E-6.1 - Act respecting the regulation of the financial sector

Updated to 11 December 2002

This document has official status.

chapter A-7.03

Act respecting the Agence nationale d’encadrement du secteur financier

TITLE III SELF-REGULATORY ORGANIZATIONS

CHAPTER I RECOGNITION OF SELF-REGULATORY ORGANIZATIONS

63. No proceedings may be brought against an organization recognized by the Agency or any person exercising a function or power delegated by the Agency by reason of acts performed in good faith in the exercise of the function or power.

2002, c. 45, s. 63.

TITLE VI AMENDING PROVISIONS

DEPOSIT INSURANCE ACT

179. (Amendment integrated into c. A-26, s. 1).

2002, c. 45, s. 179.

197. (Amendment integrated into c. A-26, s. 56).

2002, c. 45, s. 197.

ACT RESPECTING INSURANCE

213. (Amendment integrated into c. A-32, s. 93.165.1).

2002, c. 45, s. 213.

214. (Amendment integrated into c. A-32, s. 93.192).

2002, c. 45, s. 214.

220. (Amendment integrated into c. A-32, s. 93.245).

2002, c. 45, s. 220.

221. (Amendment integrated into c. A-32, s. 93.269).

2002, c. 45, s. 221.

231. (Amendment integrated into c. A-32, s. 211).

2002, c. 45, s. 231.

233. (Amendment integrated into c. A-32, Chapter III.2, ss. 285.27 to 285.34).

2002, c. 45, s. 233.

234. (Amendment integrated into c. A-32, s. 318).

2002, c. 45, s. 234.

235. (Amendment integrated into c. A-32, heading of Chapter V.1 of Title IV).

2002, c. 45, s. 235.

236. (Amendment integrated into c. A-32, ss. 325.0.1 to 325.0.3).

2002, c. 45, s. 236.

237. (Amendment integrated into c. A-32, s. 325.1).

2002, c. 45, s. 237.

238. (Amendment integrated into c. A-32, s. 358).

2002, c. 45, s. 238.

239. (Amendment integrated into c. A-32, s. 378).

2002, c. 45, s. 239.

242. (Amendment integrated into c. A-32, s. 420).

2002, c. 45, s. 242.

ACT RESPECTING THE CAISSES D’ENTRAIDE ÉCONOMIQUE

245. (Amendment integrated into c. C-3, s. 18).

2002, c. 45, s. 245.

Not in force

275. (Not in force).

2002, c. 45, s. 275.

Not in force

287. (Not in force).

2002, c. 45, s. 287.

Not in force

290. (Not in force).

2002, c. 45, s. 290.

ACT RESPECTING FINANCIAL SERVICES COOPERATIVES

306. (Amendment integrated into c. C-67.3, s. 70).

2002, c. 45, s. 306.

309. (Amendment integrated into c. C-67.3, chapter V.1, ss. 131.1 to 131.7).

2002, c. 45, s. 309.

310. (Amendment integrated into c. C-67.3, s. 162).

2002, c. 45, s. 310.

315. (Amendment integrated into c. C-67.3, s. 258).

2002, c. 45, s. 315.

334. (Amendment integrated into c. C-67.3, s. 599).

2002, c. 45, s. 334.

335. (Amendment integrated into c. C-67.3, s. 721).

2002, c. 45, s. 335.

337. (Amendment integrated into c. C-67.3, s. 731).

2002, c. 45, s. 337.

342. (Not in force).

2002, c. 45, s. 342.

343. (Not in force).

2002, c. 45, s. 343.

DEPOSIT ACT

350. (Amendment integrated into c. D-5, s. 8).

2002, c. 45, s. 350.

ACT RESPECTING THE DISTRIBUTION OF FINANCIAL PRODUCTS AND SERVICES

353. (Amendment integrated into c. D-9.2, s. 28).

2002, c. 45, s. 353.

356. (Amendment integrated into c. D-9.2, s. 59).

2002, c. 45, s. 356.

357. (Amendment integrated into c. D-9.2, s. 72).

2002, c. 45, s. 357.

359. (Amendment integrated into c. D-9.2, s. 81).

2002, c. 45, s. 359.

361. (Not in force).

