I-13.2.2, r. 1 - Regulation respecting the application of the Deposit Institutions and Deposit Protection Act

Section 11.1 Disposition versions

2023-04-30

11.1. For the purposes of calculating the premium payable:

(1)  in the cases contemplated in sections 9.1 and 9.2, the determination of the beneficiaries of a trust and the persons whose property is administered is made on the basis of the information noted in the records of the authorized deposit institution;

(2)  the interest accrued and payable on a deposit of money must be calculated, in accordance with the terms and conditions of the contract and exclusive of any penalty, on the basis of the number of days between the date of the last interest payment and 30 April, divided by the number of days between the date of the last interest payment and the date of the next interest payment;

(3)  any deposit of money in a foreign currency must be determined in Canadian dollars in accordance with the exchange rate published on 30 April or, if such rate is not published on that date, immediately before that date by the Bank of Canada or, if there is no such publication by the Bank of Canada, by the authorized deposit institution.

M.O. 2020-09, s. 13; M.O. 2023-03, s. 4.

2020-04-30

11.1. For the purposes of calculating the premium payable under section 40.2.1 of the Act:

(1)  in the cases contemplated in sections 9.1 and 9.2, the determination of the beneficiaries of a trust and the persons whose property is administered is made on the basis of the information noted in the records of the authorized deposit institution;

(2)  the interest accrued and payable on a deposit of money must be calculated, in accordance with the terms and conditions of the contract and exclusive of any penalty, on the basis of the number of days between the date of the last interest payment and 30 April, divided by the number of days between the date of the last interest payment and the date of the next interest payment.

M.O. 2020-09, s. 13.