the holding of shares, membership shares and ownership interests for the purposes of sections 70, 74 and 714; (k) respecting information, in addition to the information required by section 634 or 953, to be maintained in the register referred to in that section; and (l) generally for carrying out the purposes and provisions of this Act. Incorporation by reference (2) The regulations may incorporate any material by reference regardless of its source and either as it exists on a particular date or as amended from time to time. Incorporated material is not a regulation (3) Material does not become a regulation for the purposes of the Statutory Instruments Act because it is incorporated by reference. 2001, c. 9, s. 183; 2005, c. 54, s. 135; 2010, c. 12, s. 2092
Bank Act — B-1.01 979
Delegation 979 The Minister may delegate any of the Minister’s powers, duties and functions under this Act to any Minister of State appointed under the Ministries and Ministers of State Act to assist the Minister. 2001, c. 9, s. 183
Bank Act — B-1.01 979.1
Definition of wrongdoing 979.1 In this Part, wrongdoing includes a contravention of (a) any provision of this Act or the regulations; (b) a voluntary code of conduct that a bank or authorized foreign bank has adopted or a public commitment that it has made; and (c) a policy or procedure established by a bank or authorized foreign bank. 2018, c. 27, s. 334
Bank Act — B-1.01 (a)
(a) any provision of this Act or the regulations; (b) a voluntary code of conduct that a bank or authorized foreign bank has adopted or a public commitment that it has made; and (c) a policy or procedure established by a bank or authorized foreign bank.
Bank Act — B-1.01 979.2
Whistleblowing 979.2 (1) Any employee of a bank or authorized foreign bank who has reasonable grounds to believe that the bank, authorized foreign bank or any person has committed or intends to commit a wrongdoing may report the particulars of the matter to the bank or authorized foreign bank or to the Commissioner, the Superintendent, a government agency or body that regulates or supervises financial institutions or a law enforcement agency. Confidentiality (2) The bank, authorized foreign bank, Commissioner, Superintendent, government agency or body or law enforcement agency shall keep confidential the identity of the employee and any information that could reasonably be expected to reveal their identity. Exception — bank or authorized foreign bank (3) Despite subsection (2), the bank or authorized foreign bank may disclose the identity of the employee and information that could reasonably be expected to reveal their identity to the Commissioner, Superintendent, government agency or body or law enforcement agency if the Commissioner, Superintendent, government agency or body or law enforcement agency considers the disclosure necessary for purposes related to an investigation. Exception — Commissioner, Superintendent, agency and body (4) Despite subsection (2), the Commissioner, Superintendent, government agency or body or law enforcement agency may disclose to each other the identity of the employee and information that could reasonably be expected to reveal their identity for purposes related to an investigation. Informing of disclosure (5) If the bank, authorized foreign bank, Commissioner, Superintendent, government agency or body or law enforcement agency has disclosed, under subsection (3) or (4), the identity of the employee or any information that could reasonably be expected to reveal their identity, the bank, authorized foreign bank, Commissioner, Superintendent, government agency or body or law enforcement agency shall make every reasonable effort to inform the employee of the disclosure. 2018, c. 27, s. 334
Bank Act — B-1.01 979.3
Procedures — wrongdoing 979.3 A bank or authorized foreign bank shall establish and implement procedures for dealing with matters the particulars of which have been reported to it by employees under subsection 979.2(1). 2018, c. 27, s. 334
Bank Act — B-1.01 979.4
Prohibition 979.4 (1) No bank or authorized foreign bank shall dismiss, suspend, demote, discipline, harass or otherwise disadvantage an employee, or deny an employee a benefit of employment, by reason that (a) the employee, acting on the basis of reasonable belief, has reported particulars under subsection 979.2(1); (b) the employee, acting on the basis of reasonable belief, has refused or stated an intention of refusing to do anything that is a wrongdoing; (c) the employee, acting on the basis of reasonable belief, has done or stated an intention of doing anything that is required to be done in order to prevent a wrongdoing from being committed; or (d) the bank or authorized foreign bank believes that the employee will do anything referred to in paragraphs (a) to (c). Saving (2) Nothing in this section impairs any right of an employee either at law or under an employment contract or collective agreement. 2018, c. 27, s. 334
Bank Act — B-1.01 980
Offence 980 Every person who, without reasonable cause, contravenes any provision of this Act or the regulations is guilty of an offence. 2001, c. 9, s. 183
Bank Act — B-1.01 980.1
False or misleading information 980.1 Every person who knowingly provides false or misleading information in relation to any matter under this Act or the regulations is guilty of an offence. 2007, c. 6, s. 128
Bank Act — B-1.01 981
Undue preference to creditor 981 Every director, officer or employee of a bank or an authorized foreign bank who wilfully gives or concurs in giving to any creditor of the bank or authorized foreign bank any fraudulent, undue or unfair preference over other creditors, by giving security to the creditor, by changing the nature of the creditor’s claim or otherwise, is guilty of an offence. 2001, c. 9, s. 183
