Canada Deposit Insurance Corporation Act
Marginal note:Part VII of Bank Act, etc., inapplicable
Marginal note:Public holding requirement re parent
(2) An exemption from the application of section 385 of the Bank Act, section 411 of the Insurance Companies Act or section 379 of the Trust and Loan Companies Act that is granted under section 388 of the Bank Act, section 414 of the Insurance Companies Act or section 382 of the Trust and Loan Companies Act continues in force notwithstanding that the entity that controls the bank, insurance company, trust company or loan company is a federal member institution the shares of which are vested in the Corporation by an order made under paragraph 39.13(1)(a).
(3) Subsections (1) and (2) cease to apply in respect of a federal member institution on the date specified in a notice described in subsection 39.2(3) in respect of the federal member institution.
- 1992, c. 26, s. 11
- 1996, c. 6, s. 41
- 2001, c. 9, s. 213
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