1.1. This Act applies to all deposits of money made in Québec.
However, this Act does not apply to the following deposits, funds, sums or instruments:
(1) deposits that are not payable in Canada or in Canadian currency;
(2) deposits made with banks that are not member institutions of the Canada Deposit Insurance Corporation established by the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3);
(3) deposits whose term exceeds that prescribed by the regulations;
(4) funds obtained at the time of an issue of securities in accordance with the Securities Act (chapter V-1.1), unless otherwise provided by the regulations; (5) sums payable under an insurance or annuity contract issued by an insurer carrying on business in Québec, in accordance with the Insurance Act (chapter A-32);
(6) a promissory note payable in one year or less and, if distributed to a natural person, evidencing a debt of $50,000 or more;
(7) any other deposit determined by regulation.