Bank Act

Marginal note:Issue of letters patent

• 229 (1) Where an application has been made to the Minister in accordance with section 228, the Minister may issue letters patent of amalgamation continuing the applicants as one bank.

• Marginal note:Exception

  (1.1) In the case of an application made under subsection 223(1.2) or (1.3), the Minister shall not issue letters patent of amalgamation unless the Minister has issued, under subsection 35(1), letters patent continuing as a federal credit union each applicant that was a local cooperative credit society.

• Marginal note:Letters patent

  (2) Where letters patent are issued pursuant to this section, section 28 applies with such modifications as the circumstances require in respect of the issue of the letters patent.

• Marginal note:Publication of notice

  (3) The Superintendent shall cause to be published in the Canada Gazette notice of the issuance of letters patent pursuant to subsection (1).