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

Act current to 2013-04-29 and last amended on 2012-12-19. Previous Versions

RESTRUCTURING OF PROVINCIAL MEMBER INSTITUTIONS

Marginal note:Federal-provincial agreements

  • 39.38 (1) The Minister may, with the approval of the Governor in Council, enter into an agreement with an appropriate provincial minister providing for the application of any of sections 39.1 to 39.37 to provincial member institutions incorporated under the laws of that province.

  • Marginal note:Orders

    (2) Where an agreement has been entered into with an appropriate provincial minister, the Governor in Council may make orders, which may not be inconsistent with the agreement, providing for the application of any of sections 39.1 to 39.37 to provincial member institutions incorporated under the laws of that province and adapting any of the provisions of those sections in their application to those provincial member institutions.

  • 1996, c. 6, s. 41.

FINANCIAL

Marginal note:Financial year

40. The financial year of the Corporation shall end on December 31 in each year unless the Governor in Council otherwise directs.

  • R.S., c. C-3, s. 34;
  • 1984, c. 31, s. 14.
Marginal note:Deposit accounts

41. The Corporation may maintain in its own name one or more accounts

  • (a) with the Bank of Canada;

  • (b) with any member institution; and

  • (c) with the approval of the Minister, with any financial institution outside Canada.

  • R.S., 1985, c. C-3, s. 41;
  • R.S., 1985, c. 18 (3rd Supp.), s. 65.

42. [Repealed, 1996, c. 6, s. 42]

Marginal note:Auditor

43. The Auditor General of Canada is the auditor of the Corporation.

  • R.S., c. C-3, s. 38;
  • 1976-77, c. 34, s. 30(F);
  • 1984, c. 31, s. 14.

STAFF

Marginal note:Employment of staff

  • 44. (1) The Corporation may, notwithstanding any other Act, employ such officers, agents and employees as are necessary for the purposes of the Corporation and, subject to section 45, the officers, agents and employees of the Corporation shall be deemed not to be employed in the federal public administration.

  • Marginal note:Oath of fidelity and secrecy

    (2) Each officer, agent or employee of the Corporation shall, before entering on his or her duties with the Corporation, take an oath of fidelity and secrecy in the form prescribed by the by-laws.

  • Marginal note:Use of departmental facilities

    (3) In carrying out its functions under this Act, the Corporation may, with the approval of the Minister, make use of the personnel, facilities and services of the Office of the Superintendent of Financial Institutions and the Department of Finance to any extent not incompatible, in the opinion of the Minister, with the administration of that Office or Department.

  • R.S., 1985, c. C-3, s. 44;
  • R.S., 1985, c. 18 (3rd Supp.), s. 67;
  • 2003, c. 22, s. 224(E);
  • 2012, c. 5, s. 206(E).
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