Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002
SOR/2002-337
OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS ACT
Registration 2002-09-24
Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002
P.C 2002-1561 2002-09-24
Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 23.1Footnote a and 38Footnote b of the Office of the Superintendent of Financial Institutions ActFootnote c, hereby makes the annexed Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002.
Return to footnote aS.C. 1999, c. 28, s. 131
Return to footnote bS.C. 2001, c. 9, s. 477
Return to footnote cR.S., c. 18 (3rd Supp.), Part I
Interpretation
1 The words and expressions used in these Regulations have the same meaning as in the Bank Act, the Cooperative Credit Associations Act, the Insurance Companies Act, and the Trust and Loan Companies Act, as the case may be.
Charges
2 The charge to be paid for the consideration by the Superintendent of an application to obtain a document described in column 1 of Schedule 1 or for any other service described in that column, is the amount set out in column 2.
3 The charge to be paid for a service described in column 1 of Schedule 2 is the amount set out in column 2.
4 The charge to be paid for actuarial services provided by the Chief Actuary of the Office of the Superintendent of Financial Institutions in respect of requests for services ancillary to the mandate of the Chief Actuary under the Canada Pension Plan or the Public Pensions Reporting Act, other than the services that the Chief Actuary is expressly required by those Acts to provide, is $150 per hour.
Repeal
5 [Repeal]
Coming into Force
6 These Regulations come into force on the day on which they are registered.
SCHEDULE 1(Section 2)
| Column 1 | Column 2 | |||||
|---|---|---|---|---|---|---|
| Act Reference | ||||||
| Item | Short-form Description of Document or ServiceFootnote for * | Bank Act | Trust and Loan Companies Act | Insurance Companies Act | Cooperative Credit Associations Act | Charge ($) |
| 1 | Letters patent of incorporation | 22 671 | 21 | 22 708 | 23 | 32,000 |
| 2 | Letters patent of continuance | 33 682 | 31 | 32 719 | N/A | 32,000 |
| 3 | Order permitting a foreign bank to carry on business in Canada | 524(1) | N/A | N/A | N/A | 32,000 |
| 4 | Order approving the insuring in Canada of risks by a foreign body corporate | N/A | N/A | 574 | N/A | 32,000 |
| 5 | Letters patent of amalgamation | 228 808 | 233 | 251 862 | 231 | 16,000 |
| 6 | Approval of an agreement respecting the sale of all or substantially all assets | 236 | 241 | N/A | N/A | 16,000 |
| 7 | Approval of the acquisition or increase of a significant interest | 373 875 | 375 | 407 927 | 354 | 16,000 |
| 8 | Approval of a purchase, reinsurance or transfer of policies, a reinsurance against risks undertaken by the company, or a sale of assets | N/A | N/A | 254 587.1 | N/A | 8,000 |
| 9 | Approval of the acquisition of control of, or the acquisition or increase of a substantial investment in, an entity | 468(5) 468(6) 930(5) 930(6) | 453(5) 453(6) | 495(7) 495(8) 554(5) 971(5) 971(6) | 390(5) 390(6) | 8,000 |
| 10 | Approval to retain control of, or to continue to hold a substantial investment in, an entity for longer than 90 days | 471(4) 522.14(4) 933(3) | 456(4) | 498(4) 557(4) 974(3) | 393(4) | 8,000 |
| 11 | Permission to retain control of, or to hold a substantial investment in, an entity for an indeterminate period | 471(5) 933(4) | 456(5) | 498(5) 974(4) | 393(5) | 8,000 |
| 12 | Approval, for an indeterminate period, to retain control of, or to hold a substantial investment in, an entity that was acquired by way of a loan workout or realization of a security interest | 472(7) 473(5) 522.15(3) 934(6) 935(4) | 457(7) 458(5) | 499(7) 500(5) 558(7) 559(5) 975(6) 976(4) | 394(7) 395(5) | 8,000 |
| 13 | Order increasing the aggregate financial exposure limit | 495.2(3) | 483.2(3) | 528.2(3) | N/A | 8,000 |
| 14 | Order exempting a foreign bank from certain provisions of Part XII of the Bank Act | 509(1) | N/A | N/A | N/A | 8,000 |
| 15 | Order approving a foreign bank or an entity associated with a foreign bank to carry out any activity described in section 522.22 of the Bank Act | 522.22 | N/A | N/A | N/A | 8,000 |
| 16 | Designation order | 508 | N/A | N/A | N/A | 8,000 |
| 17 | Authorization for the release of assets in Canada | 599 | N/A | 650 | N/A | 5,600 |
| 18 | Exemption from the requirement to maintain and process information or data in Canada | 245 (with modifications required, as the case may be, under section 598) 822 | 250 | 268 (with modifications required, as the case may be, under section 649) 876 | 242 | 4,800 |
| 19 | Approval of the creation of a security interest | 419 | 419 | 470 | 383 | 4,800 |
| 20 | Approval of a time period to do all things necessary to relinquish control of, or a substantial investment in, an entity or to relinquish an increase to a substantial investment in an entity | 471(1) 471(2) 522.14(2) 933(1) | 456(1) 456(2) | 498(1) 498(2) 557(1) 557(2) 974(1) | 393(1) 393(2) | 4,800 |
