Shared Premises Regulations (Banks)

Definition of member institution

• 1 (1) In this section, member institution has the same meaning as in section 2 of the Canada Deposit Insurance Corporation Act.

• Marginal note:Shared premises

  (2) A bank to which paragraph 413(1)(b) of the Bank Act applies may carry on business in Canada on premises that are shared with those of a member institution that is affiliated with the bank if, on those premises, whenever a request is made in person to open a deposit account with the bank, the bank opens the account at a work space that is separate and distinct from every work space at which the member institution carries on business.