Canada Deposit Insurance Corporation Act
Marginal note:Terms and conditions of transactions
39.201 (1) If the Corporation as receiver for a federal member institution carries out a transaction with a bridge institution, the Corporation shall establish the terms and conditions of the transaction, including
(a) which assets the bridge institution shall acquire and the consideration to be paid for the assets acquired; and
(b) which liabilities the bridge institution shall assume and the consideration to be paid for the liabilities assumed.
Marginal note:Reasonable consideration
(2) The consideration referred to in paragraph (1)(a) shall be reasonable in the circumstances.
(3) Nothing in subsections (1) and (2) prevents the federal member institution from seeking compensation under subsections 39.24(2) and (3) and sections 39.25 to 39.361.
- 2009, c. 2, s. 248
- Date modified: