Canada Deposit Insurance Corporation Notice Regulations (Compensation in Respect of the Restructuring of Federal Member Institutions)

Link to law: http://laws-lois.justice.gc.ca/eng/regulations/SOR-2000-177/FullText.html

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Canada Deposit Insurance Corporation Notice Regulations (Compensation in Respect of the Restructuring of Federal Member Institutions)

SOR/2000-177CANADA DEPOSIT INSURANCE CORPORATION ACT
Registration 2000-05-04
Canada Deposit Insurance Corporation Notice Regulations (Compensation in Respect of the Restructuring of Federal Member Institutions)
P.C. 2000-630 2000-05-04Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 39.37Footnote a of the Canada Deposit Insurance Corporation Act, hereby makes the annexed Canada Deposit Insurance Corporation Notice Regulations (Compensation in Respect of the Restructuring of Federal Member Institutions).
Return to footnote aS.C. 1996, c. 16, s. 41Interpretation

1 The definitions in this section apply in these Regulations.

Act
Act means the Canada Deposit Insurance Corporation Act. (Loi)
receivership order
receivership order means an order made under paragraph 39.13(1)(b) of the Act. (Version anglaise seulement)
vesting order
vesting order means an order made under paragraph 39.13(1)(a) of the Act. (Version anglaise seulement)

Notice Relating to Offer of Compensation

2 (1) In addition to the information set out in subsection 39.25(1) of the Act, the following information must accompany a notice given by the Corporation under subsection 39.24(1) of the Act:

(a) the date of the vesting order;
(b) an explanation of the effect of the vesting order as described in subsection 39.13(2), paragraph 39.13(4)(a), subsections 39.14(1) and (3) and section 39.15 of the Act;

(c) a summary of the basis for

(i) the offer of compensation by the Corporation, in the case of a notice containing such an offer, and
(ii) no offer of compensation by the Corporation, in the case of a notice stating that no such offer is being made; and

(d) the manner in which a person must respond to the Corporation.

(2) A notice given by the Corporation under subsection 39.24(1) of the Act to a holder or their assignee or successor, as described in that subsection, must be sent or delivered to the holder, assignee or receiver at the address or number shown in the records of the federal member institution or its transfer agent on the day the vesting order is made,

(a) in person;
(b) by prepaid mail;
(c) by messenger service; or
(d) by facsimile or other electronic means.

SOR/2003-101, s. 1.

3 (1) In addition to the information set out in subsection 39.25(2) of the Act, the following information must accompany a notice given by the Corporation under subsection 39.24(2) of the Act:

(a) the date of the receivership order;
(b) an explanation of the effect of the receivership order as described in subsections 39.13(3), (4) and (5) and 39.14(2) and section 39.15 of the Act;

(c) a summary of the basis for

(i) the offer of compensation by the Corporation, in the case of a notice containing such an offer, and
(ii) no offer of compensation by the Corporation, in the case of a notice stating that no such offer is being made; and

(d) the manner in which a federal member institution must respond to the Corporation.

(2) A notice given by the Corporation to a federal member institution under subsection 39.24(2) of the Act must be sent or delivered to the institution at the address or number shown in the records of the Corporation on the day the receivership order is made

(a) in person;
(b) by prepaid mail;
(c) by messenger service; or
(d) by facsimile or other electronic means.

SOR/2003-101, s. 2.

Response to Notice Relating to Offer of Compensation

4 A notice of a person’s or a federal member institution’s acceptance of or objection to an offer of compensation made by the Corporation, or their acceptance of or objection to the fact that no offer of compensation was made by the Corporation, must be sent or delivered to the Corporation

(a) in person;
(b) by prepaid mail;
(c) by messenger service; or
(d) by facsimile or other electronic means.

Notice of Appointment of Assessor

5 A notice sent or delivered by the Corporation under section 39.3 of the Act must be sent or delivered by a method set out in subsection 2(2) or 3(2) to the following address:

(a) in the case of a notice to a dissenting offeree, to the most recent address or number shown in the records of the federal member institution or its transfer agent on the day the vesting order is made or indicated by the dissenting offeree in the notice of objection, if any; and
(b) in the case of a notice to a federal member institution, to the address or number shown in the records of the Corporation on the day the receivership order is made.

Coming into Force

6 These Regulations come into force on the day on which they are registered.