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C-67.3 - Act respecting financial services cooperatives

Section 566
Disposition versions

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566. A guideline informs its addressees of measures that, in the Authority’s opinion, they may establish to satisfy their obligations under this Act.
Instructions, on the other hand, inform their addressee of the obligations that, in the Authority’s opinion, are incumbent on it under that Act.
2000, c. 29, s. 566; 2008, c. 7, s. 67; 2018, c. 23, s. 318.
566. For the purposes of section 573, a financial services cooperative that fails to comply with the guidelines referred to in section 565 is presumed to have failed to adhere to sound and prudent management practices as provided for in subparagraphs 1 to 3 of the first paragraph of that section, or to have failed to adhere to the commercial practices referred to in section 66.1 or comply with the requirements under section 131.1, as the case may be.
2000, c. 29, s. 566; 2008, c. 7, s. 67.
566. A financial services cooperative that fails to comply with the guidelines issued under section 565 is, for the purposes of sections 573 to 583, deemed to have failed to adhere to sound and prudent management practices.
2000, c. 29, s. 566.
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