Bank Act — B-1.01 982
Failure to provide information 982 Every person who, without reasonable cause, refuses or fails to comply with a requirement made under paragraph 643(2)(b) or 957(2)(b) is guilty of an offence. 2001, c. 9, s. 183
Bank Act — B-1.01 983
 and (b) any word or words, in any language, that are equivalent to any of those words. Entity’s name (14) For the purposes of this section, other than subsection (1), an entity’s name includes (a) a name that is substantially similar to the entity’s name; and (b) the entity’s name in any language. Identifying marks (15) For the purposes of this section, an identifying mark of an entity includes (a) any logogram, insignia or logo of the entity; (b) the initials or any acronym of the entity; (b.1) any trademark of the entity; and (c) any mark that is substantially similar to any identifying mark of the entity. Definition of foreign bank (16) In this section, foreign bank means a foreign bank to which Part XII applies. Entity associated with a foreign bank (17) For the purposes of this section, an entity is associated with a foreign bank if the entity is or is deemed to be associated with the foreign bank within the meaning of section 507 and is an entity to which Part XII applies. Regulations (18) The Governor in Council may make regulations for the purposes of subsections (1) to (3), paragraphs (4)(b), (g) and (h) and subsections (4.2), (4.3), (5.3), (8) and (9.1) to (11). 2001, c. 9, s. 183; 2007, c. 6, s. 129; 2010, c. 12, s. 2093; 2018, c. 12, s. 352
Bank Act — B-1.01 985
Punishment 985 (1) Every person who is guilty of an offence under any of sections 980 to 984 is (a) in the case of a natural person, liable (i) on summary conviction, to a fine of not more than $100,000 or to imprisonment for a term of not more than twelve months, or to both, or (ii) on conviction on indictment, to a fine of not more than $1,000,000 or to imprisonment for a term of not more than five years, or to both; and (b) in the case of an entity, liable (i) on summary conviction, to a fine of not more than $500,000, or (ii) on conviction on indictment, to a fine of not more than $5,000,000. Order to comply (2) If a person has been convicted of an offence under this Act, the court may, in addition to any punishment it may otherwise impose, order the person to comply with the provisions of this Act or the regulations in respect of which the person was convicted. Additional fine (3) If a person has been convicted of an offence under this Act, the court may, if it is satisfied that as a result of the commission of the offence the convicted person acquired any monetary benefits or that monetary benefits accrued to the convicted person or their spouse, common-law partner or other dependant, order the convicted person to pay, despite the maximum amount of any fine that may otherwise be imposed under this Act, an additional fine in an amount equal to three times the court’s estimation of the amount of those monetary benefits. 2001, c. 9, s. 183; 2005, c. 54, s. 136
Bank Act — B-1.01 986
Liability of officers, directors, etc. 986 If an entity commits an offence under this Act, any officer, director, agent or principal officer of the entity who directed, authorized, assented to, acquiesced in or participated in the commission of the offence is a party to and guilty of the offence and liable on summary conviction or on conviction on indictment to the punishment provided under paragraph 985(1)(a) for the offence, whether or not the entity has been prosecuted or convicted. 2001, c. 9, s. 183
Bank Act — B-1.01 987
Limitation period 987 (1) Proceedings by way of summary conviction in respect of an offence under a provision of this Act may be commenced at any time within, but not later than, two years after the day on which the subject-matter of the proceedings became known, in the case of an offence under a consumer provision, to the Commissioner and, in any other case, to the Superintendent. Certificate of Superintendent or Commissioner (2) A document appearing to have been issued by the Superintendent or the Commissioner, as the case may be, certifying the day on which the subject-matter of any proceedings became known to the Superintendent or the Commissioner is admissible in evidence without proof of the signature or official character of the person appearing to have signed it and is, in the absence of evidence to the contrary, proof of the matter asserted in it. 2001, c. 9, s. 183
Bank Act — B-1.01 988
Effect of offence on contracts 988 Unless otherwise expressly provided in this Act, a contravention of any provision of this Act or the regulations does not invalidate any contract entered into in contravention of the provision. 2001, c. 9, s. 183
Bank Act — B-1.01 989
Compliance or restraining order — bank 989 (1) If a bank or a bank holding company or any director, officer, employee or agent of one does not comply with any provision of this Act or the regulations other than a consumer provision, or of the incorporating instrument or any by-law of the bank or bank holding company, the Superintendent, any complainant or any creditor of the bank or bank holding company may, in addition to any other right that that person has, apply to a court for an order directing the bank, bank holding company, director, officer, employee or agent to comply with — or restraining the bank, bank holding company, director, officer, employee or agent from acting in breach of — the provision and, on the application, the court may so order and make any further order it thinks fit. Compliance or restraining order — authorized foreign bank (2) If an authorized foreign bank or any of its directors, officers, employees or agents does not comply with any provision of this Act or the regulations other than a