GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Cooperative Credit Associations Act — C-41.01 452.1
Required information 452.1 A retail association shall provide the Commissioner with the information at the times and in the form that the Commissioner may require for the purposes of the administration of the Financial Consumer Agency of Canada Act and the consumer provisions. 2001, c. 9, s. 336
Cooperative Credit Associations Act — C-41.01 452.2
Confidential information 452.2 (1) Subject to subsection (2), information regarding the business or affairs of a retail association or regarding persons dealing with one that is obtained by the Commissioner or by any person acting under the direction of the Commissioner, in the course of the exercise or performance of powers, duties and functions referred to in subsection 5(1) of the Financial Consumer Agency of Canada Act , and any information prepared from that information, is confidential and shall be treated accordingly. Disclosure permitted (2) If the Commissioner is satisfied that the information will be treated as confidential by the agency, body or person to whom it is disclosed, subsection (1) does not prevent the Commissioner from disclosing it (a) to any government agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision; (b) to any other agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision; (c) to the Canada Deposit Insurance Corporation, for purposes related to its operation; and (d) to the Deputy Minister of Finance or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance or to the Governor of the Bank of Canada or any officer of the Bank of Canada authorized in writing by the Governor of the Bank of Canada, for the purposes of policy analysis related to the regulation of financial institutions. 2001, c. 9, s. 336
Cooperative Credit Associations Act — C-41.01 452.3
Examination 452.3 (1) The Commissioner, from time to time, but at least once in each calendar year, shall make or cause to be made any examination and inquiry that the Commissioner considers necessary for the purposes of satisfying the Commissioner that the applicable consumer provisions are being complied with and, after the conclusion of each examination and inquiry, shall report on it to the Minister. Access to records of retail association (2) The Commissioner or a person acting under the Commissioner’s direction in carrying out his or her duties under subsection (1) (a) has a right of access to any records, including electronic records, of a retail association; and (b) may require the directors or officers of a retail association to provide information and explanations, to the extent that they are reasonably able to do so, in respect of any matter subject to examination or inquiry under subsection (1). 2001, c. 9, s. 336
Cooperative Credit Associations Act — C-41.01 452.4
Power of Commissioner on inquiry 452.4 The Commissioner, in carrying out his or her duties in relation to consumer provisions, has all the powers of a person appointed as a commissioner under Part II of the Inquiries Act for the purpose of obtaining evidence under oath, and may delegate those powers to any person acting under the Commissioner’s direction. 2001, c. 9, s. 336
Cooperative Credit Associations Act — C-41.01 452.5
Compliance agreement 452.5 The Commissioner may enter into an agreement, called a “compliance agreement”, with a retail association for the purposes of implementing any measure designed to further compliance by it with the consumer provisions. 2001, c. 9, s. 336
Cooperative Credit Associations Act — C-41.01 452.6
Execution of documents 452.6 Any by-law, notice, resolution, requisition, statement or other document required or permitted to be executed or signed by more than one person for the purposes of this Act may be executed or signed in several documents of like form, each of which is executed or signed by one or more of the persons. The documents if duly executed or signed by all persons required or permitted to sign them are deemed to constitute one document for the purposes of this Act. 2005, c. 54, s. 205
Cooperative Credit Associations Act — C-41.01 453
Notice to directors, members and shareholders 453 A notice or document required by this Act or the regulations or by the incorporating instrument or by-laws of an association to be sent to a director, member or shareholder of an association may be sent by prepaid mail addressed to, or may be delivered personally to, (a) the director at the director’s latest address as shown in the records of the association or in the latest return made under section 432; (b) the member at the member’s latest address as shown in the records of the association; and (c) the shareholder at the shareholder’s latest address as shown in the records of the association or its transfer agent.
Cooperative Credit Associations Act — C-41.01 454
Presumption from return 454 A director named in the latest return sent by an association to the Superintendent under section 432 is presumed for the purposes of this Act to be a director of the association referred to in the return.
Cooperative Credit Associations Act — C-41.01 455
Presumption of receipt 455 (1) A notice or document sent by mail in accordance with section 453 to a director, member or shareholder is deemed to be received by the director, member or shareholder at the time it would be delivered in the ordinary course of mail unless there are reasonable grounds for believing that the director, member or shareholder did not receive the notice or document at that time or at all. Undelivered notices (2) If an association sends a notice or document to a member or shareholder in accordance with section 453 and it is returned on two consecutive occasions because the member or shareholder cannot be found, the association is not required to send any further notices or documents to them until it is informed in writing of their new address. 1991, c. 48, s. 455; 2005, c. 54, s. 206
Cooperative Credit Associations Act — C-41.01 456
Service on an association 456 A notice or document required by this Act to be sent to or served on an association may be sent by registered mail to the head office of the association and, if so sent, is deemed to be received or served at the time it would be delivered in the ordinary course of mail unless there are reasonable grounds for believing that the association did not receive the notice or document at that time or at all.
Cooperative Credit Associations Act — C-41.01 457
Certificate of association 457 (1) A certificate issued on behalf of an association stating any fact that is set out in the incorporating instrument, the by-laws, the minutes of a meeting, or in a contract to which the association is a party, may be signed by a director or an officer of the association. Proof of certain cases (2) When introduced as evidence in any civil, criminal or administrative action or proceeding, (a) a fact stated in a certificate referred to in subsection (1), (b) a certified extract from the members register of an association, (c) a certified extract from a securities register of an association, or (d) a certified copy of, or an extract from, minutes of a meeting is, in the absence of evidence to the contrary, proof of the facts so certified without proof of the signature or official character of the person appearing to have signed the certificate.
Cooperative Credit Associations Act — C-41.01 458
Entry in securities register 458 (1) An entry in the securities register of, or on a security certificate issued by, an association is evidence that the person in whose name the security is registered is the owner of the securities described in the register or in the certificate. Entry in members register (2) An entry in the members register of an association is evidence that the person in whose name a membership share is registered is a member of that association and the owner of that membership share. 1991, c. 48, s. 458; 2005, c. 54, s. 207(F)
Cooperative Credit Associations Act — C-41.01 459
Verification of documents or fact 459 (1) The Superintendent may require that a document or a fact stated in a document that is required by or under this Act to be sent to the Superintendent or to the Minister be verified in accordance with subsection (2). Form of proof (2) A document or fact required by this Act or by the Superintendent to be verified may be verified by affidavit made under oath or by statutory declaration under the Canada Evidence Act before any commissioner for oaths or for taking affidavits.
Cooperative Credit Associations Act — C-41.01 459.1
Alternative means of publication 459.1 (1) Anything that is required by a provision of this Act to be published in the Canada Gazette or to be published in any other way may, instead of being published in that way, be published in any manner that may be prescribed for the purpose of that provision. Alternative means of publishing summaries (2) Anything that is required by a provision of this Act to be summarized in a publication may instead be summarized and published in any manner that may be prescribed for the purpose of that provision. Publication conditions (3) Any condition under a provision of this Act that something be published in the Canada Gazette or in any other way is satisfied if that thing is published instead in any manner that may be prescribed for the purpose of that provision. Other consequences (4) Where a provision of this Act provides for consequences to follow the publication of something in the Canada Gazette or in any other manner, the same consequences follow the publication of that thing in any other manner that may be prescribed for the purpose of that provision. 1997, c. 15, s. 159
Cooperative Credit Associations Act — C-41.01 459.2
Definition of approval 459.2 In sections 459.3 to 459.8, approval includes any consent, designation, order, exemption, extension or other permission granted by the Minister or the Superintendent under this Act, and includes the issuance of letters patent. 2001, c. 9, s. 337; 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.3
