Deposit Type Instruments Regulations

Marginal note:Definitions

1 The following definitions apply in these Regulations.

business day

business day means a day other than Saturday or a holiday. (jour ouvrable)

deposit type instrument

deposit type instrument means a product that is issued in Canada by an institution, that is related to a deposit and that specifies a fixed investment period and

• (a) a fixed rate of interest; or

• (b) a variable rate of interest that is calculated on the basis of the institution’s prime lending rate or bankers’ acceptance rate. (instrument de type dépôt)

institution

institution means

• (a) [Repealed, SOR/2021-181, s. 110]

• (b) [Repealed, SOR/2021-181, s. 110]

• (c) a retail association, as defined in section 2 of the Cooperative Credit Associations Act; or

• (d) a company, as defined in section 2 of the Trust and Loan Companies Act. (institution)

interest

interest, in relation to a deposit type instrument, includes any return payable under the instrument by an institution in respect of the deposit. (intérêt)