Bill C-8
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Appeals |
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Appeal to
Federal Court
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977. (1) An appeal lies to the Federal Court
from any direction of the Minister made under
subsection 402(1) or 915(1) .
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Powers
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(2) The Federal Court may, in an appeal
under subsection (1),
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Certificate
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(3) For the purposes of an appeal under
subsection (1), the Minister shall, at the
request of the bank, bank holding company or
person making the appeal, provide the bank,
bank holding company or person with a
certificate in writing setting out the direction
or decision appealed from and the reasons why
the direction or decision was made.
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Regulations |
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Power to
make
regulations
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978. The Governor in Council may make
regulations
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Delegation |
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Delegation
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979. The Minister may delegate any of the
Minister's powers, duties and functions under
this Act to any Minister of State appointed
under the Ministries and Ministers of State Act
to assist the Minister.
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PART XVII |
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SANCTIONS |
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Offence
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980. Every person who, without reasonable
cause, contravenes any provision of this Act or
the regulations is guilty of an offence.
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Undue
preference to
creditor
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981. Every director, officer or employee of
a bank or an authorized foreign bank who
wilfully gives or concurs in giving to any
creditor of the bank or authorized foreign bank
any fraudulent, undue or unfair preference
over other creditors, by giving security to the
creditor, by changing the nature of the
creditor's claim or otherwise, is guilty of an
offence.
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Failure to
provide
information
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982. Every person who, without reasonable
cause, refuses or fails to comply with a
requirement made under paragraph 643(2)(b)
or 957(2)(b) is guilty of an offence.
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Use of name
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983. (1) Except to the extent permitted by
the regulations, every person who uses the
name of a bank or of a bank holding company
in a prospectus, offering memorandum,
takeover bid circular, advertisement for a
transaction related to securities or in any other
document in connection with a transaction
related to securities is guilty of an offence.
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Unauthorized
use of title
``bank'', etc.
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(2) Subject to the regulations and
subsections (4) to (6.1) and (10) to (12) , every
entity that acquires, adopts or retains a name
that, in any language, includes the word
``bank'', ``banker'' or ``banking'', either alone
or in combination with other words, or any
word or words of import equivalent thereto,
and every person who, in any language, uses
the word ``bank'', ``banker'' or ``banking'',
either alone or in combination with other
words, or any word or words of import
equivalent thereto, 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.
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Unauthorized
use of the
name of a
bank holding
company
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(3) Subject to the regulations and
subsections (7) to (9.1), every entity that
acquires, adopts or retains, in any language,
the name of a bank holding company and
every person who, in any language, uses the
name of a bank holding company 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.
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Permitted use
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(4) No person commits an offence who uses
the word ``bank'', ``banker'' or ``banking''
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Permitted use
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(5) No subsidiary of a bank commits an
offence by reason only that it uses the name of
the bank of which it is a subsidiary in its
corporate name or a name under which it
carries on business or by reason only that it
uses any identifying mark, logogram or
insignia of that bank in carrying on its
business.
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Permitted use
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(5.1) No entity in which a bank has a
substantial investment commits an offence by
reason only that it uses the name of the bank
in its corporate name or a name under which
it carries on business or by reason only that it
uses any identifying mark, logogram or
insignia of that bank in carrying on its business
if it does so with the approval of the Minister
and subject to terms and conditions that the
Minister may impose.
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Permitted use
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(6) No financial institution that was
controlled by a bank on June 25, 1999 and that
had a name that included the word ``bank'',
``banker'' or ``banking'' on that day commits
an offence by reason only that it uses that word
in its name or in a name under which it carries
on business if the financial institution is a
subsidiary of a bank holding company that
controls the bank.
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Permitted use
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(6.1) No financial institution in which a
bank had a substantial investment on June 25,
1999 and that had a name that included the
word ``bank'', ``banker'' or ``banking'' on that
day commits an offence by reason only that it
uses that word in its name or in a name under
which it carries on business if the financial
institution is an entity in which the bank or a
bank holding company that controls the bank
has a substantial investment and the financial
institution uses that word with the approval of
the Minister and subject to terms and
conditions that the Minister may impose.
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Permitted use
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(7) No subsidiary of a bank holding
company commits an offence by reason only
that it uses the name of the bank holding
company in the subsidiary's corporate name
or in a name under which it carries on
business, so long as, if the subsidiary is not a
bank or a subsidiary of the bank, it does not use
the word ``bank'', ``banker'' or banking'' in its
corporate name or in a name under which it
carries on business.
