August 1, 2020
Notice is hereby given, pursuant to subsection 25(2) of the Bank Act (Canada), that nanopay Holdings Inc. (a Canadian corporation located in Toronto), intends to apply to the Minister of Finance for letters patent to incorporate a bank. Approximately 64% of the issued and outstanding shares of nanopay Holdings Inc. are collectively owned by the members of its board of directors, which comprises Laurence Cooke, Andrew Prozes, David Roffey, Gary Cohn, Matthew Grayson and Robert Crockford.
The proposed bank will carry on business in Canada under the names “Payments Bank™” in the English form and “Banque Paiements” in the French form, and its head office will be located in Toronto, Ontario.
The proposed bank will engage in payment processing, clearing and settlement activities for customers, including fintechs, payment technologies, large billers, payroll, tuition, rent payments and insurance companies. The bank will offer both domestic and cross border payments services through application programming interfaces (APIs) and white label web interfaces. The bank will not engage in lending activities or provide investment advisory services.
Any person who objects to the proposed incorporation may submit an objection in writing to the Office of the Superintendent of Financial Institutions, 255 Albert Street, Ottawa, Ontario K1A 0H2, on or before September 15, 2020.
Note: The publication of this notice should not be construed as evidence that letters patent will be issued to incorporate the bank. The granting of the letters patent will be dependent upon the normal Bank Act (Canada) application review process and the discretion of the Minister of Finance.
July 25, 2020
Nanopay Holdings Inc.
Pursuant to section 651 of the Insurance Companies Act (Canada) [the “Act”], notice is hereby given that Sunderland Marine Insurance Company Limited (Canada Branch) intends to apply to the Superintendent of Financial Institutions (Canada) on or after August 29, 2020, for an order authorizing the release of the assets that it maintains in Canada in accordance with the Act.
Any policyholder or creditor in respect of Sunderland Marine Insurance Company Limited (Canada Branch)’s insurance business in Canada opposing that release is invited to file an opposition by mail to the Office of the Superintendent of Financial Institutions (Canada), Legislation and Approvals Division, 255 Albert Street, Ottawa, Ontario K1A 0H2, or by email at firstname.lastname@example.org, on or before August 29, 2020.
July 18, 2020
Sunderland Marine Insurance Company Limited (Canada Branch)