Canada Deposit Insurance Corporation Act
Version of section 33 from 2002-12-31 to 2007-04-19:
Marginal note:Cancellation
33 (1) Subject to subsection (2), the deposit insurance of a member institution may be cancelled forthwith by the Corporation
(a) when in the opinion of the Corporation the member institution is or is about to become insolvent; or
(b) when the member institution ceases to accept deposits.
Marginal note:No cancellation in certain cases
(2) The Corporation shall notify the Minister of the action it is proposing to take under subsection (1) and shall not take the action if it is advised by the Minister that in the opinion of the Minister taking the action would not be in the public interest.
- R.S., 1985, c. C-3, s. 33
- R.S., 1985, c. 18 (3rd Supp.), s. 62
- 1996, c. 6, s. 38
- Date modified: