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 2 Disposition versions

2019-03-31

2. The following are protected financial contracts:

(1)  a derivative that is settled by payment or delivery and that trades on an options or a futures exchange or market or on any other regulated market;

(2)  a derivative that is settled by payment or delivery and that is the subject of recurrent dealings in the derivatives markets or in the over-the-counter securities or commodities markets;

(3)  an agreement to borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities or with cash or cash equivalents;

(4)  an agreement to clear or settle securities, futures, options or derivatives transactions;

(5)  an agreement to act as a depository for securities;

(6)  a securities or commodities repurchase, reverse repurchase or buy-sellback agreement;

(7)  a margin loan insofar as it is in respect of a securities account or futures account maintained by a financial intermediary;

(8)  any combination of agreements referred to in any of subparagraphs 1 to 7;

(9)  a master agreement governing an agreement referred to in any of subparagraphs 1 to 8 and any other agreement governing such a master agreement;

(10)  an agreement relating to a guarantee of, or an indemnity or reimbursement obligation with respect to, the obligations under an agreement referred to in any of subparagraphs 1 to 9; and

(11)  an agreement relating to a financial guarantee with respect to an agreement referred to in any of subparagraphs 1 to 10.

For the purposes of the first paragraph:

(1)  a “derivative” means a derivative within the meaning of the Derivatives Act (chapter I-14.01) or a spot; and

(2)  a “financial intermediary” means, in addition to a clearing house, a dealer, a bank, a financial services cooperative, a trust company, a savings company or another person that, in the ordinary course of its business, maintains securities accounts or futures accounts for others when acting in that capacity.

M.O. 2019-02, s. 2.

Not in force

In force: 2019-03-31

2. The following are protected financial contracts:

(1)  a derivative that is settled by payment or delivery and that trades on an options or a futures exchange or market or on any other regulated market;

(2)  a derivative that is settled by payment or delivery and that is the subject of recurrent dealings in the derivatives markets or in the over-the-counter securities or commodities markets;

(3)  an agreement to borrow or lend securities or commodities, including an agreement to transfer securities or commodities under which the borrower may repay the loan with other securities or commodities or with cash or cash equivalents;

(4)  an agreement to clear or settle securities, futures, options or derivatives transactions;

(5)  an agreement to act as a depository for securities;

(6)  a securities or commodities repurchase, reverse repurchase or buy-sellback agreement;

(7)  a margin loan insofar as it is in respect of a securities account or futures account maintained by a financial intermediary;

(8)  any combination of agreements referred to in any of subparagraphs 1 to 7;

(9)  a master agreement governing an agreement referred to in any of subparagraphs 1 to 8 and any other agreement governing such a master agreement;

(10)  an agreement relating to a guarantee of, or an indemnity or reimbursement obligation with respect to, the obligations under an agreement referred to in any of subparagraphs 1 to 9; and

(11)  an agreement relating to a financial guarantee with respect to an agreement referred to in any of subparagraphs 1 to 10.

For the purposes of the first paragraph:

(1)  a “derivative” means a derivative within the meaning of the Derivatives Act (chapter I-14.01) or a spot; and

(2)  a “financial intermediary” means, in addition to a clearing house, a dealer, a bank, a financial services cooperative, a trust company, a savings company or another person that, in the ordinary course of its business, maintains securities accounts or futures accounts for others when acting in that capacity.

M.O. 2019-02, s. 2.