Marginal note:Public accountability statements
459.3 (1) A bank with equity of one billion dollars or more shall, in accordance with regulations made under subsection (4), annually publish a statement describing the contribution of the bank and its prescribed affiliates to the Canadian economy and society.
(2) A bank shall, at the prescribed time and place and in the prescribed form and manner, file a copy of the statement with the Commissioner.
Marginal note:Provision of statement to public
(3) A bank shall, at the prescribed time and place and in the prescribed form and manner, disclose the statement to its customers and to the public.
(4) The Governor in Council may make regulations prescribing
(a) the name, contents and form of the statement referred to in subsection (1) and the time within which, the place at which and the manner in which it must be prepared;
(b) affiliates of a bank referred to in subsection (1);
(c) the time and place at which and the form and manner in which a statement must be filed under subsection (2); and
(d) the time and place at which and the form and manner in which a statement mentioned in subsection (3) is to be disclosed, respectively, to a bank’s customers and to the public.
- 2001, c. 9, s. 125;
- 2012, c. 5, s. 50.
Marginal note:Regulations re disclosure
459.4 The Governor in Council may, subject to any other provisions of this Act relating to the disclosure of information, make regulations respecting the disclosure of information by banks or any prescribed class of banks, including regulations respecting
(a) the information that must be disclosed, including information relating to
(i) any product or service or prescribed class of products or services offered by them,
(ii) any of their policies, procedures or practices relating to the offer by them of any product or service or prescribed class of products or services,
(iii) anything they are required to do or to refrain from doing under a consumer provision, and
(iv) any other matter that may affect their dealings, or their employees’, representatives’, agents’ or other intermediaries’ dealings, with customers or the public;
(b) the time and place at which, the form and manner in which and the persons to whom information is to be disclosed; and
(c) the content and form of any advertisement by banks or any prescribed class of banks relating to any matter referred to in paragraph (a).
- 2001, c. 9, s. 125;
- 2007, c. 6, s. 37;
- 2012, c. 5, s. 51.
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