Form of Proxy (Banks and Bank Holding Companies) Regulations, 2022
Enabling Act: Bank Act
On June 21, 2019, Bill C-97 (An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2019 and other measures) received Royal Assent. This bill included statutory amendments to the Bank Act to modernize the legislative provisions applying to the form and content of proxies and the appointment of proxyholders. Regulatory amendments are now required to update and harmonize the Form of Proxy (Banks and Bank Holding Companies) Regulations with the Canada Business Corporations Regulations and provincial securities laws.
Potential Impacts on Canadians, including Businesses
The Small Business lens is not expected to apply.
Stakeholders were consulted on proposed updates to the Form of Proxy (Banks and Bank Holding Companies) Regulations as part of the 2016 and 2017 consultations on the review of the financial sector legislative and regulatory framework.
Interested stakeholders will have an opportunity to review and comment on the proposed regulations as part of the formal regulation-making process when the regulatory proposal is pre-published in the Canada Gazette, Part I.
Departmental Contact Information
Director General, Financial Institutions Division
Financial Sector Policy Branch
Department of Finance Canada
90 Elgin St.
Ottawa, Ontario K1A 0G5
Date Regulatory Initiative First Included in Forward Regulatory Plan: July 2020
Consult Finance Canada’s acts and regulations web page for:
- a list of acts and regulations administered by the Department of Finance
- further information on the Department of Finance’s implementation of government-wide regulatory management initiatives
Consult the following for links to the Cabinet Directive on Regulation and supporting policies and guidance, and for information on government-wide regulatory initiatives implemented by departments and agencies across the Government of Canada:
To learn about upcoming or ongoing consultations on proposed federal regulations, visit:
- Date modified: