Bill C-457
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C-457
Second Session, Fortieth Parliament,
57-58 Elizabeth II, 2009
HOUSE OF COMMONS OF CANADA
BILL C-457
An Act respecting the Insurance Business (Banks and Bank Holding Companies) Regulations
first reading, October 7, 2009
NOTE
3rd Session, 40th Parliament
This bill was introduced during the Second Session of the 40th Parliament. Pursuant to the Standing Orders of the House of Commons, it is deemed to have been considered and approved at all stages completed at the time of prorogation of the Second Session. The number of the bill remains unchanged.
Mrs. Mendes
402338
SUMMARY
This enactment requires the Governor in Council to amend the Insurance Business (Banks and Bank Holding Companies) Regulations.
Also available on the Parliament of Canada Web Site at the following address:
http://www.parl.gc.ca
http://www.parl.gc.ca
2nd Session, 40th Parliament,
57-58 Elizabeth II, 2009
house of commons of canada
BILL C-457
An Act respecting the Insurance Business (Banks and Bank Holding Companies) Regulations
SOR/92-330; SOR/2002-269
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
1. Within 30 days after this Act comes into force, the Governor in Council shall make the following amendments to the Insurance Business (Banks and Bank Holding Companies) Regulations:
(a) sections 6 and 7 are replaced by the following:
6. No bank shall, in Canada, promote an insurance company, agent or broker.
7. No bank shall, in Canada, promote an insurance policy of an insurance company, agent or broker, or promote any service related to such a policy.
(b) sections 9 and 10 are replaced by the following:
9. No bank shall provide a telecommunications device that is primarily for the use of customers in Canada and that links a customer with an insurance company, agent or broker by any means, including the Internet.
10. No bank shall carry on business in Canada in premises that are adjacent to an office of an insurance company, agent or broker.
Published under authority of the Speaker of the House of Commons
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