I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 38.2 Disposition versions

2019-06-13

38.2. Section 38.1 applies, with the necessary modifications, in the case of the acquisition, by an authorized deposit institution or by a bank, of the assets, together with the take-over of the liabilities, of an authorized deposit institution or a bank.

For the application of section 38.1, the deposit institutions or banks contemplated in the first paragraph are deemed to be deposit institutions that have amalgamated and the deposits made after the date of acquisition are deemed to be made with the deposit institution resulting from the amalgamation.

1983, c. 10, s. 19; 2018, c. 23, s. 368.

1999-04-01

38.2. Section 38.1 applies, with the necessary modifications, in the case of the acquisition, by a registered institution or by a bank, of the assets, together with the take-over of the liabilities, of a registered institution or a bank, or of an institution whose permit has been suspended or cancelled.

For the application of section 38.1, the institutions or banks contemplated in the first paragraph are deemed to be institutions that have amalgamated and the deposits made after the date of acquisition are deemed to be made with the institution resulting from the amalgamation.

1983, c. 10, s. 19.