Bill C-395
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2nd Session, 35th Parliament, 45-46 Elizabeth II, 1996-97
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The House of Commons of Canada
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BILL C-395 |
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An Act to amend the Bank Act (consumers'
protection)
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| 1991, cc. 46,
47, 48; 1992,
cc. 27, 51;
1993, cc. 6,
28, 34, 44;
1994, cc. 24,
26, 47; 1996,
c. 6
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1. The Bank Act is amended by adding the
following after section 442:
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| Disclosure of
exceptional
benefits
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442.1 Where a bank is aware that a
customer of the bank belongs to a class of
individuals that, whether by law or by policy
of the bank, is entitled to any benefit offered
by the bank that is not available to all
customers of the bank, the bank shall, at the
prescribed time and in the prescribed manner,
give notice to the customer of the entitlement.
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| Disclosure re
inactive
accounts
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442.2 No bank shall charge any fee against
an account that has not been active for 60 or
more days unless the bank, at least 30 days
prior to charging the fee, sends notice by
ordinary mail to the holder of the account of
its intention to charge the fee.
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2. Section 443 of the Act is replaced by the
following:
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| Disclosure
regulations
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443. The Governor in Council may make
regulations respecting
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