Canada Deposit Insurance Corporation Act

Marginal note:Amount

• 12.01 (1) The amount referred to in paragraph 12(c) is one hundred thousand dollars, unless the Minister, with the Governor in Council’s authorization, determines a greater amount, in which case the amount referred to in that paragraph is the amount that the Minister determines.

• Marginal note:Stability or efficiency of financial system

  (2) The Minister may determine an amount under subsection (1) only if, in the Minister’s opinion, it is necessary to promote the stability or maintain the efficiency of the financial system in Canada.

• Marginal note:Consultation

  (3) Before determining an amount under subsection (1), the Minister shall consult the Governor of the Bank of Canada, the Superintendent, the President and Chief Executive Officer of the Corporation and the Commissioner of the Financial Consumer Agency of Canada.

• Marginal note:Publication in Canada Gazette

  (4) As soon as feasible after determining an amount under subsection (1), the Minister shall publish the amount in the Canada Gazette.

• Marginal note:Report

  (5) Every month during which the amount referred to in paragraph 12(c) is the amount that the Minister determines, the Minister shall publish a report and cause it to be tabled in each House of Parliament.