Matters to take into account — Minister 459.3 (1) In addition to any matters or conditions provided for in this Act that are relevant to the granting of an approval, the Minister may, in considering whether to grant the approval, take into account all matters that he or she considers relevant in the circumstances, including (a) national security; and (b) Canada’s international relations and its international legal obligations. Matters to take into account — Superintendent (2) In addition to any matters or conditions provided for in this Act that are relevant to the granting of an approval and to any prudential considerations that the Superintendent considers relevant in the circumstances, the Superintendent may, in considering whether to grant the approval, take into account (a) national security; and (b) Canada’s international relations and its international legal obligations. 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.4
Minister — terms, conditions and undertakings 459.4 (1) In addition to any other action that may be taken under this Act, the Minister may, in granting an approval, impose any terms and conditions or require any undertaking that the Minister considers appropriate, including any terms, conditions or undertakings specified by the Superintendent to maintain or improve the safety and soundness of any financial institution regulated under an Act of Parliament to which the approval relates or that might be affected by it. Commissioner — supervision of terms, conditions and undertakings (1.1) If the Minister specifies that the Commissioner is to supervise an association to determine if it is complying with any terms and conditions that are imposed, or undertakings that are required, by the Minister for the protection of the association’s customers, the Commissioner may take the same measures that the Commissioner could take if the terms and conditions or undertaking were a consumer provision. Superintendent — terms, conditions and undertakings (2) In addition to any other action that may be taken under this Act, the Superintendent may, in granting an approval, impose any terms and conditions or require any undertaking that the Superintendent considers appropriate. 2007, c. 6, s. 182; 2010, c. 12, s. 1859
Cooperative Credit Associations Act — C-41.01 459.5
Revocation, suspension or amendment of approval — Minister 459.5 (1) The Minister may revoke, suspend or amend any approval granted by the Minister if he or she considers it appropriate to do so. In deciding whether to take any of those actions, the Minister may take into account all matters that he or she considers relevant in the circumstances, including (a) national security; and (b) Canada’s international relations and its international legal obligations. Revocation, suspension or amendment of approval — Superintendent (2) The Superintendent may revoke, suspend or amend any approval granted by the Superintendent if he or she considers it appropriate to do so. In deciding whether to take any of those actions, the Superintendent may take into account any prudential considerations that he or she considers relevant in the circumstances and (a) national security; and (b) Canada’s international relations and its international legal obligations. Representations (3) Before taking any action under this section, the Minister or the Superintendent, as the case may be, shall give the person concerned a reasonable opportunity to make representations. 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.6
Effect of non-compliance on approval 459.6 (1) Unless otherwise expressly provided in this Act, a failure to comply with a term, condition or undertaking imposed or required under any provision of this Act does not invalidate the approval to which the term, condition or undertaking relates. Non-compliance (2) In addition to any other action that may be taken under this Act, in the case of non-compliance by a person with a term, condition or undertaking imposed or required under any provision of this Act, the Minister or the Superintendent, as the case may be, may (a) revoke, suspend or amend the approval to which the term, condition or undertaking relates; or (b) apply to a court for an order directing the person to comply with the term, condition or undertaking, and on such an application the court may make the order and any other order that it thinks fit. Representations (3) Before taking any action under subsection (2), the Minister or the Superintendent, as the case may be, shall give the person concerned a reasonable opportunity to make representations. Revocation, suspension or amendment (4) At the request of the person concerned, the Minister or the Superintendent, as the case may be, may revoke, suspend or amend any terms or conditions imposed by him or her and may revoke or suspend an undertaking given to him or her or approve its amendment. 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.7
Multiple approval — other approvals 459.7 The Minister or the Superintendent may grant more than one approval, other than letters patent, in a single instrument if he or she considers it appropriate to do so, and if the Minister or Superintendent does so, he or she may specify different effective dates for each of the approvals. 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.8
