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An Act to amend the law governing financial institutions and to provide for related and consequential matters (S.C. 2007, c. 6)

Assented to 2007-03-29

436. Subsection 19(2) of the Act is replaced by the following:

  • Marginal note:Maximum penalties

    (2) The maximum penalty for a violation is $50,000 in the case of a violation that is committed by a natural person, and $200,000 in the case of a violation that is committed by a financial institution.

437. Subsection 141(2) of the Act is repealed.

Marginal note:1992, c. 56

Green Shield Canada Act

Marginal note:1996, c. 6, s. 165(2)

  • 438. (1) The portion of subsection 17(1) of the Green Shield Canada Act is replaced by the following:

    Marginal note:Application of the Insurance Companies Act

    • 17. (1) Subject to any other provision of this Act, the following provisions of the Insurance Companies Act, together with any regulations made under or for the purposes of those provisions, apply to the Association, with any modifications that the circumstances require:

  • Marginal note:1996, c. 6, s. 165(2)

    (2) Paragraph 17(1)(d) of the Act is replaced by the following:

    • (d) section 53, paragraphs 54(a) and (c), subsections 56(1) and 58(2), paragraphs 59(1)(b) and (c), subsections 59(2) to (6), 60(1) and (2) and 61(1), paragraph 62(1)(a) and subsections 62(2) to (5) of Part IV;

  • Marginal note:2001, c. 9, s. 343(2)

    (3) Paragraph 17(1)(e) of the Act is replaced by the following:

    • (e) sections 160 to 162, paragraphs 165(2)(a) to (e), (h) and (i), sections 166 and 167, subsection 168(1), sections 170 to 172, subsections 174(1) and (3) to (6), 174(7) (except the reference in it to subsection 173(4)) and 175(1) and (4), sections 177 and 189 to 194, subsection 195(1), sections 196, 202 and 203, subsections 204(1) and (2), paragraphs 204(3)(a) to (c), subsections 204(4) to (6), sections 205 and 206, paragraphs 207(a), (b), (c), (h) and (i), sections 208 to 215, paragraphs 216(2)(d) and (e), subsections 217(1) and (2), paragraphs 217(3)(a) and (c), sections 218 to 223, 244, 254, 255 and 260, subsections 261(1) and (2) and 262(1) to (6), sections 266 to 268, paragraphs 269(a) and (b), sections 270, 278, 279 and 330, subsections 331(1) and (2), paragraphs 331(3)(b) and (c), subsections 331(4) and (6), sections 332 to 357 and 359.1 to 380, paragraph 381(1)(a), subsection 381(2) and sections 382 to 406 of Part VI;

  • Marginal note:2001, c. 9, s. 343(3)

    (4) Paragraph 17(1)(f.1) of the Act is replaced by the following:

    • (f.1) paragraphs 165(2)(f) and (g) of Part VI and sections 479 to 489, 489.2 and 489.3 of Part VIII;

  • Marginal note:2001, c. 9, s. 343(4)

    (5) Paragraph 17(1)(h) of the Act is replaced by the following:

    • (h) sections 515 and 517 of Part X; and