C-4.1 - Savings and Credit Unions Act

Full text
378. The annual inspection shall be carried out, in particular, for the purposes of evaluating the financial policies and practices and the internal control system of a credit union, verifying the accuracy of its financial statements and ensuring that it is complying with this Act and the regulations and with the standards that are applicable to it under this Act.
A further purpose of the annual inspection shall be to ensure compliance with the standards relating to commercial practices in the distribution of financial products and services by a credit union, where it pursues the activities referred to in subparagraph 4.1 of the first paragraph of section 213, or by the legal person or partnership through which it pursues such activities.
1988, c. 64, s. 378; 1996, c. 69, s. 122; 1998, c. 37, s. 519.
378. The annual inspection shall be carried out, in particular, for the purposes of evaluating the financial policies and practices and the internal control system of a credit union, verifying the accuracy of its financial statements and ensuring that it is complying with this Act and the regulations and with the standards that are applicable to it under this Act.
1988, c. 64, s. 378; 1996, c. 69, s. 122.
378. The annual inspection shall be carried out, in particular, for the purposes of evaluating the financial policies and practices and the internal control system of a credit union, verifying the accuracy of its financial statements and ensuring that it is complying with this Act and the regulations that are applicable to it under this Act.
1988, c. 64, s. 378.