Canada Deposit Insurance Corporation Act (R.S.C., 1985, c. C-3)
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Act current to 2013-05-26 and last amended on 2012-12-19. Previous Versions
Canada Deposit Insurance Corporation Act
R.S.C., 1985, c. C-3
An Act to establish the Canada Deposit Insurance Corporation
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the Canada Deposit Insurance Corporation Act.
- R.S., c. C-3, s. 1.
INTERPRETATION
Marginal note:Definitions
2. In this Act,
“affairs”
« affaires internes »
“affairs”, with respect to a member institution, means its business and the relationships among the member institution and its affiliates and the shareholders, directors and officers of the member institution and its affiliates;
“affiliate”
« groupe »
“affiliate”, in respect of a member institution that is
“appropriate provincial minister”
« ministre provincial compétent »
“appropriate provincial minister”, in relation to a provincial institution, means the minister of the Crown of the province of incorporation of the institution responsible for the supervision of the provincial institution;
“bank”
« banque »
“bank” means a bank listed in Schedule I or II to the Bank Act;
“Board”
« conseil »
“Board” means the Board of Directors of the Corporation;
“bridge institution”
« institution-relais »
“bridge institution” means a federal institution that is designated as a bridge institution by an order made under paragraph 39.13(1)(c);
“by-laws”
« règlements administratifs »
“by-laws” means the by-laws of the Corporation;
- “Chairman”
“Chairman”[Repealed, 1996, c. 6, s. 21]
“Chairperson”
« président »
“Chairperson” means the Chairperson of the Board;
“Corporation”
« Société »
“Corporation” means the Canada Deposit Insurance Corporation established by section 3;
“deposit” and “depositor”
« dépôt » et « déposant »
“deposit” and “depositor” mean respectively a deposit and a depositor as defined in the schedule;
“deposit insurance”
« assurance-dépôts »
“deposit insurance” means the insurance referred to in paragraph 7(a);
“federal credit union”
« coopérative de crédit fédérale »
“federal credit union” has the same meaning as in section 2 of the Bank Act;
“federal institution”
« institution fédérale »
“federal institution” means a bank, company or association referred to in section 8;
“federal member institution”
« institution fédérale membre »
“federal member institution” means a federal institution that is a member institution;
“local cooperative credit society”
« société coopérative de crédit locale »
“local cooperative credit society” has the same meaning as in section 2 of the Bank Act;
“member institution”
« institution membre »
“member institution” means a corporation that has deposit insurance under this Act;
“Minister”
« ministre »
“Minister” means the Minister of Finance;
“policy of deposit insurance” or “policy”
« police d’assurance-dépôts » ou « police »
“policy of deposit insurance” or “policy” means the instrument evidencing the deposit insurance of a member institution;
“premium year”
« exercice comptable des primes »
“premium year” means, in relation to the calculation and payment of premiums pursuant to this Act, the period beginning on May 1 in one year and ending on April 30 in the next year;
“provincial institution”
« institution provinciale »
“provincial institution” means a company referred to in section 9;
“provincial member institution”
« institution provinciale membre »
“provincial member institution” means a provincial institution that is a member institution;
“provincial supervisor”
« contrôleur provincial »
“provincial supervisor”, in relation to a provincial institution, means the official of the province of incorporation of the provincial institution who supervises the affairs of the provincial institution;
“receiver”
« séquestre »
“receiver” includes a receiver-manager and a sequestrator;
“representation”
« déclaration »
“representation” means any oral or written statement and includes any advertisement and any mark, sign, trade name or other device;
“returned payment”
« paiement retourné »
“returned payment” means any portion of a payment made by the Corporation under subsection 14(2) or (2.1) that is either returned to the Corporation or that otherwise remains under its control;
“share”
« action »
“share” includes
(a) a conversion or exchange privilege, issued by a member institution, that is convertible at any time into a share,
(b) an option or a right, issued by a member institution, to acquire a share or a privilege referred to in paragraph (a), and
(c) a membership share within the meaning of section 2 of the Bank Act;
“shareholder”
« actionnaire »
“shareholder” includes the holder of a membership share of a federal credit union;
“subordinated debt”
« dette subordonnée »
“subordinated debt” means debt of a member institution that, by the terms of any instrument evidencing the debt, will, in the event of the insolvency or winding-up of the member institution, be subordinate in right of payment to all deposit liabilities of the member institution and all other liabilities of the member institution except those that, by their terms, rank equally with or are subordinate to that debt and includes
(a) a conversion or exchange privilege that is convertible at any time into subordinated debt, and
(b) an option or a right to acquire subordinated debt or a privilege referred to in paragraph (a)
issued by a member institution;
“Superintendent”
« surintendant »
“Superintendent” means the Superintendent of Financial Institutions appointed pursuant to subsection 5(1) of the Office of the Superintendent of Financial Institutions Act.
- R.S., 1985, c. C-3, s. 2;
- R.S., 1985, c. 18 (3rd Supp.), s. 47;
- 1992, c. 1, s. 142, c. 26, s. 1;
- 1996, c. 6, s. 21;
- 1999, c. 28, s. 98;
- 2001, c. 9, s. 203;
- 2009, c. 2, s. 233;
- 2010, c. 12, s. 2094;
- 2012, c. 5, s. 185.
- Date modified:
