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4.1 For each premium year that begins after April 30, 2021, the reference to “A × B × C” in paragraph 4(1)(b) shall, in respect of a member institution that is required to develop and maintain a resolution plan under section 39.01 of the Act, be read as

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• 4 (1) For the purpose of paragraph 21(1)(a) of the Act, the annual premium for each member institution is equal to the greater of

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  • (b) subject to subsections (1.1) and (2), the result determined in accordance with the formula

    A × B × C

    where

    A 

    is one third of one per cent, or any smaller proportion of one per cent that is fixed by the Governor in Council under paragraph 21(4)(b) of the Act,

    B 

    is an amount equal to the sum of the deposits referred to in paragraph 21(4)(b) of the Act, and

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• (2) If a member institution is reclassified under section 6, the following formula shall be used to determine the result for the purposes of paragraph (1)(b):

  (D × (E ÷ H)) + (F × (G ÷ H))

  where

  E 

  is the number of days during the period beginning on May 1 of the filing year and ending on the day on which the Corporation receives the declaration referred to in paragraph 7(1)(b) or the documents required by subsection 15(1) or section 16 from the member institution;

  G 

  is the number of days during the period beginning on the day after the day on which the Corporation receives the declaration referred to in paragraph 7(1)(b) or the documents required by subsection 15(1) or section 16 from the member institution and ending on April 30 of the year following the filing year referred to in E.

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• 2 (1) Section 3 applies, for the purpose of subsection 23(1) of the Act, in respect of the calculation of the premium payable by a member institution referred to in that subsection.

• (2) Sections 4 to 30 apply in respect of the calculation of the annual premium payable by a member institution for a full premium year.

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• (2) The following score shall be assigned to an amalgamated member institution referred to in subsection (1) in respect of quantitative factors:

  • (a) where the amalgamated member institution has a fiscal year ending in the year preceding the filing year, the sum of the scores assigned to that institution under sections 20 to 27; and

  • (b) where the amalgamated member institution does not have a fiscal year ending in the year preceding the filing year,

    • (i) if only one of the amalgamating institutions is a member institution, the sum of the scores assigned to that member institution under sections 20 to 27, and

    • (ii) if two or more of the amalgamating institutions are member institutions, the highest of the sums of the scores assigned to each of those amalgamating member institutions under sections 20 to 27.

• (3) The score assigned to an amalgamated member institution referred to in subsection (1) in respect of qualitative factors and criteria shall consist of the sum of

  • (a) the score assigned to it under section 28 or, if no score can be assigned to it under that section, the score that would have been assigned under section 28 to the amalgamating member institution whose score in respect of quantitative factors was used to determine the score of the amalgamated member institution in respect of those factors for the purpose of subsection (2), if that section applied to that amalgamating member institution, and

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  • (c) the score assigned to the amalgamated member institution under section 30.

• (4) Where section 10 and this section both apply in respect of a member institution, this section shall prevail.

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