Bill C-8
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Complaints |
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Procedures
for dealing
with
complaints
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486. (1) A company shall
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Procedures to
be filed with
Commission- er
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(2) A company shall file with the
Commissioner a copy of its procedures
established under paragraph (1)(a) .
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Obligation to
be member of
complaints
body
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486.1 In any province, if there is no law of
the province that makes a company subject to
the jurisdiction of an organization that deals
with complaints made by persons having
requested or received products or services in
the province from a company, the company
shall be a member of an organization that is
not controlled by it and that deals with those
complaints that have not been resolved to the
satisfaction of the persons under procedures
established by companies under paragraph
486(1)(a).
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Information
on contacting
Agency
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487. (1) A company shall, in the prescribed
manner, provide a person requesting or
receiving a product or service from it with
prescribed information on how to contact the
Agency if the person has a complaint about an
arrangement referred to in subsection 482(3),
a payment, credit or charge card , the
disclosure of or manner of calculating the cost
of borrowing in respect of a loan or an advance
on the security or against the cash surrender
value of a policy, or about any other obligation
of the company under a consumer provision.
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Report
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(2) The Commissioner shall prepare a
report, to be included in the report referred to
in section 34 of the Financial Consumer
Agency of Canada Act , respecting
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(2) If this section comes into force before
paragraph 486(1)(a) and subsection 487(1)
of the Act, as enacted, respectively, by
sections 260 and 261 of An Act to amend
certain laws relating to financial institutions,
being chapter 15 of the Statutes of Canada,
1997, come into force, then sections 260 and
261 of that Act are repealed.
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425. The Act is amended by adding the
following after section 489:
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Public
accountability
statements
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489.1 (1) A company with equity of $1
billion or more shall, in accordance with
regulations made under subsection (4),
annually publish a statement describing the
contribution of the company and its prescribed
affiliates to the Canadian economy and
society.
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Filing
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(2) A company shall, in the manner and at
the time prescribed, file a copy of the
statement with the Commissioner.
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Provision of
statement to
public
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(3) A company shall, in the manner and at
the time prescribed, disclose the statement to
its customers and to the public.
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Regulations
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(4) The Governor in Council may make
regulations prescribing
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Regulations re
disclosure
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489.2 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 companies or any prescribed
class of companies, including regulations
respecting
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1991, c. 47,
s. 760; 1993,
c. 34,
ss. 81(F), 82,
83; 1997, c.
15, ss. 264 to
274; 1999, c.
28, ss. 122 to
124
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426. Sections 490 to 513 of the Act are
replaced by the following:
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Definitions
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490. (1) The definitions in this subsection
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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``finance
entity'' « entité s'occupant de finance- ment »
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``finance entity'' means a finance entity as
defined in the regulations.
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``financial
leasing
entity'' « entité s'occupant de crédit-bail »
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``financial leasing entity'' means an entity
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``loan'' « prêt » ou « emprunt »
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``loan'' includes an acceptance, advance on
the security of or against the cash surrender
value of a policy, endorsement or other
guarantee, a deposit, a financial lease, a
conditional sales contract, a repurchase
agreement and any other similar
arrangement for obtaining funds or credit
but does not include investments in
securities.
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``motor
vehicle'' « véhicule à moteur »
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``motor vehicle'' means a motorized vehicle
designed to be used primarily on a public
highway for the transportation of persons or
things, but does not include
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``mutual fund
distribution
entity'' « courtier de fonds mutuels »
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``mutual fund distribution entity'' means an
entity whose principal activity is acting as
a selling agent of units, shares or other
interests in a mutual fund and acting as a
collecting agent in the collection of
payments for any such interests if
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``mutual fund
entity'' « entité s'occupant de fonds mutuels »
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``mutual fund entity'' means an entity
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``participa- ting share'' « action partici- pante »
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``participating share'' means a share of a body
corporate that carries the right to participate
in the earnings of the body corporate to an
unlimited degree and to participate in a
distribution of the remaining property of the
body corporate on dissolution.
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``permitted
entity'' « entité admissible »
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``permitted entity'' means an entity in which
a company is permitted to acquire a
substantial investment under section 495.
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