Bank Act

Contents

8,618 provisions, too many to show on one page. Open a part or section to read it with its history and connections, or search inside the text.

1. Whereas a strong and efficient banking sector is essential to economic growth and prosperity; Whereas a legislative framework that enables banks to compete effe
2. Short Title
   1. 1 Short title
3. Part I · Interpretation and Application
   1. Definitions
   2. Interpretation
   3. Application
4. Part II · Status and Powers
   1. 15 Corporate powers
   2. 15.1 Policies and procedures — integrity or security
   3. 16 No invalidity
   4. 17 By-law not necessary
   5. 18 No personal liability
   6. 19 No constructive notice
   7. 20 Authority of directors and officers
   8. 21 Sunset provision
5. Part III · Incorporation and Continuance
   1. Formalities of Incorporation
   2. Continuance
   3. Discontinuance
   4. Corporate Name
6. Part IV · Organization and Commencement
   1. Organization Meetings
   2. Membership in a Federal Credit Union
   3. General Provisions — Federal Credit Unions
   4. Commencement and Carrying on of Business
7. Part V · Capital Structure
   1. Share Capital
   2. Membership Capital
   3. Subordinated Indebtedness
   4. Security Certificates and Transfers
8. Part VI · Corporate Governance
   1. Shareholders and Members
   2. Proxies
   3. Restrictions on Voting
   4. Directors and Officers
   5. Fundamental Changes
   6. Corporate Records
   7. Financial Statements and Auditors
9. Part VII · Ownership
   1. Division I — Definitions and Interpretation
   2. Division II — Ownership of Banks
   3. Division V — Directions
10. Part VIII · Business and Powers
    1. General Business
    2. Miscellaneous
11. Part IX · Investments
    1. Definitions and Application
    2. General Constraints on Investments
    3. Subsidiaries and Equity Investments
    4. Exceptions and Exclusions
    5. Portfolio Limits
    6. Real Property
    7. Equities
    8. Aggregate Limit
    9. Miscellaneous
12. Part X · Capital, Liquidity and Capacity to Absorb Losses
    1. 484.1 Domestic systemically important bank
    2. 485 Adequacy of capital and liquidity
    3. 485.01 Prescribed conditions
    4. 485.02 Regulations and guidelines — disclosure of information
13. Part XI · Self-dealing
    1. Interpretation and Application
    2. Prohibited Related Party Transactions
    3. Permitted Related Party Transactions
    4. Restrictions on Permitted Transactions
    5. Disclosure
    6. Remedial Actions
14. Part XII · Foreign Banks
    1. Division 1 — Interpretation and Application
    2. Division 2 — General Prohibitions and Exceptions
    3. Division 3 — No Financial Establishment in Canada
    4. Division 4 — Financial Establishment in Canada
    5. Division 5 — Approvals
    6. Division 6 — Administration
    7. Division 7 — [Repealed, 2007, c. 6, s. 72]
    8. Division 8 — Transitional
15. Part XII.01 · Non-Application of the Investment Canada Act
    1. 522.34 Investment Canada Act
16. Part XII.1 · Authorized Foreign Banks
    1. Application
    2. Formalities of Authorization
    3. Commencement and Carrying on of Business in Canada
    4. Principal Office and Principal Officer
    5. Transfer of Liabilities
    6. Business and Powers
    7. Deposit Acceptance
    8. Unclaimed Balances
    9. Miscellaneous
    10. Deposit Requirements
    11. Financial Year
    12. Auditors
    13. Records
    14. Termination of Business in Canada
    15. Supervision
    16. Remedial Powers
17. Part XII.2 · Dealings with Customers and the Public
    1. Division 1 — Interpretation
    2. Division 2 — Fair and Equitable Dealings
    3. Division 3 — Disclosure and Transparency for Informed Decisions
    4. Division 4 — Redress
    5. Division 5 — Regulations
18. Part XIII · Regulation of Banks — Superintendent
    1. Supervision
    2. Remedial Powers
19. Part XIV · Regulation of Banks and External Complaints Bodies — Commissioner
    1. 657 Required information
    2. 658 Confidential information
    3. 659 Examination of banks
    4. 660 Power of Commissioner on inquiry
    5. 661 Compliance agreement
    6. 661.1 Commissioner’s directions
    7. 661.2 Court enforcement
20. Part XV · Bank Holding Companies
    1. Purpose
    2. Division 1 — Interpretation
    3. Division 2 — Status and Powers
    4. Division 3 — Incorporation and Continuance
    5. Division 4 — Organization and Commencement
    6. Division 5 — Capital Structure
    7. Division 6 — Corporate Governance
    8. Division 7 — Ownership
    9. Division 8 — Business and Powers
    10. Division 9 — Investments
    11. Division 10 — Adequacy of Capital and Liquidity
    12. Division 11 — Regulation of Bank Holding Companies
21. Part XVI · Administration
    1. Notices and Other Documents
    2. Approvals
    3. Exceptions to Generally Accepted Accounting Principles
    4. Short-term Exemption Order
    5. Orders to Exempt or Adapt
    6. Orders and Directives
    7. Applications to Superintendent
    8. Applications for Certain Approvals
    9. Appeals
    10. Regulations
    11. Delegation
22. Part XVI.1 · Whistleblowing
    1. 979.1 Definition of wrongdoing
    2. 979.2 Whistleblowing
    3. 979.3 Procedures — wrongdoing
    4. 979.4 Prohibition
23. Part XVII · Sanctions
    1. 980 Offence
    2. 980.1 False or misleading information
    3. 981 Undue preference to creditor
    4. 982 Failure to provide information
    5. 983 Use of name
    6. 984 Making false statements
    7. 985 Punishment
    8. 986 Liability of officers, directors, etc.
    9. 987 Limitation period
    10. 988 Effect of offence on contracts
    11. 989 Compliance or restraining order — bank
    12. 989.1 Production of information and documents
    13. 989.2 Superintendent’s directions
    14. 989.3 Court enforcement
    15. 990 Appeal of final order
    16. 991 Recovery and application of fines
24. Part XVIII · Documents in Electronic or Other Form
    1. 992 Definitions
    2. 993 Application
    3. 994 Use not mandatory
    4. 995 Consent and other requirements
    5. 996 Creation or provision of information
    6. 997 Creation of information in writing
    7. 998 Provision of information in writing
    8. 999 Multiple copies
    9. 1000 Registered mail
    10. 1001 Statutory declarations and affidavits
    11. 1002 Signatures
    12. 1003 Regulations — provision and receipt of documents
    13. 1004 Content and form of notices and documents
    14. 1005 Exemption
25. Schedule I · (Section 14)
26. Schedule II · (Section 14)
27. Schedule III · (Section 14.1)
28. Schedule IV · (Sections 2 and 14.11 and subsections 239(3.1), 251(3), 597(2.1), 816(1.1) and 828(3))
29. Schedule V · (Sections 14.12 and 992)
30. Related provisions
31. Amendments not in force