2002, c. 45, s. 361.

362. (Amendment integrated into c. D-9.2, ss. 103 to 103.4).

2002, c. 45, s. 362.

377. (Amendment integrated into c. D-9.2, s. 146).

2002, c. 45, s. 377.

378. (Not in force).

2002, c. 45, s. 378.

383. (Amendment integrated into c. D-9.2, s. 186.1).

2002, c. 45, s. 383.

384. (Not in force).

2002, c. 45, s. 384.

387. (Amendment integrated into c. D-9.2, s. 189.1).

2002, c. 45, s. 387.

390. (Not in force).

2002, c. 45, s. 390.

400. (Not in force).

2002, c. 45, s. 400.

403. (Not in force).

2002, c. 45, s. 403.

407. (Amendment integrated into c. D-9.2, s. 223).

2002, c. 45, s. 407.

409. (Amendment integrated into c. D-9.2, s. 224.1).

2002, c. 45, s. 409.

416. (Not in force).

2002, c. 45, s. 416.

418. (Not in force).

2002, c. 45, s. 418.

459. (Amendment integrated into c. D-9.2, s. 336).

2002, c. 45, s. 459.

471. (Amendment integrated into c. D-9.2, s. 366.1).

2002, c. 45, s. 471.

483. (Not in force).

2002, c. 45, s. 483.

484. (Not in force).

2002, c. 45, s. 484.

490. (Amendment integrated into c. D-9.2, Title IX.1, s. 494.1).

2002, c. 45, s. 490.

491. (Not in force).

2002, c. 45, s. 491.

ACT RESPECTING NASDAQ STOCK EXCHANGE ACTIVITIES IN QUÉBEC

504. (Amendment integrated into c. E-20.01, s. 5).

2002, c. 45, s. 504.

ACT TO ESTABLISH FONDACTION, LE FONDS DE DÉVELOPPEMENT DE LA CONFÉDÉRATION DES SYNDICATS NATIONAUX POUR LA COOPÉRATION ET L’EMPLOI

511. (Amendment integrated into c. F-3.1.2, s. 21).

2002, c. 45, s. 511.

ACT TO ESTABLISH THE FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU QUÉBEC (F.T.Q.)

514. (Amendment integrated into c. F-3.2.1, s. 16).

2002, c. 45, s. 514.

ACT RESPECTING THE INSTITUT DE LA STATISTIQUE DU QUÉBEC

541. (Amendment integrated into c. I-13.011, s. 39).

2002, c. 45, s. 541.

Not in force

548. (Not in force).

2002, c. 45, s. 548.

ACT RESPECTING THE LEGAL PUBLICITY OF SOLE PROPRIETORSHIPS, PARTNERSHIPS AND LEGAL PERSONS

553. (Amendment integrated into c. P-45, Schedule 1).

2002, c. 45, s. 553.

ACT RESPECTING THE SOCIÉTÉ DES LOTERIES DU QUÉBEC

559. (Amendment integrated into c. S-13.1, s. 18).

2002, c. 45, s. 559.

ACT RESPECTING THE SOCIÉTÉS D’ENTRAIDE ÉCONOMIQUE

563. (Amendment integrated into c. S-25.1, s. 112).

2002, c. 45, s. 563.

ACT RESPECTING TRUST COMPANIES AND SAVING COMPANIES

567. (Amendment integrated into c. S-29.01, s. 3).

2002, c. 45, s. 567.

569. (Amendment integrated into c. S-29.01, s. 15).

2002, c. 45, s. 569.

582. (Amendment integrated into c. S-29.01, Chapter XI.1, ss. 153.1 to 153.7).

2002, c. 45, s. 582.

589. (Amendment integrated into c. S-29.01, s. 194).

2002, c. 45, s. 589.

590. (Amendment integrated into c. S-29.01, s. 203).

2002, c. 45, s. 590.

591. (Amendment integrated into c. S-29.01, s. 216).

2002, c. 45, s. 591.

592. (Amendment integrated into c. S-29.01, s. 226).

2002, c. 45, s. 592.

593. (Amendment integrated into c. S-29.01, s. 227).

2002, c. 45, s. 593.

597. (Amendment integrated into c. S-29.01, s. 244).

