I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 30 Disposition versions

2024-05-09

30. For the purposes of subparagraph 5 of the first paragraph of section 29 and section 41.2.1, a deposit institution’s becoming the holder of control of a group or an acquisition or transfer of assets is deemed to not have a significant effect on the deposit institution if the variation that the operation entails in the value of its assets does not exceed 5%.

The variation in the value of the deposit institution’s assets is established in relation to the value of those assets at the end of the fiscal year preceding any of the operations referred to in the first paragraph.

1966-67, c. 73, s. 30; 1983, c. 10, s. 5; 2018, c. 23, s. 353; 2024, c. 15, s. 82.

2019-06-13

30. For the purposes of subparagraph 5 of the first paragraph of section 29, an acquisition or transfer is deemed not to have a significant effect on a deposit institution if the resulting variation in the value of its assets does not exceed 5%.

The variation in the value of the deposit institution’s assets is established in relation to the value of those assets at the end of the fiscal year preceding the acquisition or transfer.

1966-67, c. 73, s. 30; 1983, c. 10, s. 5; 2018, c. 23, s. 353.

1999-04-01

30. Every permit remains in force unless it is suspended or cancelled.

1966-67, c. 73, s. 30; 1983, c. 10, s. 5.

1977-12-31

30. Every permit shall expire one year from the date of issue thereof; it may be renewed for the same term on the conditions prescribed by the regulations.

1966-67, c. 73, s. 30.