Notice of Branch Closure (Trust and Loan Companies) Regulations

Marginal note:Circumstances in which Commissioner may require meeting

9 The Commissioner may require a member company to convene and hold a meeting under subsection 444.1(2) of the Act in order to exchange views about the closure of a branch, or about the cessation of an activity referred to in that subsection, in the following circumstances:

• (a) the member company has not consulted the community in the area affected by the closure of the branch or the cessation of the activity well enough to ascertain the views of interested persons in the community with regard to the closure of the branch or the cessation of the activity;

• (b) an individual or a community representative from the area affected by the closure of the branch or the cessation of the activity submits to the Commissioner a written request for the meeting; and

• (c) the request is not frivolous or vexatious.