2002, c. 45, s. 597.

600. (Amendment integrated into c. S-29.01, s. 295).

2002, c. 45, s. 600.

605. (Amendment integrated into c. S-29.01, ss. 314.1 and 314.2).

2002, c. 45, s. 605.

606. (Amendment integrated into c. S-29.01, s. 315).

2002, c. 45, s. 606.

607. (Amendment integrated into c. S-29.01, s. 333).

2002, c. 45, s. 607.

608. (Amendment integrated into c. S-29.01, s. 351).

2002, c. 45, s. 608.

609. (Omitted).

2002, c. 45, s. 609.

LOAN AND INVESTMENT SOCIETIES ACT

612. (Omitted).

2002, c. 45, s. 612.

SECURITIES ACT

623. (Amendment integrated into c. V-1.1, s. 3).

2002, c. 45, s. 623.

624. (Amendment integrated into c. V-1.1, s. 44).

2002, c. 45, s. 624.

625. (Amendment integrated into c. V-1.1, s. 92).

2002, c. 45, s. 625.

626. (Amendment integrated into c. V-1.1, s. 151.1.1).

2002, c. 45, s. 626.

627. (Amendment integrated into c. V-1.1, s. 154).

2002, c. 45, s. 627.

628. (Amendment integrated into c. V-1.1, s. 156).

2002, c. 45, s. 628.

630. (Amendment integrated into c. V-1.1, ss. 168.1.1 to 168.1.5).

2002, c. 45, s. 630.

632. (Amendment integrated into c. V-1.1, s. 195).

2002, c. 45, s. 632.

633. (Amendment integrated into c. V-1.1, s. 195.2).

2002, c. 45, s. 633.

634. (Amendment integrated into c. V-1.1, s. 204).

2002, c. 45, s. 634.

635. (Amendment integrated into c. V-1.1, s. 208.1).

2002, c. 45, s. 635.

636. (Amendment integrated into c. V-1.1, s. 234).

2002, c. 45, s. 636.

637. (Amendment integrated into c. V-1.1, s. 235).

2002, c. 45, s. 637.

640. (Amendment integrated into c. V-1.1, s. 253).

2002, c. 45, s. 640.

641. (Amendment integrated into c. V-1.1, s. 273.1).

2002, c. 45, s. 641.

653. (Amendment integrated into c. V-1.1, s. 295.2).

2002, c. 45, s. 653.

686. (Amendment integrated into c. V-1.1, s. 330.5).

2002, c. 45, s. 686.

690. (Amendment integrated into c. V-1.1, s. 331).

2002, c. 45, s. 690.

691. (Amendment integrated into c. V-1.1, s. 331.1).

2002, c. 45, s. 691.

692. (Amendment integrated into c. V-1.1, s. 332).

2002, c. 45, s. 692.

693. (Amendment integrated into c. V-1.1, s. 334).

2002, c. 45, s. 693.

ACT CONSTITUTING CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS

704. (Amendment integrated into c. C-6.1, s. 20).

2002, c. 45, s. 704.

TITLE VII TRANSITIONAL AND FINAL PROVISIONS

Not in force

727. Any person or partnership that, on (insert here the date that precedes the date of the coming into force of section 378), is the holder of a broker’s certificate or a real estate agent’s certificate issued by the Association des courtiers et agents immobiliers du Québec under the Real Estate Brokerage Act (chapter C-73.1) is entitled to be issued a mortgage broker licence, on request.

2002, c. 45, s. 727.

Not in force

728. Upon the issue of the first licence to a person or partnership referred to in section 727, the Authority shall grant a reduction in the fees payable, calculated on a monthly basis, to take into account the fees that the person or partnership has already paid for any time subsequent to the effective date of the licence.

2002, c. 45, s. 728; 2004, c. 37, s. 90.

Not in force

729. The Fonds d’indemnisation du courtage immobilier shall be seized of any claim arising from an act performed by a real estate broker or real estate agent prior to (insert here the date of the coming into force of section 378), with respect to brokerage activities related to loans secured by immovable hypothec.

The sums required for the payment of claims deemed admissible shall be taken out of the Fund.

2002, c. 45, s. 729.

