Bank Act

Marginal note:Contents of order

• 527 (1) An order made under subsection 524(1) shall set out

  • (a) the name of the authorized foreign bank and, where applicable, the name under which it is permitted to carry on business in Canada;

  • (b) the place in Canada where the principal office of the authorized foreign bank is to be situated;

  • (c) whether the authorized foreign bank is subject to any restrictions and requirements referred to in subsection 524(2); and

  • (d) the date on which the order becomes effective.

• Marginal note:Provisions of order

  (2) The Minister may set out in the order any provision not contrary to this Act that the Minister considers advisable in order to take into account the particular circumstances of the proposed authorized foreign bank with respect to the carrying on of business in Canada.

• Marginal note:Terms and conditions

  (3) The Minister may impose any terms and conditions in respect of the order that the Minister considers appropriate.

• Marginal note:Notice of order

  (4) The Superintendent shall cause to be published in the Canada Gazette a notice of the making of the order.