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Canada Deposit Insurance Corporation Act

Version of section 39.372 from 2012-05-24 to 2024-04-01:


Marginal note:Non-liability with respect to employees

  •  (1) If a bridge institution becomes the employer of employees of a federal member institution, the bridge institution is not liable in respect of a liability, including one as a successor employer,

    • (a) that is in respect of the employees or former employees of the federal member institution or a predecessor of the federal member institution or in respect of a pension plan for the benefit of those employees or former employees; and

    • (b) that exists before the bridge institution becomes the employer or that is calculated by reference to a period before the bridge institution becomes the employer.

  • Marginal note:Liability of other successor employers

    (2) Subsection (1) does not affect the liability of a successor employer other than the bridge institution.

  • 2009, c. 2, s. 251
  • 2012, c. 5, s. 201

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