consumer provision, or of an order made under subsection 524(1), 528(1) or (1.1) or 534(1) in respect of the authorized foreign bank, the Superintendent, any complainant or any creditor of the authorized foreign bank may, in addition to any other right that that person has, apply to a court for an order directing the authorized foreign bank, director, officer, employee or agent to comply with — or restraining the authorized foreign bank, director, officer, employee or agent from acting in breach of — the provision and, on the application, the court may so order and make any further order that it thinks fit. Compliance or restraining order — consumer provisions (3) If a bank or an authorized foreign bank or any director, officer, employee or agent of one does not comply with any applicable consumer provision, the Commissioner or any complainant may, in addition to any other right that that person has, apply to a court for an order directing the bank, authorized foreign bank, director, officer, employee or agent to comply with — or restraining the bank, authorized foreign bank, director, officer, employee or agent from acting in breach of — the consumer provision and, on the application, the court may so order and make any further order it thinks fit. 2001, c. 9, s. 183; 2007, c. 6, s. 130
Bank Act — B-1.01 989.1
Production of information and documents 989.1 The Superintendent may direct an entity to provide him or her with the information or documents that he or she specifies if he or she is of the opinion that their production is necessary in order to be satisfied that the entity is meeting the requirements of subsection 983(4.3). 2018, c. 12, s. 353
Bank Act — B-1.01 989.2
Superintendent’s directions 989.2 (1) If, in the opinion of the Superintendent, a person is acting in a manner that is prohibited by section 983, the Superintendent may direct the person to (a) cease or refrain from acting in that manner; and (b) perform the acts that in the opinion of the Superintendent are necessary to remedy the situation. Opportunity for representations (2) Subject to subsection (3), no direction is to be issued to a person under subsection (1) unless the person is provided with a reasonable opportunity to make representations in respect of the matter. Temporary direction (3) If, in the opinion of the Superintendent, the length of time required for representations to be made might be prejudicial to the public interest, the Superintendent may make a temporary direction with respect to the matters referred to in paragraphs (1)(a) and (b) having effect for a period of not more than 15 days. Continued effect (4) A temporary direction under subsection (3) continues to have effect after the expiration of the 15-day period referred to in that subsection if no representations are made within that period or, if representations have been made, the Superintendent notifies the person that the Superintendent is not satisfied that there are sufficient grounds for revoking the direction. 2018, c. 12, s. 353
Bank Act — B-1.01 989.3
Court enforcement 989.3 (1) If a person contravenes a direction made under subsection 989.2(1) or (3), the Superintendent may, in addition to any other action that may be taken under this Act or the Office of the Superintendent of Financial Institutions Act , apply to a court for an order requiring the person to comply with the direction, and on such application the court may so order and make any other order it thinks fit. Appeal (2) An appeal from an order of a court under subsection (1) lies in the same manner, and to the same court, as an appeal from any other order of the court. 2018, c. 12, s. 353
Bank Act — B-1.01 990
Appeal of final order 990 (1) An appeal lies to the court of appeal of a province from any final order made by a court of that province under this Act. Appeal with leave (2) An appeal lies to the court of appeal of a province from any order, other than a final order made by a court of that province, only with leave of the court of appeal in accordance with the rules applicable to that court. 2001, c. 9, s. 183; 2005, c. 54, s. 137
Bank Act — B-1.01 991
Recovery and application of fines 991 All fines payable under this Act are recoverable and enforceable, with costs, at the suit of Her Majesty in right of Canada, instituted by the Attorney General of Canada, and, when recovered, belong to Her Majesty in right of Canada. 2001, c. 9, s. 183
Bank Act — B-1.01 992
Definitions 992 The following definitions apply in this Part. electronic document means, except in section 1001, any form of representation of information or concepts that is fixed in any medium in or by electronic, optical or other similar means and that can be read or perceived by a person or by any means. ( document électronique ) information system means a system used to generate, send, receive, store or otherwise process an electronic document. ( système de traitement de l’information ) NI 51-102 in respect of a province set out in column 1 of Table 1 of Schedule V, means the version of National Instrument 51-102 referred to in column 2. ( Règlement 51-102 ) NI 54-101 in respect of a province set out in column 1 of Table 1 of Schedule V, means the version of National Instrument 54-101 referred to in column 2. ( Règlement 54-101 ) 2005, c. 54, s. 138 2026, c. 3, s. 288
Bank Act — B-1.01
electronic document means, except in section 1001, any form of representation of information or concepts that is fixed in any medium in or by electronic, optical or other similar means and that can be read or perceived by a person or by any means. ( document électronique )
Bank Act — B-1.01
information system means a system used to generate, send, receive, store or otherwise process an electronic document. ( système de traitement de l’information )