Government of Canada / Gouvernement du Canada
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Bank Act

Version of section 28 from 2012-12-19 to 2023-10-31:

Marginal note:Contents of letters patent

  •  (1) There shall be set out in the letters patent incorporating a bank

    • (a) the name of the bank;

    • (a.1) in the case of a bank that is to be a federal credit union, a statement that it is a federal credit union;

    • (b) the province in which the head office of the bank is to be situated; and

    • (c) the date that the bank came, or is to come, into existence.

  • Marginal note:Provisions in letters patent

    (2) The Minister may set out in the letters patent incorporating a bank any provision not contrary to this Act that the Minister considers advisable in order to take into account the particular circumstances of the proposed bank.

  • Marginal note:Terms and conditions

    (3) The Minister may impose such terms and conditions in respect of the issuance of letters patent incorporating a bank as the Minister considers necessary or appropriate.

  • 1991, c. 46, s. 28
  • 2005, c. 54, s. 7
  • 2010, c. 12, s. 1906
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