Cooperative Credit Associations Act (S.C. 1991, c. 48)

Marginal note:Regulations respecting the holding of funds

385.251 The Governor in Council may make regulations respecting the maximum period during which a retail association may hold funds in respect of specified classes of cheques or other instruments that are deposited into an account at a branch or prescribed point of service in Canada before permitting the customer in whose name the account is kept to access the funds.

Marginal note:Regulations — activities

385.252 The Governor in Council may make regulations respecting any matters involving a retail association’s dealings, or its employees’ or representatives’ dealings, with customers or the public, including

• (a) what a retail association may or may not do in carrying out any of the activities in which it is permitted to engage, or in providing any of the services that it may provide, under paragraph 375.1(1)(a) and subparagraphs 376(1)(i)(i) to (iii) and any ancillary, related or incidental activities or services; and

• (b) the time and place at which and the form and manner in which any of those activities are to be carried out or any of those services are to be provided.

Marginal note:Regulations re customer information

385.26 The Governor in Council may make regulations

• (a) requiring a retail association to establish procedures regarding the collection, retention, use and disclosure of any information about its customers or any class of customers;

• (b) requiring a retail association to establish procedures for dealing with complaints made by a customer about the collection, retention, use or disclosure of information about the customer;

• (c) respecting the disclosure by a retail association of information relating to the procedures referred to in paragraphs (a) and (b);

• (d) requiring a retail association to designate the officers and employees of the association who are responsible for

  • (i) implementing the procedures referred to in paragraph (b), and

  • (ii) receiving and dealing with complaints made by a customer of the association about the collection, retention, use or disclosure of information about the customer;

• (e) requiring a retail association to report information relating to

  • (i) complaints made by customers of the association about the collection, retention, use or disclosure of information, and

  • (ii) the actions taken by the association to deal with the complaints; and

• (f) defining “information”, “collection” and “retention” for the purposes of paragraphs (a) to (e) and the regulations made under those paragraphs.

Marginal note:Notice of branch closure

• 385.27 (1) Subject to regulations made under subsection (5), a member association with a branch in Canada at which it, through a natural person, opens retail deposit accounts and disburses cash to customers, shall give notice in accordance with those regulations before closing that branch or having it cease to carry on either of those activities.

• Marginal note:Pre-closure meeting

  (2) After notice is given but before the branch is closed or ceases to carry on the activities, the Commissioner shall, in prescribed situations, require the member association to convene and hold a meeting between representatives of the member association, representatives of the Agency and interested parties in the vicinity of the branch in order to exchange views about the closing or cessation of activities, including, but not limited to, alternative service delivery by the member association and measures to help the branch’s customers adjust to the closing or cessation of activities.

• Marginal note:Meeting details

  (3) The Commissioner may establish rules for convening a meeting referred to in subsection (2) and for its conduct.

• Marginal note:Not statutory instruments

  (4) The Statutory Instruments Act does not apply to rules established under subsection (3).

• Marginal note:Regulations

  (5) The Governor in Council may make regulations prescribing

  • (a) the time and place at which and the form and manner in which notice shall be given under subsection (1), the persons to whom it shall be given and the information to be included, the time, place, form and manner being permitted to vary according to circumstances specified in the regulations;

  • (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 time and place at which and the form and manner 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).

Marginal note: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, or their employees’ or representatives’ dealings, with customers or the public;

• (b) the time and place at which, the form and manner 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).

Marginal note: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.

Marginal note: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.

• Marginal note: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.

Marginal note: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.

• Marginal note: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.

• Marginal note: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.

• Marginal note: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.

Marginal note: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.

• Marginal note: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.

• Marginal note:Notices: Minister of National Revenue

  (2.1) Despite subsections (1) and (2), a notice, demand, order or other document issued with respect to a customer of an association constitutes notice to the association and fixes the association with knowledge of its contents and, where applicable, is binding on property belonging to the customer and in the possession of the association or on money owing to the customer by reason of an account in the association, if it is sent to the branch of the association referred to in subsection (1) or (2), an office of the association referred to in paragraph (3)(a) or any other office agreed to by the association and the Minister of National Revenue and it relates to

  • (a) the administration of an Act of Parliament by the Minister of National Revenue; or

  • (b) the administration of an Act of the legislature of a province or legislation made by an aboriginal government, where the Minister or the Minister of National Revenue has entered into a tax collection agreement under an Act of Parliament with the government of the province or the aboriginal government.

• Marginal note: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.

• Marginal note: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.

• Marginal note: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.

• Marginal note:Definitions

  (6) The following definitions apply in this section.

  designated office

  designated office means a place designated in accordance with regulations made for the purpose of subsection (3). (bureau désigné)

  enforcement notice

  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. (avis d’exécution)

  support order

  support order means an order or judgment or interim order or judgment for family financial support. (ordonnance alimentaire)

  support provision

  support provision means a provision of an agreement relating to the payment of maintenance or family financial support. (disposition alimentaire)