Home Bank and Trust Office Moves; SG Intent

Summary#

• The Canada Gazette notice records two address changes and one planned corporate status change.
• Home Bank and Home Trust Company have moved the Manitoba-designated office for service of enforcement notices to 145 King Street West, Suite 2300, Toronto, Ontario M5H 1J8.
• Société Générale (Canada) says it intends to apply, on or after March 16, 2021, for approval to stop being a bank under the Bank Act and to continue as a company under the Canada Business Corporations Act.

What it does#

• Changes the designated service address for enforcement notices (for Manitoba) for:
  • Home Bank under the Support Orders and Support Provisions (Banks and Authorized Foreign Banks) Regulations — new address 145 King Street West, Suite 2300, Toronto, Ontario M5H 1J8.
  • Home Trust Company under the Support Orders and Support Provisions (Trust and Loan Companies) Regulations — same new address 145 King Street West, Suite 2300, Toronto, Ontario M5H 1J8.
• Announces that Société Générale (Canada) intends to apply to the Minister of Finance, on or after March 16, 2021, for permission to:
  • discontinue being a bank under the Bank Act, and
  • continue as a numbered corporation under the Canada Business Corporations Act.
• The notice says the publication is not the same as approval. Any change for Société Générale (Canada) depends on the Minister’s review and decision.

Who's affected#

• People and agencies who serve legal or enforcement documents (for example, family-support enforcement offices, sheriffs, lawyers) and who need to send those documents to the Manitoba-designated office of:
  • Home Bank
  • Home Trust Company
• Customers, creditors, employees, and business partners of Société Générale (Canada) who may be interested in a change to the company’s legal and regulatory status.
• Regulators and anyone tracking the legal status of banks and financial firms.
• If it’s unclear who will notice a direct effect, the notice does not give operational details, so practical impacts are uncertain until any approval is issued.

Why it matters#

• For enforcement and legal processes, having the correct service address matters. Notices sent to the old address might not reach the bank or trust company if senders don’t update their records.
• If Société Générale (Canada) is allowed to leave the Bank Act and continue under the Canada Business Corporations Act, the rules that apply to it would change. That could affect regulatory oversight, reporting rules, and possibly the legal framework around customers and creditors — but the notice does not describe specific consequences.
• The change for Société Générale (Canada) is only an intent announced publicly; people should watch for further announcements or regulatory decisions after March 16, 2021 for any confirmed effects.