Canada Deposit Insurance Corporation Act (R.S.C., 1985, c. C-3)

Act current to 2013-05-26 and last amended on 2012-12-19. Previous Versions

Marginal note:Remuneration and benefits

39.3719 An employee or officer of the Corporation shall not receive remuneration or benefits from a bridge institution for being a director or officer of that institution.

  • 2009, c. 2, s. 251.
Marginal note:Non-liability with respect to employees

  • 39.372 (1) If a bridge institution becomes the employer of employees of a federal member institution, the bridge institution is not liable in respect of a liability, including one as a successor employer,

    • (a) that is in respect of the employees or former employees of the federal member institution or a predecessor of the federal member institution or in respect of a pension plan for the benefit of those employees or former employees; and

    • (b) that exists before the bridge institution becomes the employer or that is calculated by reference to a period before the bridge institution becomes the employer.

  • Marginal note:Liability of other successor employers

    (2) Subsection (1) does not affect the liability of a successor employer other than the bridge institution.

  • 2009, c. 2, s. 251;
  • 2012, c. 5, s. 201.
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Marginal note:Corporation’s directions

  • 39.3721 (1) The Corporation may give directions to the board of directors of a bridge institution.

  • Marginal note:Notification of implementation

    (2) After implementing a direction, the board of directors of the bridge institution shall notify the Corporation without delay that the direction has been implemented.

  • 2009, c. 2, s. 251.
Marginal note:By-laws — Corporation

  • 39.3722 (1) The Corporation may give directions to the board of directors of a bridge institution to make, amend or repeal any by-law.

  • Marginal note:By-laws — board of directors

    (2) The board of directors of a bridge institution may, with the approval of the Corporation, make, amend or repeal any by-law.

  • Meaning of “by-law”

    (3) For the purposes of subsections (1) and (2), “by-law” means a by-law of the bridge institution.

  • 2009, c. 2, s. 251.
Marginal note:Regulation to exempt or adapt

  • 39.3723 (1) The Governor in Council may, by regulation,

    • (a) exempt federal member institutions in respect of which an order directing the incorporation of a bridge institution is made, bridge institutions or subsidiaries of any of those institutions, or any class of those institutions or class of their subsidiaries, or any other person from the application of any provision of this Act or the regulations or of the following Acts or regulations made under them:

    • (b) provide that any provision of this Act or the regulations or of the Acts referred to in paragraph (a) or regulations made under them applies to federal member institutions in respect of which an order directing the incorporation of a bridge institution is made, bridge institutions or subsidiaries of any of those institutions, or any class of those institutions or class of their subsidiaries, or any other person but only in the manner and to the extent provided for in the regulation and adapt that provision for the purpose of that application.

  • Marginal note:Scope or conditions

    (2) The exemption may be limited in scope or duration or subject to conditions.

  • 2009, c. 2, s. 251;
  • 2012, c. 5, s. 202.
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