Bank Act

Marginal note:Shared premises

• 413.3 (1) Subject to the regulations, no bank to which paragraph 413(1)(b) applies shall carry on business in Canada on premises that are shared with those of a member institution, within the meaning of section 2 of the Canada Deposit Insurance Corporation Act, that is affiliated with the bank.

• Marginal note:Limitation

  (2) Subsection (1) only applies in respect of premises or any portion of premises on which both the bank and the member institution carry on business with the public and to which the public has access.

• Marginal note:Adjacent premises

  (3) Subject to the regulations, no bank to which paragraph 413(1)(b) applies shall carry on business in Canada on premises that are adjacent to a branch or office of a member institution, within the meaning of section 2 of the Canada Deposit Insurance Corporation Act, that is affiliated with the bank, unless the bank clearly indicates to its customers that its business and the premises on which it is carried on are separate and distinct from the business and premises of the affiliated member institution.

• Marginal note:Regulations

  (4) The Governor in Council may make regulations

  • (a) respecting the circumstances in which, and the conditions under which, a bank to which paragraph 413(1)(b) applies may carry on business in Canada on premises that are shared with those of a member institution referred to in subsection (1); and

  • (b) respecting the circumstances in which, and the conditions under which, a bank to which paragraph 413(1)(b) applies may carry on business in Canada on premises that are adjacent to a branch or office of a member institution referred to in subsection (3).