Consumer-Driven Banking Act (S.C. 2026, c. 3, s. 224)

Marginal note:National security order — revocation

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  61 (1) The Minister may, by order, direct a participating entity or third-party service provider whose accreditation is revoked under subsection 69(1), or any director, officer or agent or mandatary of the participating entity or third-party service provider, to take or refrain from taking any measures related to the activities that the participating entity or third-party service provider performed under this Act if the Minister is of the opinion that it is necessary to do so for reasons related to national security.

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  Marginal note:Representations

  (2) Subject to subsection (3), the Minister must not make an order under subsection (1) unless the participating entity, third-party service provider, entity or individual in question is provided with an opportunity to make representations in respect of the matter.

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  Marginal note:Temporary order

  (3) If, in the Minister’s opinion, the length of time required for representations to be made might be prejudicial to the public interest, the Minister may make a temporary order that has the same effect as an order made under subsection (1).

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  Marginal note:End of temporary order

  (4) A temporary order ceases to have effect on the earlier of

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    (a) the end of the 30-day period after the day on which it is made or of any shorter period that is specified in the temporary order, and

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    (b) the day on which an order is made under subsection (1).

Marginal note:Notice — Committee and Review Agency

62 The Minister must, within 30 days after the day on which an order is made under subsection 60(1) or (3) or 61(1) or (3), notify

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  (a) the National Security and Intelligence Committee of Parliamentarians established by section 4 of the National Security and Intelligence Committee of Parliamentarians Act; and

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  (b) the National Security and Intelligence Review Agency established under section 3 of the National Security and Intelligence Review Agency Act.

Marginal note:Copy to Bank

63 The Minister must provide a copy of each order made under subsection 60(1) or (3) or 61(1) or (3) to the Bank, which must then, as soon as feasible, provide a copy to the individual or entity in question.

Marginal note:Confidential information

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  64 (1) The Minister may specify that information about an undertaking required by an order made under section 55, terms and conditions imposed by an order made under section 56 or an order made under subsection 60(1) or (3) or 61(1) or (3), or information that could reveal the existence of the undertaking, terms and conditions or order, is confidential and must be treated accordingly.

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  Marginal note:Prohibition

  (2) Despite anything in this Act, it is prohibited for any individual or entity to disclose any confidential information referred to in subsection (1) except for the purposes of subsection (3) or section 59 or 63 or in accordance with any conditions that the Minister may specify.

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  Marginal note:Notice — Committee and Review Agency

  (3) If the Minister specifies under subsection (1) that information is confidential, the Minister must, within 30 days after the day on which the order in question is made under section 55 or 56 or subsection 60(1) or (3) or 61(1) or (3), notify

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    (a) the National Security and Intelligence Committee of Parliamentarians established by section 4 of the National Security and Intelligence Committee of Parliamentarians Act; and

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    (b) the National Security and Intelligence Review Agency established under section 3 of the National Security and Intelligence Review Agency Act.

Marginal note:Court enforcement

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  65 (1) If an individual or entity is not complying with an undertaking required by an order made under section 55, terms and conditions imposed by an order made under section 56 or an order made under subsection 60(1) or (3) or 61(1) or (3), the Minister may, in addition to any other action that may be taken under this Act, apply to a superior court for an order requiring the individual or entity to comply with the undertaking, terms and conditions or order.

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  Marginal note:Powers of court

  (2) The court may make the order and any other order that it thinks fit.

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  Marginal note:Appeal

  (3) An appeal from an order made under subsection (2) lies in the same manner and to the same court as an appeal from any other order of the court.

Marginal note:Notice of intent — directive to revoke

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  66 (1) The Minister may issue to the Bank a notice of the Minister’s intent to issue a directive to the Bank to revoke a participating entity’s or accredited third-party service provider’s accreditation if

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    (a) there are reasons related to national security;

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    (b) the participating entity or accredited third-party service provider has failed to provide additional information in accordance with section 71;

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    (c) an order made under section 55, or an undertaking required under that section, that relates to the participating entity or accredited third-party service provider has not been complied with;

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    (d) a term or condition imposed under section 56 that relates to the participating entity or accredited third-party service provider has not been complied with;

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    (e) the participating entity or accredited third-party service provider has provided false or misleading information to the Bank, the Minister or a designated person or government authority; or

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    (f) the participating entity or accredited third-party service provider or a director, officer or agent or mandatary of the participating entity or accredited third-party service provider has not complied with an order made under subsection 60(1) or (3).

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  Marginal note:Notice

  (2) The Bank must, as soon as feasible, notify in writing the participating entity or accredited third-party service provider in question of the notice of intent.

Marginal note:Review of notice of intent

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  67 (1) A participating entity or accredited third-party service provider that has been notified under subsection 66(2) may, within the period provided for in the regulations, request a review of the notice of intent by the Minister. The request must be submitted to the Bank, which must then, as soon as feasible, transmit it to the Minister.

