<?xml version="1.0"?><Regulation lims:pit-date="2022-06-29" hasPreviousVersion="true" lims:lastAmendedDate="2022-06-29" lims:current-date="2022-07-13" lims:inforce-start-date="2011-11-01" lims:fid="781794" lims:id="781794" gazette-part="II" in-force="yes" regulation-type="SOR" xml:lang="en" xmlns:lims="http://justice.gc.ca/lims"><Identification lims:inforce-start-date="2011-11-01" lims:fid="781795" lims:id="781795"><InstrumentNumber>SOR/2011-99</InstrumentNumber><RegistrationDate><Date><YYYY>2011</YYYY><MM>3</MM><DD>25</DD></Date></RegistrationDate><ConsolidationDate lims:inforce-start-date="2011-11-01"><Date><YYYY>2022</YYYY><MM>7</MM><DD>14</DD></Date></ConsolidationDate><EnablingAuthority lims:inforce-start-date="2011-11-01" lims:fid="781797" lims:id="781797"><XRefExternal reference-type="act" link="C-41.01">COOPERATIVE CREDIT ASSOCIATIONS ACT</XRefExternal><XRefExternal reference-type="act" link="B-1.01">BANK ACT</XRefExternal><XRefExternal reference-type="act" link="T-19.8">TRUST AND LOAN COMPANIES ACT</XRefExternal></EnablingAuthority><LongTitle lims:inforce-start-date="2011-11-01" lims:fid="781798" lims:id="781798">Registered Products Regulations</LongTitle><RegulationMakerOrder><RegulationMaker>P.C.</RegulationMaker><OrderNumber>2011-509</OrderNumber><Date><YYYY>2011</YYYY><MM>3</MM><DD>25</DD></Date></RegulationMakerOrder></Identification><Order lims:inforce-start-date="2011-11-01" lims:fid="781799" lims:id="781799"><Provision lims:inforce-start-date="2011-11-01" lims:fid="781800" lims:id="781800" format-ref="indent-0-0" language-align="yes" list-item="no"><Text>His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 448.3<FootnoteRef idref="fn_610574-E_hq_5449">a</FootnoteRef>, 459.4<FootnoteRef idref="fn_610574-E_hq_5450">b</FootnoteRef>, 566.1<FootnoteRef idref="fn_610574-E_hq_5453">c</FootnoteRef>, 576.2<FootnoteRef idref="fn_610574-E_hq_5455">d</FootnoteRef> and 978<FootnoteRef idref="fn_610574-E_hq_5457">e</FootnoteRef> of the <XRefExternal reference-type="act" link="B-1.01">Bank Act</XRefExternal><FootnoteRef idref="fn_610574-E_hq_5459">f</FootnoteRef>, sections 385.131<FootnoteRef idref="fn_610574-E_hq_5461">g</FootnoteRef>, 385.28<FootnoteRef idref="fn_610574-E_hq_5463">h</FootnoteRef> and 463<FootnoteRef idref="fn_610574-E_hq_5465">i</FootnoteRef> of the <XRefExternal reference-type="act" link="C-41.01">Cooperative Credit Associations Act</XRefExternal><FootnoteRef idref="fn_610574-E_hq_5479">j</FootnoteRef> and sections 434.1<FootnoteRef idref="fn_610574-E_hq_5475">k</FootnoteRef>, 444.3<FootnoteRef idref="fn_610574-E_hq_5476">l</FootnoteRef> and 531<FootnoteRef idref="fn_610574-E_hq_5477">m</FootnoteRef> of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal><FootnoteRef idref="fn_610574-E_hq_5478">n</FootnoteRef>, hereby makes the annexed <XRefExternal reference-type="regulation" link="SOR-2011-99">Registered Products Regulations</XRefExternal>.</Text><Footnote id="fn_610574-E_hq_5449" placement="page" status="official"><Label>a</Label><Text>S.C. 2007, c. 6, s. 31</Text></Footnote><Footnote id="fn_610574-E_hq_5450" placement="page" status="official"><Label>b</Label><Text>S.C. 2007, c. 6, s. 37</Text></Footnote><Footnote id="fn_610574-E_hq_5453" placement="page" status="official"><Label>c</Label><Text>S.C. 2007, c. 6, s. 89</Text></Footnote><Footnote id="fn_610574-E_hq_5455" placement="page" status="official"><Label>d</Label><Text>S.C. 2007, c. 6, s. 93</Text></Footnote><Footnote id="fn_610574-E_hq_5457" placement="page" status="official"><Label>e</Label><Text>S.C. 2005, c. 54, s. 135</Text></Footnote><Footnote id="fn_610574-E_hq_5459" placement="page" status="official"><Label>f</Label><Text>S.C. 1991, c. 46</Text></Footnote><Footnote id="fn_610574-E_hq_5461" placement="page" status="official"><Label>g</Label><Text>S.C. 2007, c. 6, s. 165</Text></Footnote><Footnote id="fn_610574-E_hq_5463" placement="page" status="official"><Label>h</Label><Text>S.C. 2007, c. 6, s. 170</Text></Footnote><Footnote id="fn_610574-E_hq_5465" placement="page" status="official"><Label>i</Label><Text>S.C. 2005, c. 54, s. 208</Text></Footnote><Footnote id="fn_610574-E_hq_5479" placement="page" status="official"><Label>j</Label><Text>S.C. 1991, c. 48</Text></Footnote><Footnote id="fn_610574-E_hq_5475" placement="page" status="official"><Label>k</Label><Text>S.C. 