Bill C-335 (Historical)

An Act to amend the Bank Act (bank amalgamations)

This bill is from the 39th Parliament, 2nd session, which ended in September 2008.

Sponsor

Pat Martin  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Outside the Order of Precedence (a private member's bill that hasn't yet won the draw that determines which private member's bills can be debated), as of Oct. 16, 2007
(This bill did not become law.)

Summary

This is from the published bill.

The purpose of this enactment is to prevent the amalgamation of banks with each other or with federally incorporated bodies to create one bank, unless the Superintendent of Financial Institutions advises the Minister of Finance that the amalgamation is necessary to prevent an insolvency or informs the Minister that none of the applicants wishing to merge is about to become insolvent. In the latter case, the merger would have to be approved by a resolution of the Senate and House of Commons.

Similar bills

C-335 (39th Parliament, 1st session) An Act to amend the Bank Act (bank amalgamations)

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from Parliament. You can also read the full text of the bill.

Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-335s:

C-335 (2023) Defence of Canada Medal Act (1946-1989)
C-335 (2017) An Act to amend the Conflict of Interest Act (gift or other advantage)
C-335 (2013) An Act to amend the Canada Pension Plan (deductions — disabled child)
C-335 (2011) An Act to amend the Canada Pension Plan (deductions — disabled child)

Bank ActRoutine Proceedings

June 19th, 2006 / 3:15 p.m.


See context

NDP

Pat Martin NDP Winnipeg Centre, MB

moved for leave to introduce Bill C-335, An Act to amend the Bank Act (bank amalgamations).

Mr. Speaker, many of us feel that Canadians are not well served by the mergers of our large charter banks. The charter banks were given the rights to certain financial practices, very lucrative ones such as credit card transactions, in exchange for providing basic services to Canadians in whatever part of the country they live.

These megamergers in the Canadian financial sector, which seem to be about to take place again, do not serve Canadians well. We want to put forward legislation to put specific guidelines, rigid criteria under which we may allow the charter banks to merge. They do not deserve their charter if they are not living up to their end of their charter which is to provide good service to Canadians in the financial services sector.

(Motions deemed adopted, bill read the first time and printed)