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I-13.2.2 - Deposit Institutions and Deposit Protection Act
Section 40.50
Disposition versions
40.50. The Authority may convert any part of the shares issued by a deposit institution belonging to the cooperative group into contributed capital securities of that deposit institution, of another such institution belonging to that group or of a legal person constituted or resulting from an amalgamation/continuance or other conversion carried out for the purposes of the resolution.
The Authority may convert any part of the negotiable and transferable unsecured debts that belong, at the time of issue, to a class prescribed by regulation of the Authority, into contributed capital securities of the deposit institution that issued them, of another such institution belonging to the cooperative group or of a legal person constituted or resulting from an amalgamation/ continuance or other conversion carried out for the purposes of the resolution.
40.50. The Authority may cancel any part of the shares issued by a deposit institution belonging to the cooperative group. It may also convert such shares into contributed capital securities of that deposit institution, of another such institution belonging to that group or of a legal person constituted or resulting from an amalgamation/continuance or other conversion carried out for the purposes of the resolution.
The Authority may write off any part of the negotiable and transferable unsecured debts that belong, at the time of issue, to a class prescribed by regulation of the Authority. It may also convert them into contributed capital securities of the deposit institution that issued them, of another such institution belonging to the cooperative group or of a legal person constituted or resulting from an amalgamation/ continuance or other conversion carried out for the purposes of the resolution.
40.50. The Authority may cancel any part of the shares issued by a deposit institution belonging to the cooperative group. It may also convert such shares into contributed capital securities of a legal person constituted or resulting from an amalgamation/continuance or other conversion carried out for the purposes of the resolution.
The Authority may write off any part of the negotiable and transferable unsecured debts that belong, at the time of issue, to a class prescribed by regulation of the Authority. It may also convert them into contributed capital securities of a legal person constituted or resulting from an amalgamation/ continuance or other conversion carried out for the purposes of the resolution.
