I-13.2.2 - Deposit Institutions and Deposit Protection Act

Section 43 Disposition versions

2021-12-08

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any legal person applying for a policy contemplated in section 34 and the conditions required for the issue of the policy;

(a.1)  (paragraph repealed);

(a.2)  (paragraph repealed);

(b)  (paragraph repealed);

(c)  (paragraph repealed);

(c.1)  (paragraph repealed);

(d)  determining the form and tenor of applications for policies, the form and tenor of policies, and the form of applications for authorization;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.0.1)  determining, for the purposes of the second paragraph of section 40.2.1, a method for estimating deposits of money;

(e.1)  determining, for the purposes of the application of Chapter II of Title III, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where a legal person becomes an authorized deposit institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  (paragraph repealed);

(e.3)  (paragraph repealed);

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that authorized deposit institutions other than authorized insurers and authorized trust companies must keep;

(h)  (paragraph repealed);

(h.1)  determining the rate of interest applicable to a deposit of money for the purposes of section 34.4;

(i)  determining the only signs, marks, advertisements or other means of publicity that an authorized deposit institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that an authorized deposit institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  (paragraph repealed);

(l)  prescribing, for each class of authorized deposit institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(l.1)  determining audit expenses for the purposes of section 41.3;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the authorized deposit institutions or classes of institutions of the expenses incurred for the inspection of the affairs of the authorized deposit institutions and the proportions, conditions and dates of their collection;

(m.2)  (paragraph repealed);

(n)  (paragraph repealed);

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  (paragraph repealed);

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  (paragraph repealed);

(s.1)  clarifying the application of sections 40.15 to 40.18 to the financial contracts it determines;

(s.2)  providing for the classes of negotiable and transferable unsecured debts that may be converted into contributed capital securities under the second paragraph of section 40.50;

(s.3)  providing for the indemnification plan for the holders of shares or securities transferred under section 40.49 or the holders of shares that were converted under the first paragraph of section 40.50 and for creditors whose debts were converted under the second paragraph of that section;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  determining the standards applicable to authorized deposit institutions in relation to their commercial practices and their management practices.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90; 2009, c. 58, s. 23; 2018, c. 23, s. 382; 2021, c. 34, s. 123.

2020-05-01

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any legal person applying for a policy contemplated in section 34 and the conditions required for the issue of the policy;

(a.1)  (paragraph repealed);

(a.2)  (paragraph repealed);

(b)  (paragraph repealed);

(c)  (paragraph repealed);

(c.1)  (paragraph repealed);

(d)  determining the form and tenor of applications for policies, the form and tenor of policies, and the form of applications for authorization;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.0.1)  determining, for the purposes of the second paragraph of section 40.2.1, a method for estimating deposits of money;

(e.1)  determining, for the purposes of the application of Chapter II of Title III, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where a legal person becomes an authorized deposit institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  (paragraph repealed);

(e.3)  (paragraph repealed);

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that authorized deposit institutions other than authorized insurers and authorized trust companies must keep;

(h)  (paragraph repealed);

(h.1)  determining the rate of interest applicable to a deposit of money for the purposes of section 34.4;

(i)  determining the only signs, marks, advertisements or other means of publicity that an authorized deposit institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that an authorized deposit institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  (paragraph repealed);

(l)  prescribing, for each class of authorized deposit institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(l.1)  determining audit expenses for the purposes of section 41.3;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the authorized deposit institutions or classes of institutions of the expenses incurred for the inspection of the affairs of the authorized deposit institutions and the proportions, conditions and dates of their collection;

(m.2)  (paragraph repealed);

(n)  (paragraph repealed);

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  (paragraph repealed);

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  (paragraph repealed);

(s.1)  clarifying the application of sections 40.15 to 40.18 to the financial contracts it determines;

(s.2)  providing for the classes of negotiable and transferable unsecured debts that may be written off or converted into contributed capital securities under the second paragraph of section 40.50;

(s.3)  providing for the indemnification plan for the holders of shares or securities transferred under section 40.49 or the holders of shares that were cancelled or converted under the first paragraph of section 40.50 and for creditors whose debts were written off or converted under the second paragraph of that section;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  determining the standards applicable to authorized deposit institutions in relation to their commercial practices and their management practices.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90; 2009, c. 58, s. 23; 2018, c. 23, s. 382.

