SOR/2001-5720011

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20196

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COOPERATIVE CREDIT ASSOCIATIONS ACTSupervisory Information (Cooperative Credit Associations) RegulationsP.C.2001-13820011

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Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 435.1a and paragraph 463(a) of the Cooperative Credit Associations Actb, hereby makes the annexed Supervisory Information (Cooperative Credit Associations) Regulations.aS.C. 1999, c. 28, s. 117bS.C. 1991, c. 48Prescribed Supervisory Information

1(1)For the purposes of section 435.1 of the Cooperative Credit Associations Act, the following information or any component of that information is prescribed supervisory information in relation to an association:(a)any rating assigned by the Superintendent to the association to assess its financial condition and any other such rating that is substantially based on information obtained from the Superintendent;(b)any stage of intervention assigned to the association on the basis of the principles set out in the Guide to Intervention for Federal Financial Institutions;(c)any order made in respect of the association under subsection 409(3) of the Cooperative Credit Associations Act, any prudential agreement entered into by the association under section 438.1 of that Act or any direction issued to it under section 439 of that Act;(d)any report prepared by or at the request of the Superintendent or any recommendation made by the Superintendent as a result of an annual or special examination or other supervisory review of the association, including any related correspondence to or from the directors or officers of the association.(2)For the purposes of section 435.1 of the Cooperative Credit Associations Act, the information prescribed by the following regulations is prescribed supervisory information in relation to an affiliate of an association:(a)the Supervisory Information (Banks) Regulations, if the affiliate is a bank to which the Bank Act applies;(b)the Supervisory Information (Authorized Foreign Banks) Regulations, if the affiliate is an authorized foreign bank to which the Bank Act applies;(c)the Supervisory Information (Insurance Companies) Regulations, if the affiliate is a company, society, foreign company or provincial company to which the Insurance Companies Act applies;(d)the Supervisory Information (Trust and Loan Companies) Regulations, if the affiliate is a company to which the Trust and Loan Companies Act applies;(e)the Supervisory Information (Bank Holding Companies) Regulations, if the affiliate is a bank holding company to which the Bank Act applies; and(f)the Supervisory Information (Insurance Holding Companies) Regulations, if the affiliate is an insurance holding company to which the Insurance Companies Act applies.SOR/2001-482, s. 1; SOR/2011-196, s. 12

Prohibited Disclosure

2Subject to sections 3 and 4, an association shall not, directly or indirectly, disclose information referred to in section 1.SOR/2011-196, s. 13

Limited Disclosure

3An association may disclose information referred to in section 1 to its affiliates or to its directors, officers, employees, auditors, securities underwriters or legal advisors, or to those of its affiliates, if the association ensures that the information remains confidential.SOR/2011-196, s. 13

4An association or any of its affiliates may disclose information referred to in paragraph 1(1)(c) if the association or affiliate considers the information to contain a material fact or material change that is required by the securities laws of the relevant jurisdiction to be disclosed.SOR/2011-196, s. 14(E)

Coming into Force

5These Regulations come into force on the day on which they are registered.