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C-67.3 - Act respecting financial services cooperatives
Section 575
Disposition versions
575. (Repealed).
575. Before exercising the powers set out in section 574, the Minister shall give the members of the board of a financial services cooperative whose powers are suspended an opportunity to present observations. The Minister shall also give the cooperative and, if the cooperative is a credit union, the federation an opportunity to present observations.
However, if warranted by the urgency of the situation, the Minister may order the suspension, for a period not exceeding 15 days, without giving the members referred to in the first paragraph or the financial services cooperative or, if the cooperative is a credit union, the federation an opportunity to present observations.
