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Bank Act

Version of section 53 from 2012-12-19 to 2024-11-11:


Marginal note:Conditions of order

  •  (1) An order approving the commencement and carrying on of business by a bank may contain such conditions or limitations that are consistent with this Act and relate to the business of the bank as the Superintendent deems expedient and necessary.

  • Marginal note:Deemed condition

    (2) An order approving the commencement and carrying on of business by a federal credit union is deemed to contain a condition that the federal credit union must, on an ongoing basis, be organized and carry on business on a cooperative basis in accordance with section 12.1.

  • 1991, c. 46, s. 53
  • 2010, c. 12, s. 1927

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