Bill C-379: An Act to amend the Bank Act (use of word “bank”, “banker” or “banking”)

Bill C-379 LEGISinfo First Reading Bilingual view XML PDF Cover Summary BILL C-379 First Session, Forty-second Parliament, 64-65-66 Elizabeth II, 2015-2016-2017 HOUSE OF COMMONS OF CANADA BILL C-379 An Act to amend the Bank Act (use of word “bank”, “banker” or “banking”) FIRST READING, October 23, 2017 Mr. Albas 421427 SUMMARY This enactment amends the Bank Act to authorize the use of the words “bank”, “banker” and “banking” by credit unions and caisses populaires that are provincially regulated. Available on the House of Commons website at the following address: www.ourcommons.ca 1st Session, 42nd Parliament, 64-65-66 Elizabeth II, 2015-2016-2017 HOUSE OF COMMONS OF CANADA BILL C-379 An Act to amend the Bank Act (use of word “bank”, “banker” or “banking”) 1991, c. 46 Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 1 Subsection 983(2.‍1) of the Bank Act is replaced by the following: Unauthorized use of word “bank”, “banker” or “banking” (2.‍1) Subject to the regulations and subsections (4) to (5.‍1), (6) and (12), every person, other than a bank or a credit union or caisse populaire incorporated or organ­ized by or under an Act of the legislature of a province, who uses the word “bank”, “banker” or “banking” to indicate or describe a business in Canada or any part of a business in Canada, without being authorized to do so by this Act or any other Act of Parliament, is guilty of an offence. Published under authority of the Speaker of the House of Commons Publication Explorer Publication Explorer ParlVU