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I-13.2.2 - Deposit Institutions and Deposit Protection Act
Section 40.25
Disposition versions
40.25. The Authority may implement any resolution operation without the consent, authorization or approval of anyone if the operation is in the resolution plan, or with the sole authorization of the resolution board if it is not in the resolution plan, despite any other Act applicable to the Authority or to any such operation.
The Authority may, subject to the same conditions, exercise all the powers that are conferred by the Act respecting financial services cooperatives (chapter C-67.3) on the federation or on the security fund belonging to the cooperative group.
The first paragraph of section 39 of the Act respecting the regulation of the financial sector (chapitre E-6.1) and sections 77.1 to 77.3 of the Financial Administration Act (chapter A-6.001) apply to the Authority only if it makes a borrowing or an investment, an acquisition or transfer of assets or a financial commitment that was neither provided for in the resolution plan nor authorized by the resolution board.
