B.C. Reg. 34/2022, deposited February 17, 2022, under the FINANCIAL INSTITUTIONS AMENDMENT ACT, 2019 [section 133] and the FINANCIAL INSTITUTIONS ACT [section 289]. Order in Council 79/2022, approved and ordered February 17, 2022.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that, effective June 30, 2022,

(a) section 14 of the Financial Institutions Amendment Act, 2019, S.B.C. 2019, c. 39, is brought into force,

(b) section 79 (a), as it enacts section 289 (3) (p.31) of the Financial Institutions Act, is brought into force, and

(c) the attached Credit Union Complaint Resolution Regulation is made.

— S. ROBINSON, Minister of Finance; K. CONROY, Presiding Member of the Executive Council.

CREDIT UNION COMPLAINT
RESOLUTION REGULATION

Definition

1 In this regulation, "Act" means the Financial Institutions Act.

Membership requirement

2 A credit union and an extraprovincial credit union must be a member of the Ombudsman for Banking Services and Investments to deal with complaints that are not dealt with to the satisfaction of complainants under section 94.3 of the Act.

Exemption from section 94.3 (1) of the Act

3 Section 94.3 (1) of the Act does not apply to central credit unions.

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