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I-13.2.2, r. 2 - Regulation respecting the application of sections 40.15 to 40.17 of the Deposit Institutions and Deposit Protection Act to protected financial contracts and their transfer
Section 10
Disposition versions
10. The second paragraph of section 5 applies to a protected financial contract between a clearing house and a legal person belonging to the cooperative group only insofar as the Autorité des marchés financiers has given an undertaking to provide the financial assistance that the legal person needs in order to discharge its obligations under the contract as they become due.
For the purposes of the first paragraph, “clearing house” means a clearing house designated as such under Part I of the Payment Clearing and Settlement Act (S.C. 1996, c. 6) as well as a securities and derivatives clearing house within the meaning of that Act.
In force: 2019-03-31
10. The second paragraph of section 5 applies to a protected financial contract between a clearing house and a legal person belonging to the cooperative group only insofar as the Autorité des marchés financiers has given an undertaking to provide the financial assistance that the legal person needs in order to discharge its obligations under the contract as they become due.
For the purposes of the first paragraph, “clearing house” means a clearing house designated as such under Part I of the Payment Clearing and Settlement Act (S.C. 1996, c. 6) as well as a securities and derivatives clearing house within the meaning of that Act.