2007, c. 6, s. 363</Text></Footnote><Footnote id="fn_610574-E_hq_5476" placement="page" status="official"><Label>l</Label><Text>S.C. 2007, c. 6, s. 368</Text></Footnote><Footnote id="fn_610574-E_hq_5477" placement="page" status="official"><Label>m</Label><Text>S.C. 2005, c. 54, s. 449</Text></Footnote><Footnote id="fn_610574-E_hq_5478" placement="page" status="official"><Label>n</Label><Text>S.C. 1991, c. 45</Text></Footnote></Provision></Order><Body lims:inforce-start-date="2011-11-01" lims:fid="781801" lims:id="781801"><Heading lims:inforce-start-date="2011-11-01" lims:fid="781802" lims:id="781802" level="1"><TitleText>Interpretation</TitleText></Heading><Section lims:inforce-start-date="2011-11-01" lims:lastAmendedDate="2022-06-29" lims:fid="781803" lims:id="781803"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781804" lims:id="781804">Definitions</MarginalNote><Label>1</Label><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781805" lims:id="781805"><Label>(1)</Label><Text>The following definitions apply in these Regulations.</Text><Definition lims:inforce-start-date="2011-11-01" lims:fid="781806" lims:id="781806" generate-in-text="no"><Text><DefinedTermEn>institution</DefinedTermEn> means</Text><Paragraph lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="781807" lims:id="1370587"><Label>(a)</Label><Text><Repealed>[Repealed, SOR/2021-181, s. 112]</Repealed></Text></Paragraph><Paragraph lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="781808" lims:id="1370588"><Label>(b)</Label><Text><Repealed>[Repealed, SOR/2021-181, s. 112]</Repealed></Text></Paragraph><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781809" lims:id="781809"><Label>(c)</Label><Text>a retail association, as defined in section 2 of the <XRefExternal reference-type="act" link="C-41.01">Cooperative Credit Associations Act</XRefExternal>; or</Text></Paragraph><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781810" lims:id="781810"><Label>(d)</Label><Text>a company, as defined in section 2 of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal>. (<DefinedTermFr>institution</DefinedTermFr>)</Text></Paragraph></Definition><Definition lims:inforce-start-date="2011-11-01" lims:fid="781811" lims:id="781811" generate-in-text="no"><Text><DefinedTermEn>point of service</DefinedTermEn> means a physical location to which the public has access and at which an institution provides registered products through a natural person in Canada. (<DefinedTermFr>point de service</DefinedTermFr>)</Text></Definition></Subsection><Subsection lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="781812" lims:id="1370591"><MarginalNote lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="1370592" lims:id="1370592">Definition of <DefinitionRef>registered product</DefinitionRef></MarginalNote><Label>(2)</Label><Text>For the purposes of section 385.131 of the <XRefExternal reference-type="act" link="C-41.01">Cooperative Credit Associations Act</XRefExternal>, section 434.1 of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal> and these Regulations, <DefinedTermEn>registered product</DefinedTermEn> means a registered education savings plan, a registered retirement savings plan, a registered retirement income fund, a registered disability savings plan or any other plan, arrangement or fund to which Division G of Part I of the <XRefExternal reference-type="act" link="I-3.3">Income Tax Act</XRefExternal> applies that is provided by an institution to a natural person.</Text></Subsection><HistoricalNote><HistoricalNoteSubItem lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="1370590" lims:id="1370590" lims:enactId="1314036">SOR/2021-181, s. 112</HistoricalNoteSubItem></HistoricalNote></Section><Heading lims:inforce-start-date="2011-11-01" lims:fid="781814" lims:id="781814" level="1"><TitleText>Manner of Disclosure</TitleText></Heading><Section lims:inforce-start-date="2011-11-01" lims:lastAmendedDate="2022-06-29" lims:fid="781815" lims:id="781815"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781816" lims:id="781816">Clear and simple language</MarginalNote><Label>2</Label><Subsection lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="781817" lims:id="1370593"><Label>(1)</Label><Text>The information that is required to be provided by an institution under subsection 385.131(1) of the <XRefExternal reference-type="act" link="C-41.01">Cooperative Credit Associations Act</XRefExternal>, subsection 434.1(1) of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal> or these Regulations must be disclosed in language, and presented in a manner, that is clear, simple and not misleading.