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The Bank Act (1991, c. 46) is an Act of the Government of Canada respecting banks and banking. The Bank Act was originally passed in 1871. The terms of the Act provide for a statutory review of the Act on a regular basis to ensure that legislators update the Act in order that it keep pace with developments in the financial system. Historically this was done on a decennial basis. 〔(【引用サイトリンク】title=History of the Banking system of Canada to 1948 )〕 In 1992 this requirement was changed to every five years. The Act contains a "sunset" clause providing that it and the bank charters provided by it will expire unless the statutory review is conducted every five years. The most recent statutory review of the Act took place in 2012. The Act groups banks in three schedules. Schedule I banks are domestic banks allowed to accept deposits. Schedule II banks are subsidiaries of foreign banks that allowed to accept deposits through branches in Canada. Schedule III banks are foreign banks with certain restrictions upon the banking business they can conduct in Canada. In 2010, parliament passed amendments to the Act to allow federal credit unions to exist as a new class of financial institution. Federal credit unions differ from banks in that they are member-owned, democratically controlled and governed by co-operative principles. The Bank Act allows that federal credit unions may either be created by five persons (of which three must be individuals), or through the continuance of one or more credit unions existing within provincial jurisdiction. These provisions came into force at the end of 2012, however no institution has yet to operate under them. The Canadian banking industry includes 20 domestic banks, 24 foreign bank subsidiaries and 22 foreign bank branches operating in Canada. 〔(【引用サイトリンク】title=Banks in Canada )〕 ==References== 〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Bank Act (Canada)」の詳細全文を読む スポンサード リンク
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