Canada Deposit Insurance Corporation Act
(2) If a member institution intends to cease to accept deposits, it must notify the Corporation and the institution’s policy of deposit insurance may, subject to subsection (3), be cancelled by the Corporation.
Marginal note:No cancellation in certain cases
(3) The Corporation shall notify the Minister and the Superintendent of the action it is proposing to take under subsection (1) or (2) and it shall not take the action if it is advised by the Minister that in the opinion of the Minister taking the action would not be in the public interest.
- R.S., 1985, c. C-3, s. 33
- R.S., 1985, c. 18 (3rd Supp.), s. 62
- 1996, c. 6, s. 38
- 2007, c. 6, s. 415
- Date modified: