Financial Consumer Agency of Canada Act

Marginal note:Minister’s direction

• 5.1 (1) The Minister may give a written direction to the Agency if the Minister is of the opinion that it can strengthen consumer protection and the public’s confidence in that protection, foster safe and secure consumer-driven banking or enhance the financial literacy of Canadians.

• Marginal note:Notification of implementation

  (2) After implementing the direction, the Commissioner shall notify the Minister without delay that the direction has been implemented.

• Marginal note:Best interests

  (3) Compliance by the Agency with a direction is deemed to be in its best interests.

• Marginal note:Statutory Instruments Act

  (4) The Statutory Instruments Act does not apply to a direction given under subsection (1).

• Marginal note:Publication

  (5) The Minister shall cause a notice to be published in the Canada Gazette that a direction was given under subsection (1) as soon as is feasible after the direction is implemented.