Canada Deposit Insurance Corporation Act (R.S.C., 1985, c. C-3)

AMENDMENTS NOT IN FORCE

• — 2014, c. 39, s. 268

  • 268 Section 39 of the Canada Deposit Insurance Corporation Act is repealed.

• — 2021, c. 23, s. 129

  • 129 Section 39.24 of the English version of the Act is replaced by the following:

    • Determination and decision conclusive

      39.24 Except as otherwise provided in this Act, a determination or decision made by the Corporation under section 39.23 or by an assessor appointed under section 39.26 is for all purposes final and conclusive and shall not be questioned or reviewed in any court.

• — 2021, c. 23, s. 130

  • 130 Section 39.26 of the Act is replaced by the following:

    • Appointment of assessor

      • 39.26 (1) In the circumstances prescribed by the regulations, the Governor in Council shall, by order, appoint as assessor a judge who is in receipt of a salary under the Judges Act to review a determination made by the Corporation under subsection 39.23(1).

      • Review

        (2) In reviewing the Corporation’s determination, the assessor shall decide whether the Corporation made its determination based on an erroneous finding of fact that it made in a perverse or capricious manner or without regard for the material before it or on an unreasonable estimate.

      • Confirmation of determination

        (3) If the assessor decides that the Corporation did not make its determination based on such a finding of fact or on such an estimate, the assessor shall confirm the Corporation’s determination.

      • Determination of amount

        (4) If the assessor decides that the Corporation made its determination based on such a finding of fact or on such an estimate, the assessor shall determine, in accordance with the regulations and the by-laws, the amount of compensation, if any, to be paid to the prescribed person and substitute the assessor’s determination for the Corporation’s determination.

• — 2021, c. 23, s. 131

  • 131 Subsection 39.28(2) of the Act is replaced by the following:

    • By-laws

      (2) The Corporation may make by-laws respecting compensation for the purposes of sections 39.23 and 39.26.

• — 2021, c. 23, s. 132

  • 132 Section 6.1 of the schedule to the Act is repealed.

• — 2022, c. 19, s. 59

  • • 59 (1) Section 5 of the schedule to the Canada Deposit Insurance Corporation Act is amended by adding the following after subsection (3):

      • First home savings account

        (3.1) Despite subsection 6(2), for the purposes of deposit insurance with the Corporation, if moneys that constitute a deposit or part of a deposit are received by a member institution from a depositor under a first home savings account as defined in subsection 248(1) of the Income Tax Act, and the account is for the benefit of an individual, then the aggregate of those moneys and any other moneys that constitute a deposit or part of a deposit received from that depositor under any other first home savings account that is for the benefit of that individual is considered to be a single deposit separate from any other deposit for the benefit of that individual.

    • (2) Subsection (1) comes into force on April 1, 2023.