I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 1 Disposition versions

2019-06-13

1. This Act applies to the supervision and control of the activities of authorized deposit institutions, in particular their deposit institution activities and their other financial institution activities. In addition, it fosters the stability of the financial system in Québec by establishing a plan to protect deposits of money in the event of the actual or apprehended insolvency of an authorized deposit institution.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179; 2002, c. 70, s. 186; 2002, c. 45, s. 179; 2004, c. 37, s. 90; 2009, c. 58, s. 3; 2018, c. 23, s. 347.

2009-12-04

1. The purpose of this Act is to foster the stability of the financial system in Québec by establishing a plan to protect deposits of money in the event of the actual or apprehended insolvency of a registered institution.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179; 2002, c. 70, s. 186; 2002, c. 45, s. 179; 2004, c. 37, s. 90; 2009, c. 58, s. 3.

2004-12-17

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Authority” : the Autorité des marchés financiers established under section 1 of the Act respecting the Autorité des marchés financiers (chapter A‐33.2);

(b)  “bank” : a bank listed in Schedule I or II of the Bank Act (Statutes of Canada, 1991, chapter 46) and registered with the Canada Deposit Insurance Corporation;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “financial services cooperative” : a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C‐67.3);

(h)  “regulations” : the regulations made by the Authority and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179; 2002, c. 70, s. 186; 2002, c. 45, s. 179; 2004, c. 37, s. 90.

2004-02-01

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Agency” : the Agence nationale d’encadrement du secteur financier established under section 1 of the Act respecting the Agence nationale d’encadrement du secteur financier (chapter A‐7.03);

(b)  “bank” : a bank listed in Schedule I or II of the Bank Act (Statutes of Canada, 1991, chapter 46) and registered with the Canada Deposit Insurance Corporation;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “financial services cooperative” : a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C‐67.3);

(h)  “regulations” : the regulations made by the Agency and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179; 2002, c. 70, s. 186; 2002, c. 45, s. 179.

2003-02-12

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank listed in Schedule I or II of the Bank Act (Statutes of Canada, 1991, chapter 46) and registered with the Canada Deposit Insurance Corporation;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “financial services cooperative” : a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179; 2002, c. 70, s. 186.

2002-12-11

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank listed in Schedule I or II of the Bank Act (Revised Statutes of Canada, 1985, chapter B-1.01) and registered with the Canada Deposit Insurance Corporation;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “financial services cooperative” : a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618; 2002, c. 45, s. 179.

2001-07-01

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Québec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4) applies;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “financial services cooperative” : a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27; 2000, c. 29, s. 618.

1999-10-22

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Québec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4) applies;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a legal person other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S‐29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “savings and credit union” : a savings and credit union governed by the Savings and Credit Unions Act (chapter C‐4.1);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587; 1999, c. 40, s. 27.

1999-04-01

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Québec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4) applies;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a corporation other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S-29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “savings and credit union” : a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4.1);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368; 1988, c. 64, s. 587.

1988-12-12

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or the Québec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4) applies;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a corporation other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S-29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “savings and credit union” : a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368.

1988-06-09

1. In this Act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Statutes of Canada) or the Québec Savings Banks Act (Statutes of Canada) applies;

(c)  “permit” : a permit issued under this Act;

(d)  “institution” : a corporation other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Act respecting trust companies and savings companies (chapter S-29.01);

(f.1)  “savings company” : a savings company within the meaning of the Act respecting trust companies and savings companies;

(g)  “savings and credit union” : a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this Act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14; 1987, c. 95, s. 368.

1977-12-31

1. In this act, unless the context indicates a different meaning, the following expressions mean:

(a)  “Board” : the Régie de l’assurance-dépôts du Québec;

(b)  “bank” : a bank to which the Bank Act (Statutes of Canada) or the Québec Savings Banks Act (Statutes of Canada) applies;

(c)  “permit” : a permit issued under this act;

(d)  “institution” : a corporation other than a bank;

(e)  “registered institution” : an institution holding a permit that is in force;

(f)  “trust company” : a trust company within the meaning of the Trust Companies Act (chapter C-41);

(g)  “savings and credit union” : a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4);

(h)  “regulations” : the regulations made by the Board and approved by the Government;

(i)  “similar plan” : any law granting to depositors protection similar to that provided by this act.

1966-67, c. 73, s. 1; 1968, c. 71, s. 1; 1977, c. 5, s. 14.