Not statutory instruments	(4) The Statutory Instruments Act does not apply to rules established under subsection (3).
Regulations	(5) The Governor in Council may make regulations prescribing
	(a) the manner and time, which may vary according to circumstances specified in the regulation, in which notice shall be given under subsection (1), to whom it shall be given and the information to be included;
	(b) circumstances in which a member association is not required to give notice under subsection (1), circumstances in which the Commissioner may exempt a member association from the requirement to give notice under that subsection, and circumstances in which the Commissioner may vary the manner and time in which notice is required to be given under any regulation made under paragraph (a); and
	(c) circumstances in which a meeting may be convened under subsection (2).
Regulations re disclosure	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
	(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 with customers or the public;
	(b) the manner, place and time in which and the persons to whom information is to be disclosed; and
	(c) the content and form of any advertisement, by retail associations or any prescribed class of retail associations, relating to any matter referred to in paragraph (a).
Bank Act security	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.
Transmission in case of death	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
	(a) an affidavit or declaration in writing in a form satisfactory to the association signed by or on behalf of a person claiming by virtue of the transmission stating the nature and effect of the transmission, and
	(b) one of the following documents, namely,
	(i) when the claim is based on a will or other testamentary instrument or on a grant of probate thereof or on such a grant and letters testamentary or other document of like import or on a grant of letters of administration or other document of like import, purporting to be issued by any court of authority in Canada or elsewhere, an authenticated copy or certificate thereof under the seal of the court or authority without proof of the authenticity of the seal or other proof, or
	(ii) when the claim is based on a notarial will, an authenticated copy thereof,
	is sufficient justification and authority for giving effect to the transmission in accordance with the claim.
Transmission in case of death	(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.
Branch of account with respect to deposits	385.31 (1) For the purposes of this Act, the branch of account with respect to a deposit account is
	(a) the branch the address or name of which appears on the specimen signature card or other signing authority signed by a depositor with respect to the deposit account or that is designated by an agreement between the retail association and the depositor at the time of opening of the deposit account; or
	(b) if no branch has been identified or agreed on as provided in paragraph (a), the branch that is designated as the branch of account with respect thereto by the retail association by notice in writing to the depositor.
Where debt payable	(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.
Where debt payable	(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.
Situs of indebtedness	(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.
Effect of writ, etc.	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:
	(a) a writ or process originating a legal proceeding or issued in or pursuant to a legal proceeding;
	(b) an order or injunction made by a court;
	(c) an instrument purporting to assign, perfect or otherwise dispose of an interest in the property or the deposit account; or
	(d) an enforcement notice in respect of a support order or support provision.
Notices	(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.
Exception	(3) Subsections (1) and (2) do not apply in respect of an enforcement notice in respect of a support order or support provision if
	(a) the enforcement notice, accompanied by a written statement containing the information required by the regulations, is served at an office of an association designated in accordance with the regulations in respect of a province; and
	(b) the order or provision can be enforced under the laws of that province.
Time of application	(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.
Regulations	(5) The Governor in Council may make regulations
	(a) respecting the designation by an association, for the purpose of subsection (3), of a place in any province for the service of enforcement notices in respect of support orders and support provisions;
	(b) prescribing the manner in which an association shall publicize the locations of designated offices of the association; and
	(c) respecting the information that must accompany enforcement notices in respect of support orders and support provisions.
Definitions	(6) The following definitions apply in this section.
``designated office'' « bureau désigné »	``designated office'' means a place designated in accordance with regulations made for the purpose of subsection (3).
``enforcement notice'' « avis d'exécution »	``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.
``support order'' « ordonnance alimentaire »	``support order'' means an order or judgment or interim order or judgment for family financial support.
``support provision'' « disposition alimentaire »	``support provision'' means a provision of an agreement relating to the payment of maintenance or family financial support.
1993, c. 34, s. 55(F); 1997, c. 15, ss. 140 to 149; 1999, c. 28, s. 116	314. Sections 386 to 408 of the Act are replaced by the following:
Definitions	386. (1) The following definitions apply in this Part.
``commercial loan'' « prêt commercial »	``commercial loan'' means
	(a) any loan made or acquired by an association, other than
	(i) a loan to a natural person in an amount of two hundred and fifty thousand dollars or less,
	(ii) a loan to the Government of Canada, the government of a province, a municipality, or to any agency thereof, or to the government of a foreign country or any political subdivision thereof, or any agency thereof, or to a prescribed international agency,
	(iii) a loan that is guaranteed by, or fully secured by securities issued by, a government, a municipality or an agency referred to in subparagraph (ii),
	(iv) a loan that is secured by a mortgage on real property, where
	(A) the mortgage is on residential property and the amount of the loan, together with the amount then outstanding of any mortgage having an equal or prior claim against the property, does not exceed 75 % of the value of the property at the time the loan is made or acquired, or
	(B) the mortgage is on real property other than residential property and
	(I) the amount of the loan, together with the amount then outstanding of any mortgage having an equal or prior claim against the property, does not exceed 75 % of the value of the property at the time the loan is made or acquired, and
	(II) at the time the loan is made or acquired the property provides an annual income sufficient to pay all annual expenses related to the property, including the payments owing under the mortgage and the mortgages having an equal or prior claim against the property,
	(v) a loan that is secured by a mortgage on real property, where
	(A) the mortgage is on residential property and
	(I) the amount of the loan, together with the amount then outstanding of any mortgage having an equal or prior claim against the property, exceeds 75 % of the value of the property at the time the loan is made or acquired, and
	(II) repayment of the amount of the loan that exceeds 75 % of the value of the property is guaranteed or insured by a government agency or private insurer approved by the Superintendent, or
	(B) the mortgage is on real property other than residential property and
	(I) the amount of the loan, together with the amount then outstanding of any mortgage having an equal or prior claim against the property, exceeds 75 % of the value of the property at the time the loan is made or acquired,
	(II) repayment of the amount of the loan that exceeds 75 % of the value of the property is guaranteed or insured by a government agency or private insurer approved by the Superintendent, and
	(III) at the time the loan is made or acquired, the property provides an annual income sufficient to pay all annual expenses related to the property, including the payments owing under the mortgage and the mortgages having an equal or prior claim against the property,
	(vi) a loan that
	(A) consists of a deposit made by the association with a financial institution,
	(B) is fully secured by a deposit with any financial institution, including the association,
	(C) is fully secured by debt obligations guaranteed by any financial institution other than the association, or
	(D) is fully secured by a guarantee of a financial institution other than the association,
	(vii) a loan to another association under prescribed terms and conditions, if any are prescribed, or
	(viii) a loan to any prescribed entity under prescribed terms and conditions, if any are prescribed;
	(b) an investment in debt obligations, other than
	(i) debt obligations that are
	(A) guaranteed by any financial institution other than the association,
	(B) fully secured by deposits with any financial institution, including the association, or
	(C) fully secured by debt obligations that are guaranteed by any financial institution other than the association,
	(ii) debt obligations issued by the Government of Canada, the government of a province, a municipality, or by any agency thereof, or by the government of a foreign country or any political subdivision thereof, or by any agency thereof, or by a prescribed international agency,
	(iii) debt obligations that are guaranteed by, or fully secured by securities issued by, a government, a municipality or an agency referred to in subparagraph (ii),
	(iv) debt obligations that are widely distributed, as that expression is defined by the regulations,
	(v) debt obligations that are issued by another association under prescribed terms and conditions, if any are prescribed,
	(vi) debt obligations of an entity controlled by the association, or
	(vii) debt obligations of a prescribed entity that are issued under prescribed terms and conditions, if any are prescribed; and
	(c) an investment in shares of a body corporate or ownership interests in an unincorporated entity, other than
	(i) shares or ownership interests that are widely distributed, as that expression is defined by the regulations,
	(ii) shares or ownership interests of an entity controlled by the association, or
	(iii) participating shares.
``factoring entity'' « entité s'occupant d'affacturage »	``factoring entity'' means a factoring entity as defined in the regulations.
``finance entity'' « entité s'occupant de financement »	``finance entity'' means a finance entity as defined in the regulations.