Contents
His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 531(1) and sections 539.02, 539.04, 539.05, 539.07, 539.11 and 539.12 of the Trust and Loan Companies Act, hereby makes the annexed Electronic Documents (Trust and Loan Companies) Regulations.notenotenote
Interpretation
Definition
1#
In these Regulations, Act means the Trust and Loan Companies Act.
Non-application
Electronic Documents
Documents Provided by the Originator
Electronic Documents Through Website
4#
(1)For the purpose of paragraph 539.04(1)(b) of the Act, an electronic document need not be provided to the designated information system if
(a)the electronic document is posted on or made available through a generally accessible electronic source, such as a website; and
(b)the addressee is provided in writing with a notice, in paper or electronic form, of the availability and location of the electronic document.
(2)Subsection (1) does not apply to a notice, document or other information referred to in section 8.
Consent to Provision of an Electronic Document
5#
(1)For the purpose of paragraph 539.04(1)(c) of the Act, the addressee may consent in writing, in paper or electronic form, or orally.
(2)Before an addressee consents in writing, the originator or the person acting for the originator must notify the addressee in writing, in paper or electronic form,
(a)that the addressee may revoke their consent at any time;
(b)that the addressee is responsible for informing the originator of any changes the addressee makes to the designated information system including any changes made to the contact information related to the designated information system;
(c)that any electronic documents will be retained for the period specified in the notice and made available to the addressee and that the addressee is responsible for retaining a copy of the document; and
(d)of when the consent takes effect.
(3)[Repealed, SOR/2020-47, s. 40] (repealed)
(4)If the addressee’s consent is provided in writing, in paper or electronic format, it must include the name of the information system designated by the addressee for the receipt of the electronic document and a list, in paper or electronic form, of the notices, documents or other information that is covered by the consent.
(5)If the addressee’s consent is provided orally, the originator or the person acting for the originator shall provide the addressee in writing, in paper or electronic form, with the information referred to in subsection (2) and confirm the information referred to in subsection (4).
(6)If the addressee is providing consent for the provision of an electronic document on a one-time basis, subsection (2) does not apply.
Revocation
6#
(1)An addressee may revoke their consent in writing, in paper or electronic form, or orally.
(2)If the addressee revokes their consent, the originator or the person acting for the originator must provide the addressee with confirmation, in writing, in paper or electronic form, of the revocation specifying when revocation of consent takes effect.
(3)[Repealed, SOR/2020-47, s. 41] (repealed)
Provision and Receipt
Several Addressees
Specific Address
Document Considered Provided
Believed Not To Be Received
10#
(1)In the case of a document provided under section 9, the originator or the person acting for the originator must mail a paper copy of the electronic document to the addressee’s recorded address if they have reason to believe that the addressee may not have received it.
(2)Subsection (1) does not affect when the electronic document is considered to have been provided under section 9.
Document Considered Received
11#
An electronic document is considered to have been received
(a)when it enters the information system designated by the addressee;
(b)when it is posted on or made available through the secure website of the originator; or
(c)when the notice referred to in paragraph 4(1)(b) is received by the addressee.
Electronic Signature
Coming into Force
Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.