285 (1) The Authority may make rules in respect of the following matters: 1.  Establishing standards of sound business and financial practices for credit unions. 2.  Establishing any fee described in this Act as being established by Authority rule. 3.  Respecting the holding of first meetings, the notice calling the meeting, the quorum, and the business to be transacted. 4.  Prescribing the number of individuals required to incorporate a credit union under section 10. 5.  Prescribing information for the purposes of subsection 12 (1). 6.  Specifying the date on which the financial year of a credit union ends for the purposes of section 27. 7.  Governing membership in a credit union for the purposes of Part III. 8.  Governing the withdrawal of members from credit unions for the purposes of section 40. 9.  Governing the expulsion of members from credit unions for the purposes of section 41. 10.  Regulating the maintenance, by credit unions, of adequate and appropriate forms of capital and liquidity. 11.  Respecting regulatory capital and the total assets of a credit union. 12.  Prescribing phase-in periods for capital adequacy requirements based on a graduated scale. 13.  Prescribing classes of subsidiaries whose shares may be included in a credit union’s regulatory capital. 14.  Governing transactions between a credit union or a subsidiary and a restricted party. 14.1  Governing, for the purposes of section 82.1, the monthly provision for doubtful loans and the establishment of reserves. 15.  Prescribing individuals who are disqualified from being directors of credit unions for the purposes of section 84. 16.  Prescribing the minimum number of directors that a credit union must have for the purposes of section 86. 17.  Governing the election of directors for the purposes of section 87. 18.  Governing the composition of boards for the purposes of section 88. 19.  Governing the terms of office of directors for the purposes of section 89. 20.  Governing quorum for the purposes of section 90. 21.  Governing the filling of board vacancies for the purposes of section 91. 22.  Prescribing circumstances for the purposes of section 92. 23.  Governing the removal of directors for the purposes of section 93. 24.  Governing the resignation of directors for the purposes of section 95. 25.  Governing the remuneration of directors for the purposes of section 99. 26.  Governing the establishment of committees and the delegation of powers and assignment of duties to committees for the purposes of section 101. 27.  Prescribing the powers and duties of audit committees for the purposes of subsection 104 (2). 28.  Governing the officers of credit unions and the power and duties of those officers for the purposes of section 105. 29.  Establishing the procedures for setting, paying and disclosing the remuneration and expenses of officers for the purposes of section 106. 30.  Governing bonds for the purposes of subsection 117 (2). 31.  Governing the appointment of auditors and prescribing the required qualifications of auditors for the purposes of section 125. 32.  Governing the removal of auditors for the purposes of section 126. 33.  Governing the resignation of auditors for the purposes of section 128. 34.  Governing the replacement of auditors for the purposes of section 129. 35.  Establishing the procedures for setting, paying and disclosing the remuneration of auditors for the purposes of section 130. 36.  Prescribing information for the purposes of subsection 137 (2). 37.  Governing the transmission of auditors’ reports for the purposes of subsection 137 (2). 38.  Prescribing businesses and business activities for the purposes of section 138. 39.  Authorizing the dealing in goods or engaging in trade or business for the purposes of subsection 139 (1). 40.  Governing requests for approvals and approvals for the purposes of subsection 139 (3). 41.  Prescribing services as prohibited for the purposes of subsection 139 (4). 42.  Prescribing persons and entities for the purposes of subsection 139 (5). 43.  Governing the extent to which a credit union may undertake the business of insurance or act as an agent for any person in placing insurance for the purposes of section 141. 44.  Permitting credit unions to undertake fiduciary activities for the purposes of section 142. Note: Paragraph 45 of subsection 285 (1) of this Act is not yet in force. It comes into force on a day to be named by proclamation of the Lieutenant Governor. 45.  Governing unclaimed deposits for the purposes of section 147, including, but not limited to, i.  governing the payment of unpaid deposits by a credit union to the Authority, ii.  governing evidence of entitlement to transferred unclaimed amounts, and iii.  governing the interest payable on transferred unclaimed amounts or specifying that no interest is payable on transferred unclaimed amounts. 46.  Governing the restrictions on borrowing for the purposes of subsection 148 (2). 47.  Prescribing the meaning of “borrow” for the purposes of subsection 148 (3). 48.  Governing security interests in property for the purposes of section 149. 49.  Prescribing types of securities or property and prescribing conditions for the purposes of section 167. 50.  Governing meeting notices for the purposes of section 175. 51.  Governing annual meetings of credit unions for the purposes of section 176. 52.  Governing proposals for the purposes of section 179. 53.  Prescribing manners of voting for the purposes of section 182. 54.  Prescribing requirements for remote members’ meetings by-laws under section 185. 55.  Prescribing requirements for remote directors’ meetings by-laws under section 186. 56.  Prescribing information for the purposes of section 191 and establishing limitations or restrictions with respect to the use of that information. 57.  Prescribing conditions for the purposes of subsection 218 (3). 58.  Authorizing, controlling and requiring the use by credit unions of marks, signs, advertisements or devices indicating that deposits with credit unions are insured by the Authority. 59.  Prescribing a minimum number of members for the purposes of clause 241 (1) (c). 60.  Respecting the procedure to be followed in a winding-up for the purposes of subsection 247 (11). 2020, c. 36, Sched. 7, s. 285 (1); 2021, c. 40, Sched. 5, s. 18. Legislation Act, 2006 (2) Part III (Regulations) of the Legislation Act, 2006 does not apply to the Authority rules. 2020, c. 36, Sched. 7, s. 285 (2). Regulation prevails (3) If there is a conflict or an inconsistency between a regulation made by the Lieutenant Governor in Council under this Act and an Authority rule, the regulation prevails, but in all other respects an Authority rule has the same force and effect as a regulation. 2020, c. 36, Sched. 7, s. 285 (3). Transition, rules made under the Credit Unions and Caisses Populaires Act, 1994 (4) Rules made under section 321.0.4 of the Credit Unions and Caisses Populaires Act, 1994, as it read on the day before the day this section came into force, are deemed, on the day this section comes into force, to be rules made under this Act and those rules apply, with necessary modifications. 2020, c. 36, Sched. 7, s. 285 (4). Termination of certain Authority by-laws (5) The Authority may terminate the by-laws that were deemed under subsections 321.0.4 (4) and (5) of the Credit Unions and Caisses Populaires Act, 1994 to be Authority by-laws made in accordance with the requirements of the Financial Services Regulatory Authority of Ontario Act, 2016 at the time and in the manner that the Authority considers appropriate. 2020, c. 36, Sched. 7, s. 285 (5). Rule prevails (6) If there is a conflict or an inconsistency between a rule made by the Authority under this Act and a by-law described in subsection (5), the rule prevails. 2020, c. 36, Sched. 7, s. 285 (6). Section Amendments with date in force (d/m/y) 2021, c. 40, Sched. 5, s. 18 (1-3) - 01/03/2022 Approval of Forms, etc.