Meeting
details
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(3) The Commissioner may establish rules
for convening a meeting referred to in
subsection (2) and for its conduct.
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Not statutory
instruments
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(4) The Statutory Instruments Act does not
apply to rules established under subsection
(3).
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Regulations
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(5) The Governor in Council may make
regulations prescribing
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Regulations re
disclosure
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385.28 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 retail associations or any
prescribed class of retail associations,
including regulations respecting
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Bank Act
security
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385.29 A bank that is continued as an
association under this Act that, immediately
before that continuance, held any outstanding
security pursuant to section 426 or 427 of the
Bank Act may continue to hold the security for
the life of the loan to which the security relates
and all the provisions of the Bank Act relating
to the security and its enforcement continue to
apply to the association as though it were a
bank.
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Transmission
in case of
death
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385.3 (1) If the transmission of a debt owing
by a retail association by reason of a deposit,
of property held by a retail association as
security or for safe-keeping or of rights with
respect to a safety deposit box and property
deposited therein takes place because of the
death of a person, the delivery to the
association of
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is sufficient justification and authority for
giving effect to the transmission in accordance
with the claim.
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Transmission
in case of
death
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(2) Nothing in subsection (1) shall be
construed to prevent a retail association from
refusing to give effect to a transmission until
there has been delivered to the association
such documentary or other evidence of or in
connection with the transmission as it may
deem requisite.
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Branch of
account with
respect to
deposits
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385.31 (1) For the purposes of this Act, the
branch of account with respect to a deposit
account is
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Where debt
payable
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(2) The amount of any debt owing by a retail
association by reason of a deposit in a deposit
account in the association is payable to the
person entitled thereto only at the branch of
account and the person entitled thereto is not
entitled to demand payment or to be paid at
any other branch of the association.
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Where debt
payable
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(3) Despite subsection (2), a retail
association may permit, either occasionally or
as a regular practice, the person to whom the
association is indebted by reason of a deposit
in a deposit account in the association to
withdraw moneys owing by reason of that
deposit at a branch of the association other
than the branch of account or to draw cheques
or other orders for the payment of such
moneys at a branch other than the branch of
account.
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Situs of
indebtedness
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(4) The indebtedness of a retail association
by reason of a deposit in a deposit account in
the association shall be deemed for all
purposes to be situated at the place where the
branch of account is situated.
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Effect of writ,
etc.
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385.32 (1) Subject to subsections (3) and
(4), the following documents are binding on
property belonging to a person and in the
possession of an association, or on money
owing to a person by reason of a deposit
account in an association, only if the
document or a notice of it is served at the
branch of the association that has possession
of the property or that is the branch of account
in respect of the deposit account, as the case
may be:
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Notices
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(2) Any notification sent to an association
with respect to a customer of the association,
other than a document referred to in
subsection (1) or (3), constitutes notice to the
association and fixes the association with
knowledge of its contents only if sent to and
received at the branch of the association that
is the branch of account of an account held in
the name of that customer.
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Exception
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(3) Subsections (1) and (2) do not apply in
respect of an enforcement notice in respect of
a support order or support provision if
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Time of
application
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(4) Subsection (3) does not apply in respect
of an enforcement notice in respect of a
support order or support provision until the
second business day following the day of
service referred to in that subsection.
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Regulations
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(5) The Governor in Council may make
regulations
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Definitions
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(6) The following definitions apply in this
section.
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``designated
office'' « bureau désigné »
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``designated office'' means a place designated
in accordance with regulations made for the
purpose of subsection (3).
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``enforcement
notice'' « avis d'exécution »
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``enforcement notice'', in respect of a support
order or support provision, means a
garnishee summons or other instrument
issued under the laws of a province for the
enforcement of the support order or support
provision.
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``support
order'' « ordonnance alimentaire »
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``support order'' means an order or judgment
or interim order or judgment for family
financial support.
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``support
provision'' « disposition alimentaire »
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``support provision'' means a provision of an
agreement relating to the payment of
maintenance or family financial support.
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1993, c. 34,
s. 55(F);
1997, c. 15,
ss. 140 to 149;
1999, c. 28,
s. 116
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314. Sections 386 to 408 of the Act are
replaced by the following:
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Definitions
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386. (1) The following definitions apply in
this Part.
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``commercial
loan'' « prêt commercial »
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``commercial loan'' means
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``factoring
entity'' « entité s'occupant d'affacturage »
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``factoring entity'' means a factoring entity as
defined in the regulations.
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