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Canada Deposit Insurance Corporation Act

Version of section 45.1 from 2016-06-22 to 2018-03-25:


Marginal note:No liability for acts in good faith

  •  (1) Her Majesty in right of Canada, any servant or agent of Her Majesty, the Corporation, its directors, officers and employees and any person acting on behalf of the Corporation are not liable to any member institution, depositor with, or creditor or shareholder of, any member institution, or to any other person, for any damages, payment, compensation, contribution or indemnity that any such member institution, depositor, creditor, shareholder or other person may suffer or claim by reason of anything done or omitted to be done, in good faith, in the exercise, execution or performance — or the purported exercise, execution or performance — of any powers, duties and functions under this Act.

  • Marginal note:Obligation remains

    (2) Nothing in subsection (1) shall be construed to relieve the Corporation from the obligation to make payment in respect of a deposit insured under this Act.

  • R.S., 1985, c. 18 (3rd Supp.), s. 68
  • 2016, c. 7, s. 148
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