CONSOLIDATION

Exchange Rate (Authorized Foreign Banks) Regulations

SOR/99-273

Current to June 20, 2022



OFFICIAL STATUS OF CONSOLIDATIONS Subsections 31(1) and (3) of the Legislation Revision and Consolidation Act, in force on June 1, 2009, provide as follows: Published consolidation is evidence

31 (1) Every copy of a consolidated statute or consolidated regulation published by the Minister under this Act in either print or electronic form is evidence of that statute or regulation and of its contents and every copy purporting to be published by the Minister is deemed to be so published, unless the contrary is shown. ... Inconsistencies in regulations

(3) In the event of an inconsistency between a consolidated regulation published by the Minister under this Act and the original regulation or a subsequent amendment as registered by the Clerk of the Privy Council under the Statutory Instruments Act, the original regulation or amendment prevails to the extent of the inconsistency.

LAYOUT The notes that appeared in the left or right margins are now in boldface text directly above the provisions to which they relate. They form no part of the enactment, but are inserted for convenience of reference only.

NOTE This consolidation is current to June 20, 2022. Any amendments that were not in force as of June 20, 2022 are set out at the end of this document under the heading “Amendments Not in Force”.

Current to June 20, 2022

TABLE OF PROVISIONS Exchange Rate (Authorized Foreign Banks) Regulations 1

Rate of Exchange

Coming into Force

Current to June 20, 2022

ii

Registration SOR/99-273 June 23, 1999

BANK ACT Exchange Rate Regulations P.C. 1999-1159

(Authorized

Foreign

Banks)

June 23, 1999

His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsections 545(2)a and (6)a of the Bank Actb, hereby makes the annexed Exchange Rate (Authorized Foreign Banks) Regulations.

a

S.C. 1999, c. 28, s. 35(1)

b

S.C. 1991, c. 46

Current to June 20, 2022

Exchange Rate (Authorized Foreign Banks) Regulations

Rate of Exchange 1 For the purposes of subsection 545(2) of the Bank Act, the rate of exchange that shall be applied on any day in determining the amount in Canadian dollars of a deposit with an authorized foreign bank in a currency of a country other than Canada is the latest exchange rate at which the authorized foreign bank offers, before the day of the determination, to buy that currency with Canadian dollars.

Coming into Force 2 These Regulations come into force on June 28, 1999.

Current to June 20, 2022