2019-06-13

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any legal person applying for a policy contemplated in section 34 and the conditions required for the issue of the policy;

(a.1)  (paragraph repealed);

(a.2)  (paragraph repealed);

(b)  (paragraph repealed);

(c)  (paragraph repealed);

(c.1)  (paragraph repealed);

(d)  determining the form and tenor of applications for policies, the form and tenor of policies, and the form of applications for authorization;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.0.1)  determining, for the purposes of the second paragraph of section 40.2.1, a method for estimating deposits of money;

(e.1)  determining, for the purposes of the application of Chapter II of Title III, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where a legal person becomes an authorized deposit institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  (paragraph repealed);

(e.3)  (paragraph repealed);

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that authorized deposit institutions other than authorized insurers and authorized trust companies must keep;

(h)  (paragraph repealed);

(h.1)  determining the rate of interest applicable to a deposit of money for the purposes of section 34.4;

(i)  determining the only signs, marks, advertisements or other means of publicity that an authorized deposit institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that an authorized deposit institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining the form and tenor of the information that a security fund must provide for the purposes of the second paragraph of section 40.3.1, and when it must be provided;

(l)  prescribing, for each class of authorized deposit institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(l.1)  determining audit expenses for the purposes of section 41.3;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the authorized deposit institutions or classes of institutions of the expenses incurred for the inspection of the affairs of the authorized deposit institutions and the proportions, conditions and dates of their collection;

(m.2)  (paragraph repealed);

(n)  (paragraph repealed);

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  (paragraph repealed);

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  (paragraph repealed);

(s.1)  clarifying the application of sections 40.15 to 40.18 to the financial contracts it determines;

(s.2)  providing for the classes of negotiable and transferable unsecured debts that may be written off or converted into contributed capital securities under the second paragraph of section 40.50;

(s.3)  providing for the indemnification plan for the holders of shares or securities transferred under section 40.49 or the holders of shares that were cancelled or converted under the first paragraph of section 40.50 and for creditors whose debts were written off or converted under the second paragraph of that section;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  determining the standards applicable to authorized deposit institutions in relation to their commercial practices and their management practices.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90; 2009, c. 58, s. 23; 2018, c. 23, s. 382.

2018-07-13

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from financial services cooperatives, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(c.1)  establishing a fee scale for the issue of permits;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.0.1)  determining, for the purposes of the second paragraph of section 40.2.1, a method for estimating deposits of money;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  (paragraph repealed);

(e.3)  (paragraph repealed);

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except financial services cooperatives, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(h.1)  determining the rate of interest applicable to a deposit of money for the purposes of section 34.4;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining the form and tenor of the information that a security fund must provide for the purposes of the second paragraph of section 40.3.1, and when it must be provided;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(l.1)  determining audit expenses for the purposes of section 41.3;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the inspection of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Authority suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(s.1)  clarifying the application of sections 40.15 to 40.18 to the financial contracts it determines;

(s.2)  providing for the classes of negotiable and transferable unsecured debts that may be written off or converted into contributed capital securities under the second paragraph of section 40.50;

(s.3)  providing for the indemnification plan for the holders of shares or securities transferred under section 40.49 or the holders of shares that were cancelled or converted under the first paragraph of section 40.50 and for creditors whose debts were written off or converted under the second paragraph of that section;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90; 2009, c. 58, s. 23; 2018, c. 23, s. 382.

2009-12-04

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from financial services cooperatives, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(c.1)  establishing a fee scale for the issue of permits;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.0.1)  determining, for the purposes of the second paragraph of section 40.2.1, a method for estimating deposits of money;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  (paragraph repealed);

(e.3)  (paragraph repealed);

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except financial services cooperatives, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(h.1)  determining the rate of interest applicable to a deposit of money for the purposes of section 34.4;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining the form and tenor of the information that a security fund must provide for the purposes of the second paragraph of section 40.3.1, and when it must be provided;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(l.1)  determining audit expenses for the purposes of section 41.3;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the inspection of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Authority suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90; 2009, c. 58, s. 23.

2004-12-17

43. In addition to the regulatory powers assigned to it by this Act, the Authority may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from financial services cooperatives, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determining, with regard to a financial services cooperative that becomes or ceases to be, during an accounting period for premiums, a member of a security fund whose member financial services cooperatives benefit from a reduction of premium if it is advisable to grant, maintain or withdraw the reduction of premium for the unexpired portion of that accounting period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except savings and credit unions, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Authority, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Authority, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Authority and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Authority suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Authority;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193; 2004, c. 37, s. 90.

2004-02-01

43. In addition to the regulatory powers assigned to it by this Act, the Agency may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from financial services cooperatives, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determining, with regard to a financial services cooperative that becomes or ceases to be, during an accounting period for premiums, a member of a security fund whose member financial services cooperatives benefit from a reduction of premium if it is advisable to grant, maintain or withdraw the reduction of premium for the unexpired portion of that accounting period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except savings and credit unions, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Agency, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Agency, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Agency and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Agency suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Agency;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621; 2002, c. 45, s. 193.

2001-07-01

43. In addition to the regulatory powers assigned to it by this Act, the Board may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from financial services cooperatives, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determining, with regard to a financial services cooperative that becomes or ceases to be, during an accounting period for premiums, a member of a security fund whose member financial services cooperatives benefit from a reduction of premium if it is advisable to grant, maintain or withdraw the reduction of premium for the unexpired portion of that accounting period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except savings and credit unions, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Board, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Board;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  ruling upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27; 2000, c. 29, s. 621.

1999-10-22

43. In addition to the regulatory powers assigned to it by this Act, the Board may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from savings and credit unions, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determine, in the case of a savings and credit union which becomes or ceases to be, during an accounting period for premiums, affiliated with a security fund whose affiliated unions benefit by a reduction of premium, if it is expedient to grant, maintain or withdraw the reduction of premium for the unexpired portion of that period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except savings and credit unions, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Board, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Board;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  ruling upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374; 1999, c. 40, s. 27.

1999-04-01

43. In addition to the regulatory powers assigned to it by this Act, the Board may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from savings and credit unions, trust companies and savings companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determine, in the case of a savings and credit union which becomes or ceases to be, during an accounting period for premiums, affiliated with a security fund corporation whose affiliated unions benefit by a reduction of premium, if it is expedient to grant, maintain or withdraw the reduction of premium for the unexpired portion of that period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions, except trust companies and savings companies, must keep;

(h)  determining for each class of registered institutions except savings and credit unions, trust companies and savings companies, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Board, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Board;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  ruling upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14; 1987, c. 95, s. 374.

1984-12-21

43. In addition to the regulatory powers assigned to it by this Act, the Board may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(a.1)  determining, among the conditions required for the issue of a permit, the conditions respecting the control of an institution by non-resident persons and their associates, and prescribing a period within which any registered institution that is not in compliance with such conditions on the date of their coming into force shall comply therewith;

(a.2)  defining, for the purposes of application of paragraph a.1, the expressions “control of an institution by non-resident persons”, “non-resident persons” and “associates”;

(b)  determining the classes of institutions, apart from savings and credit unions and trust companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determine, in the case of a savings and credit union which becomes or ceases to be, during an accounting period for premiums, affiliated with a security fund corporation whose affiliated unions benefit by a reduction of premium, if it is expedient to grant, maintain or withdraw the reduction of premium for the unexpired portion of that period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions must keep;

(h)  determining for each class of registered institutions except savings and credit unions, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Board, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Board;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  ruling upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29; 1984, c. 47, s. 14.

1983-06-20

43. In addition to the regulatory powers assigned to it by this Act, the Board may make regulations for:

(a)  determining the conditions that must be fulfilled and the information and documents that must be furnished by any institution applying for a permit or a policy contemplated in section 34 and the conditions required for the issue of the permit or policy;

(b)  determining the classes of institutions, apart from savings and credit unions and trust companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and policies and the form and tenor of permits and policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determine, in the case of a savings and credit union which becomes or ceases to be, during an accounting period for premiums, affiliated with a security fund corporation whose affiliated unions benefit by a reduction of premium, if it is expedient to grant, maintain or withdraw the reduction of premium for the unexpired portion of that period;

(f)  determining the rates of premiums for the guarantee contemplated in section 34, the modalities of payment of the premium and the rate of interest exigible when a premium is overdue;

(g)  determining the books and accounts that each class of registered institutions must keep;

(h)  determining for each class of registered institutions except savings and credit unions, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therewith are guaranteed under this Act;

(i.1)  determining the cases in which a document attesting that a registered institution has received funds from a person must contain an indication, in the form and tenor determined by the Board, to the effect that it does not constitute a deposit within the meaning of this Act and the regulations;

(j)  defining the expression “deposit of money”, subject to the provisions of this Act;

(k)  determining, for each class of registered institutions, the form of returns or statements to be furnished, the information that such returns or statements must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns or statements which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(m.1)  determining the mode of apportionment between the registered institutions or classes of institutions of the expenses incurred for the examination of the affairs of the registered institutions and the proportions, conditions and dates of their collection;

(m.2)  determining which of the conditions required for obtaining a permit, if not respected, give rise to the suspension or cancellation of a permit under paragraph b of section 31;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(n.1)  determining, in addition to the provisions of section 37, the cases or circumstances in which deposits continue to be guaranteed, and fixing the term and the conditions of such continuance;

(n.2)  prolonging, in the cases or circumstances and on the conditions it determines, the guarantee period provided in the second paragraph of section 37;

(o)  determining which provisions of this Act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person with an institution or with a bank may be considered, for the purposes of this Act, as separate from any other deposit made by the same person with the same institution or with the same bank;

(q)  determining the information, documents and evidence that must be furnished by a depositor who demands payment in execution of the guarantee provided under this Act;

(r)  determining the form and tenor of claims and the cases in which a depositor who demands payment in execution of the guarantee provided under this Act is not required to file a claim form with the Board;

(s)  prescribing conditions governing the replacement of damaged, lost, stolen or destroyed permits and determining the cost payable for replacing them;

(t)  prescribing any form which it deems appropriate for the application of this Act;

(u)  ruling upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the administration of this Act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54; 1983, c. 10, s. 29.

1982-12-16

43. In addition to the regulatory powers assigned to it by this act, the Board may make regulations for:

(a)  determining the qualifications required of every institution applying for a permit or a policy of insurance, the conditions which it must fulfil and the information that it must furnish;

(b)  determining the classes of institutions, apart from savings and credit unions and trust companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and for insurance, and of policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(e.2)  determine the time when an application for reduction of premium may be made and the form and tenor of the application;

(e.3)  determine, in the case of a savings and credit union which becomes or ceases to be, during an accounting period for premiums, affiliated with a security fund corporation whose affiliated unions benefit by a reduction of premium, if it is expedient to grant, maintain or withdraw the reduction of premium for the unexpired portion of that period;

(f)  determining the rates of premiums for the insurance contemplated in section 34 and the terms of payment;

(g)  determining the books and accounts that each class of registered institutions must keep;

(h)  determining for each class of registered institutions except savings and credit unions, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therein are guaranteed or insured under this act;

(j)  defining the expression “deposit of money”, subject to the provisions of this act;

(k)  determining, for each class of registered institutions, the form of returns to be furnished, the information that such returns must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(o)  determining which provisions of this act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person in an institution, for the account of other persons or jointly with them, may be considered as separate from any other deposit made by the same person in the same institution;

(q)  rule upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the carrying out of this act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2; 1982, c. 52, s. 54.

1981-12-19

43. In addition to the regulatory powers assigned to it by this act, the Board may make regulations for:

(a)  determining the qualifications required of every institution applying for a permit or a policy of insurance, the conditions which it must fulfil and the information that it must furnish;

(b)  determining the classes of institutions, apart from savings and credit unions and trust companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and for insurance, and of policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(e.1)  determining, for the purposes of the application of Division VI.1, the percentage and the amount contemplated in section 40.3, the terms and conditions of payment of the premium, the interest rate exigible in the case of an outstanding premium and, where an institution becomes a registered institution during the period, the modalities of computation of the premium it must pay and the basis of such computation;

(f)  determining the rates of premiums for the insurance contemplated in section 34 and the terms of payment;

(g)  determining the books and accounts that each class of registered institutions must keep;

(h)  determining for each class of registered institutions except savings and credit unions, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therein are guaranteed or insured under this act;

(j)  defining the expression “deposit of money”, subject to the provisions of this act;

(k)  determining, for each class of registered institutions, the form of returns to be furnished, the information that such returns must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(o)  determining which provisions of this act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person in an institution, for the account of other persons or jointly with them, may be considered as separate from any other deposit made by the same person in the same institution;

(q)  rule upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the carrying out of this act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3; 1981, c. 30, s. 2.

1977-12-31

43. In addition to the regulatory powers assigned to it by this act, the Board may make regulations for:

(a)  determining the qualifications required of every institution applying for a permit or a policy of insurance, the conditions which it must fulfil and the information that it must furnish;

(b)  determining the classes of institutions, apart from savings and credit unions and trust companies, to which a permit may be issued;

(c)  determining the categories of permits, the classes of holders of permits and the conditions and restrictions respecting each category and class;

(d)  determining the form and tenor of applications for permits and for insurance, and of policies;

(e)  determining the term of the policies, the conditions upon which they may be terminated and the other provisions which they must contain;

(f)  determining the rates of premiums for the insurance contemplated in section 34 and the terms of payment;

(g)  determining the books and accounts that each class of registered institutions must keep;

(h)  determining for each class of registered institutions except savings and credit unions, the rules and standards respecting the composition and liquidity of their assets, including the categories of investments permitted and the quantitative and qualitative standards applicable to each category;

(i)  determining the only signs, marks, advertisements or other means of publicity that a registered institution may use in order to make known that the deposits of money made therein are guaranteed or insured under this act;

(j)  defining the expression “deposit of money”, subject to the provisions of this act;

(k)  determining, for each class of registered institutions, the form of returns to be furnished, the information that such returns must contain and the time when they must be filed;

(l)  prescribing, for each class of registered institutions, the scope of the audit to be made by their auditors for the purposes of the returns which they must furnish to the Board, and the form of their certificate;

(m)  determining the form of the inspection reports made for the Board and the information which they must contain;

(n)  determining the procedure to be followed and the notices to be given before the Board suspends or cancels the permit of a registered institution;

(o)  determining which provisions of this act, the regulations or a policy issued under section 34 shall cease to apply to an institution with respect to deposits which continue to be guaranteed under section 37;

(p)  prescribing the cases in which a deposit made by a person in an institution, for the account of other persons or jointly with them, may be considered as separate from any other deposit made by the same person in the same institution;

(q)  rule upon any matter requisite for its internal management and prescribing any other measure which it deems appropriate for the carrying out of this act.

1966-67, c. 73, s. 41; 1968, c. 71, s. 9; 1974, c. 72, s. 3.