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  Marginal note:Temporary suspension

  (2) If, in the Minister’s opinion, the length of time required for a review of the notice of intent might be prejudicial to the public interest, the Minister may issue a directive to the Bank to immediately suspend the participating entity’s or accredited third-party service provider’s accreditation while the review is being undertaken.

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  Marginal note:Suspension and notice

  (3) The Bank must immediately suspend the participating entity’s or accredited third-party service provider’s accreditation if the Minister issues a directive to that effect under subsection (2). The Bank must then, as soon as feasible, notify the participating entity or accredited third-party service provider in writing that its accreditation has been suspended in accordance with a directive issued by the Minister.

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  Marginal note:Reference to suspension in registry

  (4) The Bank must immediately include a reference to the suspension in the registry.

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  Marginal note:Effect of suspension — participating entity

  (5) A participating entity that is notified that its accreditation has been suspended under subsection (3) must immediately cease all consumer-driven banking activities that it performs under this Act.

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  Marginal note:Effect of suspension — accredited third-party service provider

  (6) An accredited third-party service provider that is notified that its accreditation has been suspended under subsection (3) must immediately cease all activities for which it is accredited.

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  Marginal note:Decision

  (7) On completion of the review and after giving the participating entity or accredited third-party service provider an opportunity to make representations, the Minister must withdraw the notice of intent or issue a directive to the Bank to revoke the accreditation.

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  Marginal note:Notice

  (8) If the Minister decides to withdraw the notice of intent, the Minister must notify the Bank, which must then immediately notify the participating entity or accredited third-party service provider in writing, end any suspension and remove any reference to the suspension from the registry.

Marginal note:Review not requested

68 If a participating entity or accredited third-party service provider that has been notified under subsection 66(2) does not request a review of the notice of intent within the period provided for in the regulations, the Minister must withdraw the notice of intent or issue a directive to the Bank to revoke the accreditation.

Marginal note:Revocation of accreditation

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  69 (1) The Bank must revoke a participating entity’s or accredited third-party service provider’s accreditation if the Minister issues a directive to that effect under subsection 67(7) or section 68.

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  Marginal note:Notice of revocation

  (2) The Bank must, as soon as feasible, notify the participating entity or accredited third-party service provider in writing that its accreditation has been revoked in accordance with a directive issued by the Minister.

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  Marginal note:Reference to revocation in registry

  (3) The Bank must, as soon as feasible, include a reference to the revocation in the registry.

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  Marginal note:Duties of former participating entity

  (4) A participating entity whose accreditation has been revoked must, as soon as feasible after being notified of the revocation under subsection (2), comply with its duties under this Act and, in accordance with the regulations, notify in writing any consumers that used the services that it provided in accordance with this Act and provide those consumers with any other information that is provided for in the regulations.

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  Marginal note:Duties of former accredited third-party service provider

  (5) A third-party service provider whose accreditation has been revoked must, as soon as feasible after being notified of the revocation under subsection (2), comply with its duties under this Act and, in accordance with the regulations, notify in writing any participating entities on whose behalf it was performing, at the time of the revocation, any of the activities for which it was accredited and provide those participating entities with any other information that is provided for in the regulations.

Marginal note:Notice — Committee and Review Agency

70 Within 30 days after the day on which the Minister issues a directive under subsection 67(2), the Minister must notify

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  (a) the National Security and Intelligence Committee of Parliamentarians established by section 4 of the National Security and Intelligence Committee of Parliamentarians Act; and

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  (b) the National Security and Intelligence Review Agency established under section 3 of the National Security and Intelligence Review Agency Act.

Marginal note:Additional information

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  71 (1) A participating entity or accredited third-party service provider must provide the Minister and any designated person or government authority with any additional information that the Minister or the designated person or government authority requests, for reasons related to national security, in relation to the participating entity or the activities that it performs under this Act or in relation to the accredited third-party service provider or the activities for which it is accredited.

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  Marginal note:Manner

  (2) A request for information under subsection (1) must be submitted to the Bank, which must then, as soon as feasible, transmit it to the participating entity or accredited third-party service provider. The participating entity or accredited third-party service provider, as the case may be, must, within the period provided for in the regulations, provide the requested information to the Bank, which must then, as soon as feasible, provide it to the Minister and any designated person or government authority.

Marginal note:Notice to appropriate provincial authority

72 If the Bank gives notice under subsection 67(3) or (8) or 69(2) to a participating entity that is a provincial financial institution, the Bank must, as soon as feasible, notify the appropriate provincial authority that regulates or supervises the provincial financial institution.

Marginal note:Personal information

73 The Minister is not authorized to make a request or an order under section 54, 55, 56, 60, 61 or 71 requiring an individual, a participating entity, an accredited third-party service provider or any other entity to provide the Minister or any designated person or government authority with a consumer’s personal information.