I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 1.1 Disposition versions

2021-06-02

1.1. This Act applies to all deposits of money made in Québec.

However, this Act does not apply to the following deposits, funds, sums or instruments:

(1)  (paragraph repealed);

(2)  deposits made with banks that are not member institutions of the Canada Deposit Insurance Corporation established by the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3);

(3)  deposits whose term exceeds that prescribed by the regulations;

(4)  funds obtained at the time of an issue of securities in accordance with the Securities Act (chapter V-1.1), unless otherwise provided by the regulations;

(5)  sums payable under an insurance or annuity contract issued by an insurer carrying on business in Québec, in accordance with the Insurers Act (chapter A-32.1);

(6)  a promissory note payable in one year or less and, if distributed to a natural person, evidencing a debt of $50,000 or more;

(7)  any other deposit determined by regulation.

Despite the preceding paragraphs, the Minister may, exceptionally and for a period determined by the Minister but not exceeding two years, determine that this Act applies to a deposit to which it does not otherwise apply.

2009, c. 58, s. 3; 2018, c. 23, s. 349; 2021, c. 15, s. 90.

2019-06-13

1.1. This Act applies to all deposits of money made in Québec.

However, this Act does not apply to the following deposits, funds, sums or instruments:

(1)  (paragraph repealed);

(2)  deposits made with banks that are not member institutions of the Canada Deposit Insurance Corporation established by the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3);

(3)  deposits whose term exceeds that prescribed by the regulations;

(4)  funds obtained at the time of an issue of securities in accordance with the Securities Act (chapter V-1.1), unless otherwise provided by the regulations;

(5)  sums payable under an insurance or annuity contract issued by an insurer carrying on business in Québec, in accordance with the Insurers Act (chapter A-32.1);

(6)  a promissory note payable in one year or less and, if distributed to a natural person, evidencing a debt of $50,000 or more;

(7)  any other deposit determined by regulation.

2009, c. 58, s. 3; 2018, c. 23, s. 349.

2009-12-04

1.1. This Act applies to all deposits of money made in Québec.

However, this Act does not apply to the following deposits, funds, sums or instruments:

(1)  deposits that are not payable in Canada or in Canadian currency;

(2)  deposits made with banks that are not member institutions of the Canada Deposit Insurance Corporation established by the Canada Deposit Insurance Corporation Act (Revised Statutes of Canada, 1985, chapter C-3);

(3)  deposits whose term exceeds that prescribed by the regulations;

(4)  funds obtained at the time of an issue of securities in accordance with the Securities Act (chapter V-1.1), unless otherwise provided by the regulations;

(5)  sums payable under an insurance or annuity contract issued by an insurer carrying on business in Québec, in accordance with the Insurance Act (chapter A-32);

(6)  a promissory note payable in one year or less and, if distributed to a natural person, evidencing a debt of $50,000 or more;

(7)  any other deposit determined by regulation.

2009, c. 58, s. 3.