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I-13.2.2, r. 4 - Regulation respecting the indemnification plan applicable pursuant to certain resolution operations
Section 5
Disposition versions
5. For the purposes of this Regulation, shares and liabilities of an authorized deposit institution belonging to a cooperative group are of the same class if:
(1) in the event of a winding-up or an amalgamation/ winding-up of the institution, they rank equally in right of payment; and
(2) following an order of the resolution board, they receive treatment that is substantially equivalent as a result of the order of the resolution board or the implementation of the resolution operations or in accordance with their contractual terms, having regard to the manner in which their resolution value is estimated.
In force: 2019-03-31
5. For the purposes of this Regulation, shares and liabilities of an authorized deposit institution belonging to a cooperative group are of the same class if:
(1) in the event of a winding-up or an amalgamation/ winding-up of the institution, they rank equally in right of payment; and
(2) following an order of the resolution board, they receive treatment that is substantially equivalent as a result of the order of the resolution board or the implementation of the resolution operations or in accordance with their contractual terms, having regard to the manner in which their resolution value is estimated.
