Electronic Documents (Trust and Loan Companies) Regulations

5 (1) For the purpose of paragraph 539.04(1)(c) of the Act, the addressee may consent in writing, in paper or electronic form, or orally.

(2) Before an addressee consents in writing, the originator or the person acting for the originator must notify the addressee in writing, in paper or electronic form,

• (a) that the addressee may revoke their consent at any time;

• (b) that the addressee is responsible for informing the originator of any changes the addressee makes to the designated information system including any changes made to the contact information related to the designated information system;

• (c) that any electronic documents will be retained for the period specified in the notice and made available to the addressee and that the addressee is responsible for retaining a copy of the document; and

• (d) of when the consent takes effect.

(3) If the notification referred to in subsection (2) or the consent referred to in subsection (4) is provided in an electronic document, the electronic document must be accessible to the addressee and capable of being retained by them so as to be usable for subsequent reference.

(4) If the addressee’s consent is provided in writing, in paper or electronic format, it must include the name of the information system designated by the addressee for the receipt of the electronic document and a list, in paper or electronic form, of the notices, documents or other information that is covered by the consent.

(5) If the addressee’s consent is provided orally, the originator or the person acting for the originator must, without delay, provide the addressee in writing, in paper or electronic form, with the information referred to in subsection (2) and confirm the information referred to in subsection (4).

(6) If the addressee is providing consent for the provision of an electronic document on a one-time basis, subsection (2) does not apply.