I-13.2.2 - Deposit Institutions and Deposit Protection Act

Full text
40.3.1. The premium of a financial services cooperative is reduced by one half if the cooperative is a member, within the meaning of the Act respecting financial services cooperatives (chapter C-67.3), of a security fund whose mission is to avoid or reduce disbursements by the Authority under this Act.
At the Authority’s request, the Government may fix a different reduction.
1982, c. 52, s. 53; 1999, c. 40, s. 27; 2000, c. 29, s. 619; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2009, c. 58, s. 19.
40.3.1. The Authority may, for each accounting period for premiums and with the authorization of the Government, reduce by one-half the premium established for any registered institution which is a financial services cooperative which is a member, within the meaning of the Act respecting financial services cooperatives (chapter C‐67.3), of a security fund which, in the opinion of the Authority,
(1)  has collected or collects dues so as to be able to fulfil its objects, and
(2)  so carries on its objects as to avoid or reduce disbursements by the Authority in respect of financial services cooperatives or members of financial services cooperatives which are members of the security fund.
1982, c. 52, s. 53; 1999, c. 40, s. 27; 2000, c. 29, s. 619; 2002, c. 45, s. 198; 2004, c. 37, s. 90.
40.3.1. The Agency may, for each accounting period for premiums and with the authorization of the Government, reduce by one-half the premium established for any registered institution which is a financial services cooperative which is a member, within the meaning of the Act respecting financial services cooperatives (chapter C‐67.3), of a security fund which, in the opinion of the Agency,
(1)  has collected or collects dues so as to be able to fulfil its objects, and
(2)  so carries on its objects as to avoid or reduce disbursements by the Agency in respect of financial services cooperatives or members of financial services cooperatives which are members of the security fund.
1982, c. 52, s. 53; 1999, c. 40, s. 27; 2000, c. 29, s. 619; 2002, c. 45, s. 198.
40.3.1. The Board may, for each accounting period for premiums and with the authorization of the Government, reduce by one-half the premium established for any registered institution which is a financial services cooperative which is a member, within the meaning of the Act respecting financial services cooperatives (chapter C-67.3), of a security fund which, in the opinion of the Board,
(1)  has collected or collects dues so as to be able to fulfil its objects, and
(2)  so carries on its objects as to avoid or reduce disbursements by the Board in respect of financial services cooperatives or members of financial services cooperatives which are members of the security fund.
1982, c. 52, s. 53; 1999, c. 40, s. 27; 2000, c. 29, s. 619.
40.3.1. The Board may, for each accounting period for premiums and with the authorization of the Government, reduce by one-half the premium established for any registered institution which is a savings and credit union affiliated, within the meaning of the Act respecting security funds (chapter F-3.2.0.4), with a security fund which, in the opinion of the Board,
(1)  has collected or collects dues so as to be able to fulfil its objects, and
(2)  so carries on its objects as to avoid or reduce disbursements by the Board in respect of unions or members of unions affiliated with the security fund.
1982, c. 52, s. 53; 1999, c. 40, s. 27.
40.3.1. The Board may, for each accounting period for premiums and with the authorization of the Government, reduce by one-half the premium established for any registered institution which is a savings and credit union affiliated, within the meaning of the Act respecting security fund corporations (chapter C-69.1), with a security fund corporation which, in the opinion of the Board,
(1)  has collected or collects dues so as to be able to fulfil its objects, and
(2)  so carries on its objects as to avoid or reduce disbursements by the Board in respect of unions or members of unions affiliated with the corporation.
1982, c. 52, s. 53.