| 21 | Approval to maintain a representative office of a foreign bank | 522 | N/A | N/A | N/A | 4,800 |
| 22 | Approval of a declaration of dividend in excess of net income | 79(5) | 82(5) | 83(5) | 86(5) | 4,000 |
| 23 | Letters patent of dissolution | 342 344 (with modifications required, as the case may be, under section 869) | 347 349 | 380 382 570.04 570.06 920 922 | 326 328 | 4,000 |
| 24 | Approval to return amounts transferred from segregated fund account | N/A | N/A | 453 542.03 | N/A | 4,000 |
| 25 | Approval of transactions that are part of the restructuring of a bank holding company or of an insurance holding company or any entity controlled by such a company and to which self-dealing provisions will not apply | 487(2)(e) | N/A | 519(2)(f) | N/A | 4,000 |
| 26 | Approval of asset transactions with a related party or of arrangements applying to such transactions | 494(3) 494(4) | 482(3) 482(4) | 527(3) 527(4) | 418(3) 418(3.1) | 4,000 |
| 27 | Short-term exemption order | 973.1 | N/A | N/A | N/A | 4,000 |
| 28 | Letters patent of, or approval of, continuance or amalgamation under any other Act of Parliament or any Act of the legislature of a province | 39.2 689 | 38(1) | 39(1) 726 | 32(1) | 4,000 |
| 29 | Consent for purchase or redemption of shares or membership shares | 71 715 | 74 | 75 754 | 79 | 3,200 |
| 30 | Approval of special resolution for reduction of stated capital | 75 718 | 78 | 79 757 | 82 | 3,200 |
| 31 | Approval of the making or acquisition of commercial loans, or the acquisition of control of an entity that holds commercial loans, if the total value of commercial loans held exceeds the specified limit | N/A | 462 | 504 | N/A | 3,200 |
| 32 | Approval of amendment to by-laws to change name | 217(3) (with modifications required, as the case may be, under section 802) | 222(3) | 238(3) 544.1 851(3) | 221(2) | 3,200 |
| 33 | Variation of an order approving the commencement and carrying on of business of a body corporate or approving the insuring in Canada of risks by a foreign body corporate | 54 534(6) | 58 | 59 586(1) 657(4) | 62 | 3,200 |
| 34 | Approval for the issuance of shares or other securities in consideration for property | 65 80 709 723 | 68 83 | 69 84 748 762 | 74 87 | 3,200 |
| 35 | Approval to amend an incorporating instrument | 215 (with modifications required, as the case may be, under section 802) | 220 | 224 849 | 219 | 3,200 |
| 36 | Extension of the deadline to do all things necessary to relinquish control of, or a substantial investment in, an entity or to relinquish an increase to a substantial investment in an entity | 471(3) 472(4) 473(4) 522.14(3) 522.15(2) 934(3) 935(3) | 456(3) 457(4) 458(4) | 498(3) 499(4) 500(4) 557(3) 558(4) 559(4) 974(2) 975(3) 976(3) | 393(3) 394(4) 395(4) | 3,200 |
| 37 | Approval of an acquisition or a transfer of assets in excess of 10% of the total value of assets | 482 944 | 470 | 512 569 987 | 406 | 3,200 |
| 38 | Exemption from requirement to provide financial statements for non-bank affiliates | 522.27 | N/A | N/A | N/A | 3,200 |
| 39 | Approval of an acquisition or a transfer of assets in excess of 5% of the total value of assets from a related party that is not a federal financial institution | 495.3 | 483.3 | 528.3 | N/A | 3,200 |
| 40 | Reservation of a name | 43 697 | 45 | 45 734 | 39 | 800 |
| 41 | Approval to be reinsured by a related party that is not a company or foreign company | N/A | N/A | 523 597(1) | N/A | 800 |
| 42 | Approval of a deposit agreement or of a trust deed to maintain assets in Canada | 582 | N/A | 611 | N/A | 800 |
Return to footnote *The short-form descriptions set out under Column 1 are provided in order to facilitate the use of these Regulations. In the case of any discrepancy, the statutory provisions shall prevail over the short-form descriptions.
- SOR/2003-291, s. 1
SCHEDULE 2(Section 3)
| Column 1 | Column 2 | |
|---|---|---|
| Item | Services | Charge ($) |
| 1 | Written, precedent-setting ruling relating to the quality of capital | 6,400 |
| 2 | Accreditation of a provincial reinsurer | 4,000 |
| 3 | Written interpretation of Acts, regulations, guidelines or rulings | 4,000 |
| 4 | Written, non-precedent-setting confirmation of quality of capital | 4,000 |
| 5 | Approval of an amendment to an approved asset-to-capital multiple or borrowing multiple | 3,200 |
| 6 | Approval of the issuance of subordinated debt to a parent | 3,200 |
| 7 | Consent for purchase or redemption of securities other than shares | 3,200 |
| 8 | Approval of a reinsurance trust agreement or of an amendment to a reinsurance trust agreement | 800 |
| 9 | Approval of a letter of credit in lieu of assets | 800 |
| 10 | Copies of any one of the following corporate documents (per request and per body corporate):
| 160 for up to 20 copies plus 5 for each additional copy |
- SOR/2003-291, s. 2
- Date modified: