Public Inquiry (Authorized Foreign Banks) Rules (SOR/99-276)

1 The definitions in this section apply in these Rules.

Act

Act means the Bank Act; (Loi)

application

application means an application submitted pursuant to section 525 of the Act. (demande)

inquiry

inquiry means a public inquiry held pursuant to subsection 525(5) of the Act. (enquête)

objection

objection means an objection to an application. (opposition)

party

party means an applicant or an objector. (partie)

presiding officer

presiding officer means the Superintendent or, where a person has been appointed pursuant to section 6, that person. (président)

Application

2 These Rules apply in respect of public inquiries held pursuant to subsection 525(5) of the Act.

Notice of the Inquiry

• 3 (1) Where the Superintendent holds or causes to be held an inquiry, the Superintendent shall, at least 14 days before the inquiry

  • (a) publish a notice of the inquiry in the Canada Gazette and in a newspaper in general circulation at or near the place where the principal office of the foreign bank is to be situated; and

  • (b) serve the parties with a notice of the inquiry, a copy of the objection and an invitation to attend the inquiry.

• (2) The notice referred to in subsection (1) shall set out

  • (a) the date, time and place of the inquiry;

  • (b) the purpose of the inquiry and the substance of the objection;

  • (c) the name of the presiding officer; and

  • (d) such other information as the Superintendent considers appropriate.

Withdrawal of Application or Objection

• 4 (1) The Superintendent shall cancel an inquiry where

  • (a) the application is withdrawn; or

  • (b) the objection is withdrawn or, if there is more than one objection, all of the objections are withdrawn.

• (2) Where an inquiry is cancelled, the Superintendent shall serve the parties with, and publish in accordance with paragraph 3(1)(a), a notice of the cancellation.

Service of Documents

• 5 (1) A document required to be served under these Rules shall be served on a person by

  • (a) delivering the document to the person;

  • (b) posting the document by registered or certified mail

    • (i) to the person’s address for service, or

    • (ii) where a person has no address for service at the time of service, the usual or last known address of the person; or

  • (c) such other method as the presiding officer may specify.

• (2) The address for service of documents is

  • (a) in the case of an applicant, the address set out in the application; and

  • (b) in the case of an objector, the address set out in the objection.

General Conduct of the Inquiry

6 The Superintendent may appoint a person to preside as presiding officer over an inquiry.

• 7 (1) A party may, in respect of an objection, present written submissions and make oral submissions to the presiding officer at an inquiry.

• (2) A party may attend an inquiry in person or be represented by legal counsel.

• (3) A presiding officer may allow a party to call witnesses.

• (4) At an inquiry, the objector shall make any submissions in support of the objection first, after which the applicant may make submissions in response.

8 A presiding officer may

• (a) receive any information that is relevant to the inquiry; and

• (b) refuse to receive any information that is not relevant to the inquiry.

Public Access

9 Every inquiry shall be open to attendance by the public.

• 10 (1) A person may examine and obtain a copy of the objection and any document submitted in support of, or in opposition to, the objection during the period beginning on the day of publication of the notice of the inquiry in the Canada Gazette and ending on the day that the Minister makes, or renders a decision not to make, an order under section 524 of the Act.

• (2) An examination or a request for a copy referred to in subsection (1) shall be made at the Office of the Superintendent of Financial Institutions in Ottawa or, during the conduct of the inquiry, at the place where the inquiry is held.

Report

11 The Superintendent shall send a copy of the report of the findings of an inquiry to the parties immediately after the Minister makes the report available to the public pursuant to subsection 525(6) of the Act.

Coming into Force

12 These Rules come into force on June 28, 1999.