Budget Implementation Act, 2018, No. 2 (S.C. 2018, c. 27)
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Assented to 2018-12-13
PART 4Various Measures (continued)
DIVISION 3Financial Sector (continued)
SUBDIVISION CPrivileged information
R.S., c. 18 (3rd Supp.), Part IOffice of the Superintendent of Financial Institutions Act
167 Section 37 of the Office of the Superintendent of Financial Institutions Act is amended by adding the following after subsection (2):
Marginal note:No use of privileged information
(3) The Superintendent shall not use privileged information as evidence in a proceeding in respect of a violation if the privileged information was disclosed to the Superintendent by
Marginal note:Definition of privileged information
(4) In subsection (3), privileged information means information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege.
1991, c. 45Trust and Loan Companies Act
168 The Trust and Loan Companies Act is amended by adding the following after section 504:
Marginal note:No waiver
504.01 (1) For greater certainty, the disclosure by a company — or by a person who controls a company or by an entity that is affiliated with a company — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
1991, c. 46Bank Act
169 The Act is amended by adding the following after section 608:
Marginal note:No waiver
608.1 (1) For greater certainty, the disclosure by an authorized foreign bank — or by a person who controls an authorized foreign bank or by an entity that is affiliated with an authorized foreign bank — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
170 The Act is amended by adding the following after section 638:
Marginal note:No waiver
638.1 (1) For greater certainty, the disclosure by a bank — or by a person who controls a bank or by an entity that is affiliated with a bank — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
171 The Act is amended by adding the following after section 956.1:
Marginal note:No waiver
956.2 (1) For greater certainty, the disclosure by a bank holding company — or by a person who controls a bank holding company or by an entity that is affiliated with a bank holding company — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
1991, c. 47Insurance Companies Act
172 The Insurance Companies Act is amended by adding the following after section 672.2:
Marginal note:No waiver
672.3 (1) For greater certainty, the disclosure by a company, society, foreign company or provincial company — or by a person who controls one or by an entity that is affiliated with one — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
173 The Act is amended by adding the following after section 999.1:
Marginal note:No waiver
999.2 (1) For greater certainty, the disclosure by an insurance holding company — or by a person who controls an insurance holding company or by an entity that is affiliated with an insurance holding company — to the Superintendent of any information that is subject to a privilege under the law of evidence, solicitor-client privilege or the professional secrecy of advocates and notaries or to litigation privilege does not constitute a waiver of any of those privileges or that secrecy.
Marginal note:No disclosure
(2) The Superintendent shall not disclose any information referred to in subsection (1) to any person whose powers, duties or functions include
DIVISION 4 2000, c. 17Proceeds of Crime (Money Laundering) and Terrorist Financing Act
174 Section 13 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act is repealed.
175 (1) Subsection 14(3) of the Act is replaced by the following:
Marginal note:Limitation
(3) Currency or monetary instruments may no longer be retained under subsection (1) if the officer is satisfied that the currency or monetary instruments have been reported under subsection 12(1).
(2) Paragraph 14(4)(b) of the Act is replaced by the following:
(b) that if, within that period, the currency or monetary instruments are reported under subsection 12(1), they may no longer be retained; and
DIVISION 5Greenhouse Gas Emissions Pricing and Other Topics Relating to Offshore Area
1987, c. 3Canada–Newfoundland and Labrador Atlantic Accord Implementation Act
176 Section 29.3 of the Canada–Newfoundland and Labrador Atlantic Accord Implementation Act is replaced by the following:
Marginal note:Remittance of fees and charges: shared
29.3 (1) Subject to subsection (2), one half of the amounts of the fees and charges obtained in accordance with regulations made under section 29.1 shall be paid to the credit of the Receiver General and the other half shall be paid to the credit of Her Majesty in right of the Province, in the time and manner prescribed under those regulations.
Marginal note:Remittance of fees and charges to the Province
(2) If the fees and charges referred to in subsection (1) are related to the powers, duties or functions of the Board for the administration of the pricing mechanisms for greenhouse gas emissions referred to in subsection 164.3(1), they shall be paid in their entirety to the credit of Her Majesty in right of the Province.
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