Deposit-Type Instruments Regulations

Marginal note:Required content — all advertisements

• 8 (1) In each of its advertisements for deposit type instruments, an institution must disclose how the public may obtain information about the instruments.

• Marginal note:Required content — advertisements referring to an instrument’s features or interest payable

  (2) In each of its advertisements for deposit type instruments that refer to features of deposit type instruments or the interest payable under them, an institution must also disclose

  • (a) the manner in which interest is to be accrued and any limitations in respect of the interest payable; and

  • (b) if the instruments relate to deposits that are not eligible for deposit insurance coverage by the Canada Deposit Insurance Corporation, the fact that they are not eligible.

• Marginal note:Exception

  (3) Paragraph (2)(b) does not apply to an institution to which subsection 413.1(2) or 545(5) of the Bank Act, subsection 378.2(2) of the Cooperative Credit Associations Act or subsection 413.1(2) of the Trust and Loan Companies Act applies.