Bank Act

Marginal note:Return on unclaimed bills of exchange

• 603 (1) An authorized foreign bank shall, within sixty days after the end of each calendar year, provide the Superintendent with a return, in the form that the Superintendent may determine, as of the end of that calendar year, in respect of all negotiable instruments (including instruments drawn by one branch of the authorized foreign bank on another of its branches but not including instruments issued in payment of a dividend on the capital of the authorized foreign bank) payable in Canada in Canadian currency that have been issued, certified or accepted by the authorized foreign bank at branches of the authorized foreign bank and for which no payment has been made for a period of nine years or more calculated from the date of issue, certification, acceptance or maturity, whichever is the latest, until the date of the return.

• Marginal note:Content of return

  (2) The return shall show, in so far as is known to the authorized foreign bank,

  • (a) the name of each person to whom or at whose request each instrument was issued, certified or accepted;

  • (b) the recorded address of each of those persons;

  • (c) the name of the payee of each instrument;

  • (d) the amount and date of each instrument;

  • (e) the name of the place where each instrument was payable; and

  • (f) the branch of the authorized foreign bank at which each instrument was issued, certified or accepted.

• Marginal note:Amounts under one hundred dollars

  (3) Where the amount of an instrument is less than one hundred dollars, the authorized foreign bank may omit from the return the particulars required by subsection (2) in respect of the instrument.

• Marginal note:Money orders

  (4) An authorized foreign bank may omit from a return the particulars required by subsection (2) in respect of any money order in respect of which subsection (1) applies.