I-13.2.2, r. 4 - Regulation respecting the indemnification plan applicable pursuant to certain resolution operations

Section 12 Disposition versions

2019-06-13

12. The Authority must give each eligible person a notice stating whether the eligible person is entitled to an indemnity or not and, if so, the amount of the indemnity.

For the purposes of the first paragraph, the notice must be given within a reasonable period of time after one of the following dates, as applicable:

(1)  with respect to shares, unsecured debts and subordinated debt obligations referred to in paragraphs 1 to 3 of section 2, the earlier of the date of the closing of the resolution operations set out in section 40.53 of the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) or the date on which the decision is made to wind up or amalgamate/wind up an authorized deposit institution belonging to a cooperative group;

(2)  with respect to the liabilities referred to in paragraphs 4 and 5 of section 2, the date on which the decision is made to wind up or amalgamate/wind up the authorized deposit institution belonging to a cooperative group or the cooperative group, or to wind up the bridge institution or the asset management company.

M.O. 2019-01, s. 12.

2019-03-31

12. The Authority must give each eligible person a notice stating whether the eligible person is entitled to an indemnity or not and, if so, the amount of the indemnity.

For the purposes of the first paragraph, the notice must be given within a reasonable period of time after one of the following dates, as applicable:

(1)  with respect to shares, unsecured debts and subordinated debt obligations referred to in paragraphs 1 to 3 of section 2, the earlier of the date of the closing of the resolution operations set out in section 40.53 of the Deposit Institutions and Deposit Protection Act (chapter A-26) or the date on which the decision is made to wind up or amalgamate/wind up an authorized deposit institution belonging to a cooperative group;

(2)  with respect to the liabilities referred to in paragraphs 4 and 5 of section 2, the date on which the decision is made to wind up or amalgamate/wind up the authorized deposit institution belonging to a cooperative group or the cooperative group, or to wind up the bridge institution or the asset management company.

M.O. 2019-01, s. 12.

Not in force

In force: 2019-03-31

12. The Authority must give each eligible person a notice stating whether the eligible person is entitled to an indemnity or not and, if so, the amount of the indemnity.

For the purposes of the first paragraph, the notice must be given within a reasonable period of time after one of the following dates, as applicable:

(1)  with respect to shares, unsecured debts and subordinated debt obligations referred to in paragraphs 1 to 3 of section 2, the earlier of the date of the closing of the resolution operations set out in section 40.53 of the Deposit Institutions and Deposit Protection Act (chapter A-26) or the date on which the decision is made to wind up or amalgamate/wind up an authorized deposit institution belonging to a cooperative group;

(2)  with respect to the liabilities referred to in paragraphs 4 and 5 of section 2, the date on which the decision is made to wind up or amalgamate/wind up the authorized deposit institution belonging to a cooperative group or the cooperative group, or to wind up the bridge institution or the asset management company.

M.O. 2019-01, s. 12.