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

Section 8 Disposition versions

2019-06-13

8. The resolution value of a share or liability is the total of the estimated value of the following:

(1)  the share or liability, if it is not held by the Authority and it was not converted, after the making of the order of the resolution board, into contributed capital securities in accordance with its contractual terms or after the powers set out in section 40.50 of the Deposit Institutions and Deposit Protection Act (chapter I-13.2.2) are exercised;

(2)  the contributed capital securities that, after the making of the order of the resolution board, are the result of the conversion of the share or liability carried out in accordance with their contractual terms or obtained after the powers set out in section 40.50 of said Act are exercised;

(3)  any dividend or interest payments made with respect to the share, liability or contributed capital securities, after the making of the order of the resolution board, to any person other than the Authority; and

(4)  any other cash, securities or other rights that are received or are to be received with respect to the share, the liability or the contributed capital security as a direct or indirect result of the making of the order of the resolution board or the implementation of the resolution operations, including cash, securities or other rights received or to be received from any of the following:

(a)  the Authority or the authorized deposit institution belonging to a cooperative group;

(b)  the liquidator of the authorized deposit institution belonging to a cooperative group, the liquidator of a cooperative group, an asset management company or a bridge institution, in the event of the winding-up or amalgamation/ winding-up of any thereof.

M.O. 2019-01, s. 8.

2019-03-31

8. The resolution value of a share or liability is the total of the estimated value of the following:

(1)  the share or liability, if it is not held by the Authority and it was not converted, after the making of the order of the resolution board, into contributed capital securities in accordance with its contractual terms or after the powers set out in section 40.50 of the Deposit Institutions and Deposit Protection Act (chapter A-26) are exercised;

(2)  the contributed capital securities that, after the making of the order of the resolution board, are the result of the conversion of the share or liability carried out in accordance with their contractual terms or obtained after the powers set out in section 40.50 of said Act are exercised;

(3)  any dividend or interest payments made with respect to the share, liability or contributed capital securities, after the making of the order of the resolution board, to any person other than the Authority; and

(4)  any other cash, securities or other rights that are received or are to be received with respect to the share, the liability or the contributed capital security as a direct or indirect result of the making of the order of the resolution board or the implementation of the resolution operations, including cash, securities or other rights received or to be received from any of the following:

(a)  the Authority or the authorized deposit institution belonging to a cooperative group;

(b)  the liquidator of the authorized deposit institution belonging to a cooperative group, the liquidator of a cooperative group, an asset management company or a bridge institution, in the event of the winding-up or amalgamation/ winding-up of any thereof.

M.O. 2019-01, s. 8.

Not in force

In force: 2019-03-31

8. The resolution value of a share or liability is the total of the estimated value of the following:

(1)  the share or liability, if it is not held by the Authority and it was not converted, after the making of the order of the resolution board, into contributed capital securities in accordance with its contractual terms or after the powers set out in section 40.50 of the Deposit Institutions and Deposit Protection Act (chapter A-26) are exercised;

(2)  the contributed capital securities that, after the making of the order of the resolution board, are the result of the conversion of the share or liability carried out in accordance with their contractual terms or obtained after the powers set out in section 40.50 of said Act are exercised;

(3)  any dividend or interest payments made with respect to the share, liability or contributed capital securities, after the making of the order of the resolution board, to any person other than the Authority; and

(4)  any other cash, securities or other rights that are received or are to be received with respect to the share, the liability or the contributed capital security as a direct or indirect result of the making of the order of the resolution board or the implementation of the resolution operations, including cash, securities or other rights received or to be received from any of the following:

(a)  the Authority or the authorized deposit institution belonging to a cooperative group;

(b)  the liquidator of the authorized deposit institution belonging to a cooperative group, the liquidator of a cooperative group, an asset management company or a bridge institution, in the event of the winding-up or amalgamation/ winding-up of any thereof.

M.O. 2019-01, s. 8.