D-9.2 - Act respecting the distribution of financial products and services

Section 274 Disposition versions

2004-12-17

274. The amounts constituting the Fonds d’indemnisation des services financiers are managed by the Authority. The Authority shall keep separate books in respect of such amounts and the costs incurred for the administration and operation of the fund pursuant to this Title shall be defrayed out of the amounts constituting the fund.

The assets of the fund are not part of the assets of the Authority and may not be used for the execution of the Authority’s obligations.

1998, c. 37, s. 274; 2002, c. 45, s. 427; 2004, c. 37, s. 90.

2004-02-01

274. The amounts constituting the Fonds d’indemnisation des services financiers are managed by the Agency. The Agency shall keep separate books in respect of such amounts and the costs incurred for the administration and operation of the fund pursuant to this Title shall be defrayed out of the amounts constituting the fund.

The assets of the fund are not part of the assets of the Agency and may not be used for the execution of the Agency’s obligations.

1998, c. 37, s. 274; 2002, c. 45, s. 427.

1999-02-24

274. The object of the fund is to administer the sums of money deposited with it to compensate the victims of fraud, fraudulent tactics or embezzlement for which a firm, an independent representative or an independent partnership, is responsible.

For such purpose, the fund shall, in accordance with the rules determined by regulation,

(1)  administer the moneys deposited with the fund;

(2)  determine whether the claims presented to the fund are eligible, and the amount of compensation to be paid.

Expenses required for the operation of the fund are authorized by the fund.

1998, c. 37, s. 274.