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Permitted use
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(7.1) No entity in which a bank holding
company has a substantial investment
commits an offence by reason only that it uses
the name of the bank holding company in its
corporate name or in a name under which it
carries on business, so long as
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Permitted use
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(8) No subsidiary of a bank holding
company commits an offence by reason only
that it uses any identifying mark, logogram or
insignia of the bank holding company in
carrying on the subsidiary's business, so long
as, if the subsidiary is not a bank or a
subsidiary of the bank, it does not use any
identifying mark, logogram or insignia that
includes the word ``bank'', ``banker'' or
banking''.
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Permitted use
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(8.1) No entity in which a bank holding
company has a substantial investment
commits an offence by reason only that it uses
any identifying mark, logogram or insignia of
the bank holding company in carrying on its
business, so long as
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Permitted use
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(9) No subsidiary of a bank holding
company commits an offence by reason only
that it uses the name of the bank holding
company in a description of its corporate
relationship to the bank holding company.
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Permitted use
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(9.1) No entity in which a bank holding
company has a substantial investment
commits an offence by reason only that it uses
the name of the bank holding company in a
description of its corporate relationship to the
bank holding company if it does so with the
approval of the Minister and subject to terms
and conditions that the Minister may impose.
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Permitted use
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(10) No Canadian entity that is an entity
associated with a foreign bank within the
meaning of section 507 commits an offence by
reason only that it uses the name of the foreign
bank or any identifying mark, logogram or
insignia of the foreign bank or the name of a
prescribed entity associated with a foreign
bank within the meaning of section 507 or any
identifying mark, logogram or insignia of any
such entity, so long as it does not use, in any
language, the word ``bank'', ``banker'' or
``banking'' and so long as
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Permitted use
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(10.1) No Canadian entity in which a
foreign bank or an entity associated with a
foreign bank within the meaning of section
507 has a substantial investment commits an
offence by reason only that it uses the name of
the foreign bank or any identifying mark,
logogram or insignia of the foreign bank or the
name of a prescribed entity associated with a
foreign bank within the meaning of section
507 or any identifying mark, logogram or
insignia of that prescribed entity, so long as it
does not use, in any language, the word
``bank'', ``banker'' or ``banking'' and so long
as
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Permitted use
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(11) Subject to subsection (12), no foreign
bank that carries on a business or activity
referred to in section 514, 522.05, 522.18 or
522.19 and no entity incorporated or formed
by or under the laws of a country other than
Canada that carries on a business or activity
referred to in any of those provisions and that
is an entity associated with a foreign bank
within the meaning of section 507 commits an
offence by reason only that it uses
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so long as it does not use, in any language, the
word ``bank'', ``banker'' or ``banking''.
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Permitted use
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(12) A foreign bank, or an entity associated
with a foreign bank, that is referred to in
subsection (11) may use the word ``bank'',
``banker'' or ``banking'' in prescribed
circumstances if it does so in accordance with
prescribed terms and conditions.
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Deemed use
of ``bank'',
etc.
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(13) For the purposes of this section, the
following are deemed to be a use of the word
``bank'', ``banker'' or ``banking``:
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Deeming
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(14) For the purposes of this section, the use
of the name of a bank holding company is
deemed to include the use of any identifying
mark, logogram, insignia or name of the bank
holding company or a name substantially
similar to any such name.
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Deeming
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(15) For the purposes of this section, the
identifying mark, logogram or insignia of an
entity is deemed to include the logo, initials or
acronym of that entity.
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Regulations
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(16) The Governor in Council may make
regulations for the purposes of subsections (1)
to (3) or paragraph (4)(a), (f), (g) or (h).
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Making false
statements
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984. (1) Every person is guilty of an offence
who wilfully makes a false statement
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Wilfully
disposing of
or
withholding
goods covered
by security
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(2) Every person is guilty of an offence who,
having possession or control of property
mentioned in or covered by a warehouse
receipt, bill of lading or any security given to
a bank under section 426 or 427 or to an
authorized foreign bank under either of those
sections as incorporated by section 555, and
having knowledge of the receipt, bill of lading
or security, without the consent of the bank or
authorized foreign bank in writing before the
loan, advance, debt or liability secured by it
has been fully paid
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