I-13.2.2 - Deposit Institutions and Deposit Protection Act

Full text
56.1. The costs that must be incurred by the Authority for the administration of the provisions of this Act other than Titles III and VI and section 45.2 are to be borne by the authorized deposit institutions; they are determined annually by the Government based on the forecasts provided to it by the Authority.
Such costs, for each deposit institution, correspond to the sum of the minimum contribution set by the Government and the proportion of those costs corresponding to the proportion that the deposit institution’s gross income in Québec for the preceding year is of the aggregate of the similar income of all the authorized deposit institutions for the same period.
The difference noted between the forecast of the costs that must be incurred for the administration of this Act for a year and those actually incurred for the same year must be carried over to similar costs determined by the Government for the year after the difference is noted.
The certificate of the Authority shall definitively establish the amount payable by each deposit institution under this section.
The Government may apportion the costs it determines under the first paragraph differently among deposit institutions depending on whether they are only authorized to carry on deposit institution activities, whether they are also authorized to carry on insurer activities or trust company activities or whether they are financial services cooperatives.
2018, c. 232018, c. 23, s. 391.