Exemption in relation to notices of intention 459.8 The Superintendent may, on application, exempt an applicant or applicants from the provisions of this Act respecting the publication of a notice of intention in respect of applications for approvals and impose any terms and conditions respecting the publication of the notice of intention that he or she considers appropriate. 2007, c. 6, s. 182
Cooperative Credit Associations Act — C-41.01 459.81
Calculations — generally accepted accounting principles 459.81 (1) If, as a result of a change to the accounting principles referred to in subsection 292(4) — whether the change is made before or after this section comes into force — the Superintendent considers, given any prudential considerations that he or she considers relevant, that any amount, calculation or valuation under this Act or the regulations is not appropriate, the Superintendent may specify the amount that is to be used or the calculation or valuation that is to be performed instead. Canada Gazette (2) The Superintendent shall cause a notice of the specification to be published in the Canada Gazette within 60 days after the day on which the specification has effect. Five-year limit (3) The specification ceases to have effect on the day indicated in the notice, which may be no later than five years after the day on which the specification is made. 2012, c. 5, s. 120
Cooperative Credit Associations Act — C-41.01 459.9
 acquired under subsection (6) by the Minister or an agent or agency of Her Majesty in right of Canada shall be registered in the name of the Minister, agent or agency, as the case may be, in the association’s securities register if they are capable of being registered in it, and the shares shall be held by the Minister, agent or agency, as the case may be, on behalf of or in trust for Her Majesty. Disposition by Minister (9) The Minister may, at any time, sell or otherwise dispose of shares acquired under subsection (6). The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Disposition by agent or agency (10) An agent or agency of Her Majesty in right of Canada — at the request of the Minister, which may be made at any time — shall sell or otherwise dispose of shares acquired under subsection (6). The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Consideration by Minister (11) If the Minister or an agent or agency of Her Majesty in right of Canada is holding shares of an association on behalf of or in trust for Her Majesty on the day that is two years after the day on which the shares were acquired, the Minister shall consider whether holding the shares continues to promote the stability of the financial system in Canada. Mandatory disposition (12) If the Minister, under subsection (11), considers that holding shares acquired under subsection (6) no longer continues to promote the stability of the financial system in Canada, the Minister — or, at the request of the Minister, the agent or agency of Her Majesty in right of Canada — shall take the measures that the Minister considers practicable in the circumstances to sell or otherwise dispose of the shares. The Surplus Crown Assets Act and section 61 of the Financial Administration Act do not apply to the sale or disposition. Statutory Instruments Act (13) The Statutory Instruments Act does not apply to an order made under this section. Definition of shares (14) For the purposes of this section, shares includes membership shares and any conversion or exchange privilege, option or right to acquire shares or membership shares. 2009, c. 2, s. 279; 2016, c. 7, s. 177
Cooperative Credit Associations Act — C-41.01 460
Not statutory instruments 460 An instrument issued or made under this Act and directed to a single association or person, other than an order referred to in section 423, is not a statutory instrument for the purposes of the Statutory Instruments Act .
Cooperative Credit Associations Act — C-41.01 461
Form 461 The Superintendent may, by order, establish the form of any application to be made to the Minister or the Superintendent under this Act.
Cooperative Credit Associations Act — C-41.01 461.1
Content of applications 461.1 (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 74(1), 80(2), 82(4), 86(5), 87(1), 177(1), 221(2), 385(1), 390(6) or (10), 393(1) or (2) or 406(1), subparagraph 411(2)(a)(iv), section 414 or subsection 418(3) or (3.1); (b) applications for consent under subsection 79(1); (c) applications for exemptions under subsection 166.05(3); and (d) applications for extensions of time under subsection 393(3) or (5), 394(4) or 395(4). 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. 338; 2007, c. 6, s. 183
Cooperative Credit Associations Act — C-41.01 461.2
Application for certain approvals 461.2 (1) An application for the prior written approval of the Minister in respect of paragraph 376(1)(g) or (h) or 390(5)(b.1), (c), (d) or (d.1) must be filed with the Superintendent and contain the information, material and evidence that the Superintendent may require. 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, if applicable, subsection (5), within the required period, the Minister is deemed to have approved the application. 2007, c. 6, s. 184; 2012, c. 5, s. 121