</Text></Subsection><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781818" lims:id="781818"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781819" lims:id="781819">Manner of providing information</MarginalNote><Label>(2)</Label><Text>The information must be provided in writing and orally, subject to the following exceptions:</Text><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781820" lims:id="781820"><Label>(a)</Label><Text>in the case of an account that is opened by telephone, or an agreement that is entered into by telephone, the institution need only provide the information orally before opening the account or entering into the agreement; and</Text></Paragraph><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781821" lims:id="781821"><Label>(b)</Label><Text>in the case of an account that is opened by electronic means or by mail, or an agreement that is entered into by electronic means or by mail, the institution need only provide the information in writing before opening the account or entering into the agreement.</Text></Paragraph></Subsection><Subsection lims:inforce-start-date="2020-03-16" lims:enacted-date="2020-03-16" lims:fid="781822" lims:id="1239966"><MarginalNote lims:inforce-start-date="2020-03-16" lims:enacted-date="2020-03-16" lims:fid="1239967" lims:id="1239967">Accounts opened by telephone</MarginalNote><Label>(3)</Label><Text>An institution that only provides information orally in accordance with paragraph (2)(a) must provide the same information in writing after opening the account or entering into the agreement.</Text></Subsection><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781824" lims:id="781824"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781825" lims:id="781825">Accounts opened by electronic means</MarginalNote><Label>(4)</Label><Text>An institution that only provides information in writing in accordance with paragraph (2)(b) must, before opening the account or entering into the agreement, provide the telephone number of a person who is knowledgeable about the terms and conditions of the registered product.</Text></Subsection><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781826" lims:id="781826"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781827" lims:id="781827">Date of the disclosure</MarginalNote><Label>(5)</Label><Text>An institution that provides the information in writing referred to in subsections (2) to (4) by mail is considered to have provided that information to the individual on the fifth business day after the postmark date.</Text></Subsection><HistoricalNote><HistoricalNoteSubItem lims:inforce-start-date="2020-03-16" lims:enacted-date="2020-03-16" lims:fid="1239969" lims:id="1239969" lims:enactId="1239183">SOR/2020-47, s. 18</HistoricalNoteSubItem><HistoricalNoteSubItem lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="1370594" lims:id="1370594" lims:enactId="1314040">SOR/2021-181, s. 113</HistoricalNoteSubItem></HistoricalNote></Section><Heading lims:inforce-start-date="2011-11-01" lims:fid="781828" lims:id="781828" level="1"><TitleText>Circumstances Under Which Information Need Not Be Provided</TitleText></Heading><Section lims:inforce-start-date="2011-11-01" lims:lastAmendedDate="2022-06-29" lims:fid="781829" lims:id="781829"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781830" lims:id="781830">Exception</MarginalNote><Label>3</Label><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781831" lims:id="781831"><Label>(1)</Label><Text lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="1314495" lims:id="1370595">An institution is not required to provide the information referred to in subsection 385.131(1) of the <XRefExternal reference-type="act" link="C-41.01">Cooperative Credit Associations Act</XRefExternal> or subsection 434.1(1) of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal> if</Text><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781832" lims:id="781832"><Label>(a)</Label><Text>the account to be opened, or the product or service in respect of which an agreement is to be entered into, will form part of a customer’s existing registered product; and</Text></Paragraph><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781833" lims:id="781833"><Label>(b)</Label><Text>the customer has been previously advised in writing of all charges in respect of the registered product.