Version of section 409 from 2003-01-01 to 2009-03-11:
Marginal note:Main business
409 (1) Subject to this Act, a bank shall not engage in or carry on any business other than the business of banking and such business generally as appertains thereto.
(2) For greater certainty, the business of banking includes
(a) providing any financial service;
(b) acting as a financial agent;
(c) providing investment counselling services and portfolio management services; and
(d) issuing payment, credit or charge cards and, in cooperation with others including other financial institutions, operating a payment, credit or charge card plan.
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