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)

• 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.

• 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.