SCHEDULE "A" THE COMPETITION TRIBUNAL CT-95/02
IN THE MATTER OF an application by the Commissioner of Competition under sections 79 and 105 of the Competition Act, R.S.C. 1985, c.C-34, as amended;
AND IN THE MATTER OF an abuse of dominant position in the supply of shared electronic network services for consumer-initiated shared electronic financial services;
AND IN THE MATTER OF a Consent Order granted by the Competition Tribunal dated June 20, 1996 and varied on March 25, 1998, and further varied on September 8, 2000;
AND IN THE MATTER OF an application by Bank of Montreal, et al., under sections 105 and 106(1)(b) of the Competition Act, R.S.C. 1985, c.C-34, as amended, to vary on consent the Consent Order granted by the Competition Tribunal on June 20, 1996 and varied on March 25, 1998, and further varied on September 8, 2000.
BETWEEN: ,Regis1try of the Competition Tribunal Bank of Montreal Greff\~ du Tribunal de la concvrence The Bank of Nova Scotia REG JSTERED I ENREGISTRE Canada Trustco Mortgage Company Canadian Imperial Bank of Commerce DEC 4 2002 s::-·.--;-:.:: ... , .... , ...... ·· ... , ... ,. ·· ... , .. , ... , "" .,,_.~,·.l:;-a,@«>nfederation des caisses populaires et . ·-···"·i··,··~"·-,,_,,,_ .., .. d'economie Desjardins du Quebec COMPETITION TRJ8UNAL Credit Union Central of Canada TIBJHAL OE LA CONCURRENCE ~ National Bank of Canada ~ Royal Bank of Canada O_EC~ 4 2002 QL B The Toronto-Dominion Bank I Interac Inc. T AIOll'l'MA • REGISTRAIRE Applicants OTTAWA. Of\rr. I-# I 2. I ( e ) - and-The Commissioner of Competition Respondent
CONSENT ORDER
- 2 -FURTHER TO the Consent Order of the Competition Tribunal (the "Tribunal") dated June 20, 1996 under sections 79 and 105 of the Competition Act (the "Act"), as varied on consent under sections 105 and 106(b) of the Act on March 25, 1998 and September 8, 2000 (the "Consent Order"); AND FURTHER to the application of the Bank of Montreal et al for an order under sections 105 and 106(1 )(b) of the Act for an order further varying the Consent Order, and restating the Consent Order, as further varied, as an Amended Consent Agreement as required by the Act; AND ON CONSIDERING the Notice of Application for an Order to Vary Consent Order, and the Consent of the parties filed herewith; AND ON CONSIDERING THAT the Applicants and the Commissioner have reached an agreement which is reflected in the Amended Consent Agreement, attached as Appendix 1; THE TRIBUNAL ORDERS THAT: 1. The Consent Order dated June 20, 1996 and varied on March 25, 1998 and again varied on September 8, 2000 (the "Consent Order") shall be further varied to reflect the following substantive amendments: (a) The words "incorporated in Canada" are deleted from the definition of "financial institution" in section 1 of the Consent Order; (b) Paragraph (a)(i) is deleted from the definition of"financial institution" in section 1; and ( c) The word "demand" is deleted from the definition of "issuer" in section 1.
- 3 -2. The Consent Order, as varied by paragraph 1 of this order, shall be: restated as an Amended Consent Agreement, as required by the Act and in the form attached hereto as Appendix 1.
DATED at _____ , Ontario this ____ day of
'2002.
ORDONNANCE PAR CONSENTEMENT VU l'Ordonnance par consentement du Tribunal de la concurrence (le « Tribunal ») date du 20 juin 1996 en vertu des articles 79 et 105 de la Loi sur la concurrence (la «Loi»), modifiee par consentement en vertu des articles 105 et 106b) de la Loi le 25 mars 1998 et le 8 septembre 2000 (I'« Ordonnance par consentement ») ;
ET VU la requete faite par la Banque de Montreal et autres pour obtenir une ordonnance en vertu des articles 105 et 106( 1) b) de la Loi pour un consentement modifiant l' Ordonnance par consentement et reformulant l' Ordonnance par consentement, encore modifiee, comme une Entente de consentement modifiee tel qu'exige par la Loi;
ET COMPTE TENU de l'avis de requete d'une ordonnance modifiant l 'Ordonnance par consentement et du Consentement des parties produits aux presentes ;
ET COMPTE TENU QUE les demanderesses et le commissaire en sont venus a une entente qui est refletee dans !'Entente par consentement modifiee jointe en Annexe 1 ;
LE TRIBUNAL ORDONNE QUE : 1. L'Ordonnance par consentement datee du 20 juin 1996, modifiee le 25 mars 1998 et modifiee encore le 8 septembre 2000 (I'« Ordonnance par consentement ») soit modifiee une fois de plus pour tenir compte des modifications de fond suivantes : a) Les mots « constituee au Canada» sont biffes de la definition d' « institution financiere »de !'article 1 de l'Ordonnance par consentement; b) l'alinea (a)(i) est biffe de la definition d'« institution financiere »de !'article 1 ; et c) les mots « de demande » sont biffes de la definition de l' « emettem » dans I' article 1. 2. L'Ordonnance par consentement modifiee selon l'alinea 1 du present consentement est reformulee comme une Entente modifiee de consentement tel qu'exige par la Loi et dans la forme jointe al' Annexe 1 ci-apres.
THE COMPETITION TRIBUNAL CT-95/02
IN THE MATIER OF an application by the Commissioner of Competition under sections 79 and 105 of the Competition Act, R.S.C. 1985, c.C-34, as amended;
AND IN THE MATTER OF an abuse of dominant position in the supply of shared electronic network services for consumer-initiated shared electronic financial services;
AND IN THE MATIER OF a Consent Order granted by the Competition Tribunal dated June 20, 1996 and varied on March 25, 1998, and further varied on September 8, 2000;
AND IN THE MAT IER OF an application by Bank of Montreal, et al., under sections 105 and 106(1)(b) of the Competition Act, R.S.C. 1985, c.C-34, as amended, to vary on consent the Consent Order granted by tht;: Competition Tribunal on June 20, 1996 and varied on March 25, 1998, and further varied on September 8, 2000.
BETWEEN: Bank of Montreal, The Bank of Nova Scotia Canada Trustco Mortgage Company Canadian Imperial Bank of Commerce, La Confederation des caisses populaires et d'economie Desjardins du Qu~:bec, Credit Union Central of Canada, National Bank of Canada, Royal Bank of Canada, The Toronto-Dominion Bank, Interac Inc. Applicants -and -
The Commissioner of Competition Respondent
CONSENT ORDER Mark J. Nicholson Ben Little Blake, Cassels & Graydon LLP Box 25, Commerce Court West Toronto, Ontario M5L 1A9 Phone: (416) 863-2967 Fax: (416) 863-2653 Counsel to the Applicants