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I-13.2.2, r. 4 - Regulation respecting the indemnification plan applicable pursuant to certain resolution operations
Section 7
Disposition versions
7. The liquidation value of a share or liability is the estimated value that the eligible person would have received in respect of the share or liability if, immediately before the order of the resolution board, the authorized deposit institution belonging to a cooperative group or the cooperative group had been wound up in accordance with legislation applicable to the winding-up of insolvent companies or legal persons.
Moreover, the estimate is to be made as if no order of the resolution board has been made in respect of the authorized deposit institution belonging to a cooperative group or the cooperative group and without taking into consideration any assistance, financial or other, that is or may be provided to the institution or the cooperative group, directly or indirectly, by the Authority or by a government in Canada or any of its departments or agencies after the order of the resolution board to wind up the authorized deposit institution belonging to a cooperative group or the cooperative group has been made.
In force: 2019-03-31
7. The liquidation value of a share or liability is the estimated value that the eligible person would have received in respect of the share or liability if, immediately before the order of the resolution board, the authorized deposit institution belonging to a cooperative group or the cooperative group had been wound up in accordance with legislation applicable to the winding-up of insolvent companies or legal persons.
Moreover, the estimate is to be made as if no order of the resolution board has been made in respect of the authorized deposit institution belonging to a cooperative group or the cooperative group and without taking into consideration any assistance, financial or other, that is or may be provided to the institution or the cooperative group, directly or indirectly, by the Authority or by a government in Canada or any of its departments or agencies after the order of the resolution board to wind up the authorized deposit institution belonging to a cooperative group or the cooperative group has been made.
