Bank Act

Marginal note:Prohibited names

• 530 (1) An order made under subsection 524(1) or 528(1.1) may not provide for the use of a name that is

  • (a) prohibited by an Act of Parliament;

  • (b) in the opinion of the Superintendent, deceptively misdescriptive;

  • (c) the same as or, in the opinion of the Superintendent, substantially the same as or confusingly similar to, any existing trademark, trade name or corporate name of a body corporate, except where

    • (i) the trademark or trade name is being changed or the body corporate is being dissolved or is changing its corporate name, and

    • (ii) consent to the use of the trademark, trade name or corporate name is signified to the Superintendent in any manner that the Superintendent may require;

  • (d) the same as or, in the opinion of the Superintendent, substantially the same as or confusingly similar to, the known name under or by which any other entity carries on business or is identified; or

  • (e) reserved under section 43 for an existing or proposed bank or for an existing or proposed authorized foreign bank or under section 697 for an existing or proposed bank holding company.

• Marginal note:Name otherwise prohibited

  (2) An order made under subsection 524(1) or 528(1.1) may provide for the use of a name that includes a word referred to in section 47 of the Trust and Loan Companies Act.