Detailed table of contents

• Author: M.H. Ogilvie
• Profession: LSM, B.A., LL.B., M.A., D.Phil., D.D., F.R.S.C. Of the Bars of Ontario and Nova Scotia Chancellor's Professor and Professor of Law, Carleton University
• Pages: vii-xiii

PREFACE xv

CHAPTER 1:

BANKS AND BANKING DEFINED 1

1. Introduction 1

2. Jurisdiction over Banking 6

3. Defining Banking 10

   1) Defining Banking from an Institutional Perspective 11

   2) Defining Banking from an Activities Perspective 14

4. Defining Banking at Common Law 19

   CHAPTER 2:

   THE DOMESTIC AND INTERNATIONAL

   FRAMEWORK OF CANADIAN BANKING LAW 24

1. Introduction 24

2. Application to the “Chartered” Banks 25

3. Interpretation of the Bank Act 26

4. Bank Act Reform 27

5. Financial Institutions Regulation Generally 32

6. International Regulation 34

   CHAPTER 3:

   THE REGULATION OF BANKS AND BANKING

   IN CANADA 37

1. Introduction 37

2. Bank of Canada 38

3. Office of the Superintendent of Financial Institutions 44

4. The Canadian Bankers Association 52

5. The Canadian Payments Association 53

6. The Canada Deposit Insurance Corporation 58

7. The Financial Consumer Agency of Canada 69

8. The Ombudsman for Banking Services and Investments 74

   I. The Financial Transactions and Reports Analysis Centre of Canada 78

10. Conclusion 81

    CHAPTER 4:

    BANKS AS BUSINESS CORPORATIONS 83

1. Introduction 83

2. Incorporation 84

3. Status and Powers 87

4. Starting Business 90

5. Directors and Officers 91

   1) Role 91

   2) Statutory Requirements for Directors 92

   3) Statutory Powers and Activities of Directors 94

   4) Directors’ Standards of Care 98

   5) Directors’ Liabilities and Indemnification 101

6. Shareholders 103

   1) Shareholders’ Meetings 103

   2) Access to Records 109

   3) Shareholders’ Auditors 111

   4) Pre-emptive Rights 114

   5) Approval and Remedial Rights 115

   6) Shareholder Liability 117

7. Capital Structure 117

   1) Equity Financing 118

   2) Debt Financing 122

   3) Prospectus Requirements 124

   4) Insider Trading 125

8. Financial Statements 126

   I. Amendments, Amalgamation, and Transferring Business 127

10. Ownership 128

11. Bank Holding Companies 132

    L. Foreign Banks 136

13. Liquidation and Dissolution 139

14. Conclusion 146

    CHAPTER 5:

    BANKING BUSINESS 148

1. Introduction 148

2. Permitted Business 150

   1) Operating Branches 150

   2) Borrowing and Dealing in Money 152

   3) Lending 152

   4) Providing Guarantees 155

   5) Acting as a Financial Agent 155

   6) Selling Tax Deferral Plans 156

   7) Providing Investment Counselling and Portfolio Management 156

   8) Providing Payment, Credit, and Charge Cards 156

   9) Dealing with Real Property 156

   10) Providing Information Processing Services 157

   11) Promoting Merchandise and Services 157

   12) Keeping Property 157

   13) Acting as Receiver or Liquidator 157

   14) Networking 158

   15) Lending to Receivers or Liquidators 158

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