1 The following definitions apply in these Regulations.
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 has the same meaning as in section 2 of the Bank Act. (banque étrangère autorisée)
foreign fraternal benefit society has the same meaning as in section 571 of the Insurance Companies Act. (société de secours étrangère)
foreign life company has the same meaning as in section 571 of the Insurance Companies Act. (société d’assurance-vie étrangère)
life company has the same meaning as in subsection 2(1) of the Insurance Companies Act. (société d’assurance-vie)
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 has the same meaning as in section 2 of the Cooperative Credit Associations Act. (association de détail)
society has the same meaning as in subsection 2(1) of the Insurance Companies Act. (société de secours)
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(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).
9 (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
8 The base assessment amount for a financial institution that is a property and casualty insurer is, for any fiscal year, equal to
7 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