I-13.2.2 - Deposit Institutions and Deposit Protection Act

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40.32. The Authority may, as the receiver of the federation and the fund under section 40.14, exercise the power conferred on them by section 547.47 of the Act respecting financial services cooperatives (chapter C-67.3) to carry out an amalgamation/winding-up not only with respect to all the financial services cooperatives belonging to the cooperative group and the fund, but also with respect to any number of those legal persons that it determines.
If the amalgamation/winding-up does not involve all the legal persons belonging to the group, the declaration of amalgamation/winding-up required under section 547.48 of that Act must specify the legal persons involved. The other provisions of that same Act relating to an amalgamation/winding-up apply with the necessary modifications.
2018, c. 232018, c. 23, s. 376.