I-13.2.2 - Deposit Institutions and Deposit Protection Act

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31.3. A decision under section 31 or 31.1 may, within 30 days of its notification, be contested before the Financial Markets Administrative Tribunal.
The Tribunal may only confirm or quash a contested decision.
1983, c. 10, s. 10; 2009, c. 58, s. 7; 2018, c. 232018, c. 23, s. 353.
31.3. The permit of an institution is cancelled of right upon
(a)  the institution’s dissolution;
(a.1)  the institution’s no longer holding an insurer’s licence under the Act respecting insurance (chapter A-32) or a trust company or savings company licence under the Act respecting trust companies and savings companies (chapter S-29.01), or its no longer being a financial services cooperative within the meaning of the Act respecting financial services cooperatives (chapter C-67.3);
(a.2)  the institution’s not having received deposits of money for over three years;
(a.3)  the institution’s having, in the opinion of the Authority, inadequate assets, which compromises repayment to depositors of guaranteed deposits of money;
(b)  adoption or approval by its shareholders or members of a resolution ordering the winding-up of the institution, other than a resolution requesting the issue of an order contemplated in paragraph d;
(c)  the institution’s coming under a winding-up order for any reason other than bankruptcy or insolvency;
(d)  the institution’s coming under a winding-up order by virtue of the Winding-up Act (Revised Statutes of Canada, 1985, chapter W-11); or
(e)  (paragraph repealed).
1983, c. 10, s. 10; 2009, c. 58, s. 7.
31.3. The permit of an institution is cancelled of right upon
(a)  the institution’s dissolution;
(b)  adoption or approval by its shareholders or members of a resolution ordering the winding-up of the institution, other than a resolution requesting the issue of an order contemplated in paragraph d;
(c)  the institution’s coming under a winding-up order for any reason other than bankruptcy or insolvency;
(d)  the institution’s coming under a winding-up order by virtue of the Winding-up Act (Revised Statutes of Canada, 1985, chapter W-11); or
(e)  the institution’s coming under a receiving order by virtue of the Bankruptcy and Insolvency Act (Revised Statutes of Canada, 1985, chapter B-3) or, within the meaning of the said Act, assigning its property.
1983, c. 10, s. 10.
31.3. The permit of an institution is cancelled of right upon
(a)  the institution’s dissolution;
(b)  adoption or approval by its shareholders or members of a resolution ordering the winding-up of the institution, other than a resolution requesting the issue of an order contemplated in paragraph d;
(c)  the institution’s coming under a winding-up order for any reason other than bankruptcy or insolvency;
(d)  the institution’s coming under a winding-up order by virtue of the Winding-up Act (Revised Statutes of Canada, 1985, chapter W-11); or
(e)  the institution’s coming under a receiving order by virtue of the Bankruptcy Act (Revised Statutes of Canada, 1985, chapter B-3) or, within the meaning of the said Act, assigning its property.
1983, c. 10, s. 10.
31.3. The permit of an institution is cancelled of right upon
(a)  the institution’s dissolution;
(b)  adoption or approval by its shareholders or members of a resolution ordering the winding-up of the institution, other than a resolution requesting the issue of an order contemplated in paragraph d;
(c)  the institution’s coming under a winding-up order for any reason other than bankruptcy or insolvency;
(d)  the institution’s coming under a winding-up order by virtue of the Act respecting the winding-up of insolvent companies (Revised Statutes of Canada, 1970, chapter W-10); or
(e)  the institution’s coming under a receiving order by virtue of the Act respecting bankruptcy (Revised Statutes of Canada, 1970, chapter B-3) or, within the meaning of the said Act, assigning its property.
1983, c. 10, s. 10.