</Text></Paragraph></Subsection><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781834" lims:id="781834"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781835" lims:id="781835">Trust and loan companies</MarginalNote><Label>(2)</Label><Text>A company, as defined in section 2 of the <XRefExternal reference-type="act" link="T-19.8">Trust and Loan Companies Act</XRefExternal>, is not required to provide the information referred to in subsection 434.1(1) of that Act or section 4 if</Text><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781836" lims:id="781836"><Label>(a)</Label><Text>the account to be opened is being opened by the company solely for the purpose of acting as trustee in respect of the registered product; or</Text></Paragraph><Paragraph lims:inforce-start-date="2011-11-01" lims:fid="781837" lims:id="781837"><Label>(b)</Label><Text>the agreement to be entered into is an agreement that the company is entering into solely for the purpose of acting as trustee in respect of the registered product.</Text></Paragraph></Subsection><HistoricalNote><HistoricalNoteSubItem lims:inforce-start-date="2022-06-29" lims:enacted-date="2021-08-04" lims:fid="1370597" lims:id="1370597" lims:enactId="1314042">SOR/2021-181, s. 114</HistoricalNoteSubItem></HistoricalNote></Section><Heading lims:inforce-start-date="2011-11-01" lims:fid="781838" lims:id="781838" level="1"><TitleText>Additional Disclosure</TitleText></Heading><Section lims:inforce-start-date="2011-11-01" lims:lastAmendedDate="2011-11-01" lims:fid="781839" lims:id="781839"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781840" lims:id="781840">Notice of amendments</MarginalNote><Label>4</Label><Text>Before amending any terms and conditions in respect of a registered product, the institution must disclose the proposed amendment in writing to the person to whom the product was provided.</Text></Section><Heading lims:inforce-start-date="2011-11-01" lims:fid="781841" lims:id="781841" level="1"><TitleText>List of Charges</TitleText></Heading><Section lims:inforce-start-date="2011-11-01" lims:lastAmendedDate="2011-11-01" lims:fid="781842" lims:id="781842"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781843" lims:id="781843">Branches and websites</MarginalNote><Label>5</Label><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781844" lims:id="781844"><Label>(1)</Label><Text>An institution must maintain a list of the charges applicable to registered products at each of its branches and points of service where registered products are offered in Canada and on each of its websites through which registered products are offered in Canada.</Text></Subsection><Subsection lims:inforce-start-date="2011-11-01" lims:fid="781845" lims:id="781845"><MarginalNote lims:inforce-start-date="2011-11-01" lims:fid="781846" lims:id="781846">Making list available</MarginalNote><Label>(2)</Label><Text>An institution must, on request, make the list available to its customers and to the public for inspection during business hours at each of the branches and points of service referred to in subsection (1).</Text></Subsection></Section><Heading lims:inforce-start-date="2011-11-01" lims:fid="781847" lims:id="781847" level="1"><TitleText>Coming into Force</TitleText></Heading><Section lims:inforce-start-date="2011-03-25" lims:lastAmendedDate="2011-03-25" lims:fid="781848" lims:id="781848"><MarginalNote lims:inforce-start-date="2011-03-25" lims:fid="781849" lims:id="781849">August 1, 2011</MarginalNote><Label>6</Label><Text>These Regulations come into force on November 1, 2011.</Text></Section></Body><RecentAmendments><Amendment><AmendmentCitation>SOR/2021-181</AmendmentCitation><AmendmentDate>2022-06-29</AmendmentDate></Amendment><Amendment><AmendmentCitation>SOR/2020-47</AmendmentCitation><AmendmentDate>2020-03-16</AmendmentDate></Amendment></RecentAmendments></Regulation>