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I-13.2.2 - Deposit Institutions and Deposit Protection Act
Section 28.24
Disposition versions
28.24. The Authority may, if it considers that an authorized deposit institution’s capital is not adequate to ensure the deposit institution’s sustainability, order the deposit institution to adopt a compliance program within the time it prescribes and for the reasons it specifies.
Before exercising the power provided for in the first paragraph, the Authority must notify the deposit institution of its intention and give it at least 10 days to submit observations.
The Authority may not order an authorized deposit institution other than an authorized Québec deposit institution to adopt such a program if it may hinder the measures taken by the deposit institution’s home regulator.
