The Bank Act (Public Accountability Statements)

North America Current 2002

Section 459.3(1) of the Bank Act requires a bank with equity of one billion dollars or more shall, in accordance with regulations made under subsection (4), annually publish a statement describing the contribution of the bank and its prescribed affiliates to the Canadian economy and society.

Scope

Social

Industry sectors covered by the instrument

Specific sector/s

Organizations covered by the instrument

Large listed companies - banks, trust and loan companies and domestic insurance companies with $1 Billion or greater in equity

Issuer type

Finance/Treasury

Type of instrument

Legislation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners