4.1 The reference to “A × B × C” in paragraph 4(1)(b) shall be read as a reference to “(A × B × C) – (B × 0.015%)” for the premium year beginning on May 1, 2012 in respect of a member institution

• (a) that

  • (i) certifies in the Reporting Form for the 2012 filing year that it complies with subsections 3(1) and 4(1), (3), (4) and (5) of the Data Requirements By-law, or

  • (ii) provides the Corporation with a declaration not later than June 30, 2012 that it complies with those provisions of that By-law; and

• (b) provides or makes available to the Corporation the standardized data or the evidence referred to in subsection 5(1) of the Data Requirements By-law, or both, as requested by the Corporation.

5. The Corporation shall, before July 15 of each premium year, classify

• (a) every member institution, that is a subsidiary of one or more other member institutions, in the same premium category as the one other member institution that is not itself a subsidiary of a member institution; and

• (b) subject to section 12, every other member institution in accordance with section 7 or 8, as the case may be.

• 6. (1) The Corporation shall review the classification of every member institution that has been classified in premium category 4 in accordance with section 12 if the institution submits to the Corporation on or before April 30 of the year following the filing year

  • (a) if the institution is an institution described in paragraph 12(1)(a), audited financial statements and a revised Reporting Form or a declaration that the audited financial statements confirm the information set out in the Reporting Form and no modifications are required to be made to the Reporting Form or to the returns and documents referred to in paragraphs 15(1)(c) to (e) as previously submitted; and

  • (b) if the institution is an institution described in paragraph 12(1)(b), the declaration referred to in paragraph 7(1)(b) or the documents required by paragraphs 15(1)(a) to (e) or section 16.

• (2) The Corporation shall reclassify in accordance with section 7 or 8, as the case may be, a member institution referred to in subsection (1) if, based on the documents referred to in that subsection, such a reclassification is warranted.

• 7. (1) A member institution shall be classified in premium category 1 as set out in column 1 of Schedule 1, if

  • (a) the member institution has been operating as a member institution for less than two fiscal years consisting of at least 12 months each, determined as of the end of the fiscal year ending in the year preceding the filing year; and

  • (b) not later than April 30 of the filing year, the member institution provides the Corporation with a declaration confirming that the member institution meets the condition referred to in paragraph (a).

• (2) Subsection (1) does not apply to a member institution that

  • (a) is a subsidiary of a member institution that has been operating for at least two fiscal years consisting of at least 12 months each, determined as of the end of the fiscal year ending in the year preceding the filing year; or

  • (b) has a subsidiary that is a member institution that has been operating for at least two fiscal years consisting of at least 12 months each, determined as of the end of the subsidiary’s fiscal year ending in the year preceding the filing year.

• (2.1) A member institution that is a bridge institution shall be classified in premium category 1 as set out in column 1 of Schedule 1.

• (3) For the purpose of this section, if a member institution is formed by an amalgamation involving one or more member institutions, the amalgamated member institution shall be considered to have started operating on the same day as the amalgamating member institution that has been operating for the longest period of time.

• (4) Despite subsection (1), a member institution referred to in that subsection shall be classified in premium category 2 as set out in column 1 of Schedule 1 if it is not in compliance with the Data Requirements By-law within 18 months after the day on which it becomes a member institution.