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  1. Assessment of Financial Institutions Regulations, 2017 - SOR/2016-297 (Section 1)
    Assessment of Financial Institutions Regulations, 2017

     The following definitions apply in these Regulations.

    approved mortgage insurer

    approved mortgage insurer  means an approved mortgage insurer within the meaning of section 2 of the Protection of Residential Mortgage or Hypothecary Insurance Act or a corporation or company that is treated as if it were an approved mortgage insurer in accordance with subsection 6(4) or 7(1) of that Act, respectively. (assureur hypothécaire agréé)

    authorized foreign bank

    authorized foreign bank  has the same meaning as in section 2 of the Bank Act. (banque étrangère autorisée)

    foreign fraternal benefit society

    foreign fraternal benefit society  has the same meaning as in section 571 of the Insurance Companies Act. (société de secours étrangère)

    foreign life company

    foreign life company  has the same meaning as in section 571 of the Insurance Companies Act. (société d’assurance-vie étrangère)

    life company

    life company  has the same meaning as in subsection 2(1) of the Insurance Companies Act. (société d’assurance-vie)

    minimum assessment

    minimum assessment  means the amount determined in accordance with subsection 3(1) in respect of a financial institution, as adjusted in accordance with subsection 3(2). (cotisation minimale)

    retail association

    retail association  has the same meaning as in section 2 of the Cooperative Credit Associations Act. (association de détail)

    society

    society  has the same meaning as in subsection 2(1) of the Insurance Companies Act. (société de secours)


  2. Assessment of Financial Institutions Regulations, 2017 - SOR/2016-297 (Section 10)
    Assessment of Financial Institutions Regulations, 2017
    Marginal note:Stage rating assigned
    • [...]

    • (4) The amount of the surcharge to be assessed for any fiscal year in respect of a financial institution must not exceed an amount equal to

      • (a) in the case of a surcharge referred to in paragraph (1)(a) or (2)(a), 0.2% of the assets of the institution as reported during the preceding fiscal year in the financial or annual return referred to in paragraphs 4(a) to (e); and

      • (b) in the case of a surcharge referred to in paragraph (1)(b) or (2)(b), 0.4% of the assets of the institution as reported during the preceding fiscal year in the financial or annual return referred to in paragraphs 4(a) to (e).


  3. Assessment of Financial Institutions Regulations, 2017 - SOR/2016-297 (Section 9)
    Assessment of Financial Institutions Regulations, 2017
    Marginal note:Calculation
    •  (1) Subject to subsection (2), the base assessment amount for a financial institution that is a mortgage insurance company is, for any fiscal year, equal to

      • [...]

      • (b) in any other case, the aggregate of the minimum assessment and the amount determined by the formula

        D/E × (C - F)

        where

        C 
        is as described in paragraph (a),

  4. Assessment of Financial Institutions Regulations, 2017 - SOR/2016-297 (Section 8)
    Assessment of Financial Institutions Regulations, 2017

     The base assessment amount for a financial institution that is a property and casualty insurer is, for any fiscal year, equal to

    • [...]

    • (b) in any other case, the aggregate of the minimum assessment and the amount determined by the formula

      D/E × (C - F)

      where

      C 
      is as described in paragraph (a),

  5. Assessment of Financial Institutions Regulations, 2017 - SOR/2016-297 (Section 7)
    Assessment of Financial Institutions Regulations, 2017

     The base assessment amount for a financial institution that is a life company, a society, a foreign life company or a foreign fraternal benefit society is, for any fiscal year, equal to

    • [...]

    • (b) in any other case, the aggregate of the minimum assessment and the amount determined by the formula

      D/E × (C - F)

      where

      C 
      is as described in paragraph (a),


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