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C-67.3 - Act respecting financial services cooperatives

Section 453
Disposition versions

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453. Where the Authority considers that the capital of a credit union is inadequate to ensure its sustainability, the Authority may order the credit union to adopt a compliance program within the time prescribed and for the reasons indicated by the Authority.
Before exercising the power set out in the first paragraph, the Authority shall notify the credit union and give it an opportunity to present observations.
2000, c. 29, s. 453; 2002, c. 45, s. 338; 2004, c. 37, s. 90; 2018, c. 23, s. 278.
453. Where the Authority considers that the capital base of the credit union is inadequate, the Authority may order the credit union to adopt a compliance program within the time prescribed and for the reasons indicated by the Authority.
Before exercising the power set out in the first paragraph, the Authority shall notify the credit union and give it an opportunity to present observations.
2000, c. 29, s. 453; 2002, c. 45, s. 338; 2004, c. 37, s. 90.
453. Where the Agency considers that the capital base of the credit union is inadequate, the Agency may order the credit union to adopt a compliance program within the time prescribed and for the reasons indicated by the Agency.
Before exercising the power set out in the first paragraph, the Agency shall notify the credit union and give it an opportunity to present observations.
2000, c. 29, s. 453; 2002, c. 45, s. 338.
453. Where the Inspector General considers that the capital base of the credit union is inadequate, the Inspector General may order the credit union to adopt a compliance program within the time prescribed and for the reasons indicated by the Inspector General.
Before exercising the power set out in the first paragraph, the Inspector General shall notify the credit union and give it an opportunity to present observations.
2000, c. 29, s. 453.
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