40.3. The amount of the premium is equal to the greater of the following amounts:
(a) a percentage, determined by regulation, of an amount equal to the total of such portion of each deposit as is guaranteed by the Authority under section 33.1 and which is on deposit with the authorized deposit institution on 30 April preceding the accounting period for premiums; or
(b) an amount determined by regulation.
A regulation made for the purpose of subparagraph b of the first paragraph may authorize the Authority to take into account, in determining the amount of the premium, the fact that a deposit institution is a member of a cooperative group referred to in Division II of Chapter III. Such an amount may then be applicable to all the members of the cooperative group, to a certain category of them or to the federation of which they are members.
1981, c. 30, s. 1; 1983, c. 10, s. 25; 2002, c. 45, s. 198; 2004, c. 37, s. 90; 2018, c. 23, s. 373; 2018, c. 23, s. 37311.