732. A member of a professional order entered on 10 December 2002 in the register kept in accordance with section 67 of the Act respecting the distribution of financial products and services (chapter D-9.2) and referred to in the third paragraph of section 59 of that Act shall be authorized to use the title of financial planner until 31 May 2004, to the extent that the agreement governing the member remains in force or is renewed and the member meets the requirements and complies with the rules determined by the member’s order.

Sections 65 to 68 of the said Act apply to such a member.

2002, c. 45, s. 732.

733. For the purposes of sections 93.165.1, 285.27 to 285.31, 325.0.1 to 325.0.3, 325.1, 358, 378, 387 and 420 of the Act respecting insurance (chapter A-32) as they read on 11 December 2002, “Agence nationale d’encadrement du secteur financier” or “Agency” shall designate the Inspector General of Financial Institutions until the date of the coming into force of section 7.

2002, c. 45, s. 733.

734. For the purposes of sections 131.1 to 131.5 and 599 of the Act respecting financial services cooperatives (chapter C-67.3) as they read on 11 December 2002, “Agence nationale d’encadrement du secteur financier” or “Agency” shall designate the Inspector General of Financial Institutions until the date of the coming into force of section 7.

2002, c. 45, s. 734.

735. For the purposes of sections 59, 81, 103 to 103.2, 186.1, 189.1, 223, 224.1, 336 and 494.1 of the Act respecting the distribution of financial products and services (chapter D-9.2) as they read on 11 December 2002, “Agence nationale d’encadrement du secteur financier” or “Agency” shall designate the Bureau des services financiers until the date of the coming into force of section 7.

2002, c. 45, s. 735.

736. For the purposes of sections 153.1 to 153.5, 226, 227, 244, 314.1, 314.2, 315 and 351 of the Act respecting trust companies and savings companies (chapter S-29.01) as they read on 11 December 2002, “Agence nationale d’encadrement du secteur financier” or “Agency” shall designate the Inspector General of Financial Institutions until the date of the coming into force of section 7.

2002, c. 45, s. 736.

737. For the purposes of section 20 of the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1) as it reads on 11 December 2002, the Agence nationale d’encadrement du secteur financier means the Régie de l’assurance-dépôts du Québec until the date of coming into force of section 7 of this Act.

2002, c. 45, s. 737.

738. For the purposes of sections 92, 151.1.1, 168.1.1 to 168.1.3, 195, 195.2, 236, 273.1, 295.2, 331, 331.1 and 334 of the Securities Act (chapter V-1.1) as they read on 11 December 2002, “Agence nationale d’encadrement du secteur financier” or “Agency” shall designate the Commission des valeurs mobilières du Québec until the date of the coming into force of section 7.

2002, c. 45, s. 738.

745. Notwithstanding the provisions of sections 298, 568 and 568.1 of the Act respecting the distribution of financial products and services (chapter D-9.2), a Chamber may, in its by-laws, extend the term of office of any member of its board of directors in office on 11 December 2002 for one year.

2002, c. 45, s. 745.

746. The Government may, by regulation made before 11 December 2004, adopt any other transitional provision or measure that is expedient for the carrying out of this Act.

A regulation made under the first paragraph shall not be subject to the publication requirement provided for in section 8 of the Regulations Act (chapter R-18.1) and shall enter into force on the date of its publication in the Gazette officielle du Québec or at any later date indicated therein. The regulation may also, if it provides therefor, apply from any date not prior to 11 December 2002.

2002, c. 45, s. 746.

747. The Government may, by order made before 11 December 2004, amend any provision of an Act to provide for the transfer of duties and powers relating to the regulation of the financial sector to the Agence nationale d’encadrement du secteur financier in order to attain the object of this Act.

Sections 707 to 726 apply to the transfer to the Agence nationale d’encadrement du secteur financier of any of such duties and powers.

2002, c. 45, s. 747.

748. The sums required for the carrying out of this Act during the 2002/2003 fiscal year shall be taken out of the Consolidated Revenue Fund, to such extent as is determined by the Government.

2002, c. 45, s. 748.

749. The Minister of Finance is responsible for the application of this Act.

2002, c. 45, s. 749.

750. (Omitted).

2002, c. 45, s. 750.