His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 531(1) a and sections 539.02 b, 539.04 b, 539.05 b, 539.07 b, 539.11 b and 539.12 b of the Trust and Loan Companies Act c, hereby makes the annexed Electronic Documents (Trust and Loan Companies) Regulations. S.C. 2005, c. 54, s. 449 S.C. 2005, c. 54, s. 452 S.C. 1991, c. 45
Interpretation
Definition
In these Regulations, Act means the Trust and Loan Companies Act.
Non-application
For the purpose of section 539.02 of the Act, the prescribed notices, documents or other information is that referred to in sections 85 to 138 of the Act.
Electronic Documents
Documents Provided by the Originator
Notices, documents or other information provided by the originator or the person acting for the originator under these Regulations must be made in a language and presented in a manner that is clear, simple and not misleading.
Electronic Documents Through Website
For the purpose of paragraph 539.04(1)(b) of the Act, an electronic document need not be provided to the designated information system if
the electronic document is posted on or made available through a generally accessible electronic source, such as a website; and
the addressee is provided in writing with a notice, in paper or electronic form, of the availability and location of the electronic document.
Consent to Provision of an Electronic Document
For the purpose of paragraph 539.04(1)(c) of the Act, the addressee may consent in writing, in paper or electronic form, or orally.
Before an addressee consents in writing, the originator or the person acting for the originator must notify the addressee in writing, in paper or electronic form,
that the addressee may revoke their consent at any time;
that the addressee is responsible for informing the originator of any changes the addressee makes to the designated information system including any changes made to the contact information related to the designated information system;
that any electronic documents will be retained for the period specified in the notice and made available to the addressee and that the addressee is responsible for retaining a copy of the document; and
of when the consent takes effect.
[Repealed]
If the addressee’s consent is provided in writing, in paper or electronic format, it must include the name of the information system designated by the addressee for the receipt of the electronic document and a list, in paper or electronic form, of the notices, documents or other information that is covered by the consent.
If the addressee is providing consent for the provision of an electronic document on a one-time basis, subsection (2) does not apply.
Revocation
An addressee may revoke their consent in writing, in paper or electronic form, or orally.
If the addressee revokes their consent, the originator or the person acting for the originator must provide the addressee with confirmation, in writing, in paper or electronic form, of the revocation specifying when revocation of consent takes effect.
[Repealed]
Provision and Receipt
Several Addressees
For the purpose of paragraphs 539.05(b) and 539.07(b) of the Act, if several addressees are to be provided with a notice, document or other information, they are to be provided with it concurrently.
Specific Address
If a notice, document or other information is required under the Act to be sent to a specific place, an electronic document may be sent instead to an information system designated by the addressee for the receipt of the electronic document.
Document Considered Provided
An electronic document is considered to have been provided to an addressee
when it leaves an information system within the control of the originator or the person acting for the originator; or
when it is posted on or made available through the secure website of the originator.
Believed Not To Be Received
In the case of a document provided under section 9, the originator or the person acting for the originator must mail a paper copy of the electronic document to the addressee’s recorded address if they have reason to believe that the addressee may not have received it.
Document Considered Received
An electronic document is considered to have been received
when it enters the information system designated by the addressee;
when it is posted on or made available through the secure website of the originator; or
when the notice referred to in paragraph 4(1)(b) is received by the addressee.
Electronic Signature
A signature referred to in section 539.11 of the Act may be an electronic signature and must consist of one or more letters, characters, numbers or other symbols in digital form incorporated in, attached to or associated with an electronic document.
Coming into Force
These Regulations come into force on June 1, 2011.