Canada Deposit Insurance Corporation Act

Marginal note:Payment of compensation

• 39.35 (1) The Corporation shall make the payment or delivery required by section 39.28 or 39.32 to the person who in the opinion of the Corporation appears to be entitled to it.

• Marginal note:Time for payment

  (2) The Corporation shall make the payment or delivery required by section 39.28 within sixty days after the date of the notice referred to in subsection 39.24(1).

• Marginal note:Time for payment

  (3) The Corporation shall make the payment required by section 39.32 within thirty days after the expiration of the period for making an application for judicial review of the determination of the assessor under the Federal Courts Act or, if such an application is made, within thirty days after the application is finally disposed of.

• Marginal note:Discharge of liability

  (4) Payment or delivery under this section by the Corporation in respect of any share or subordinated debt discharges the Corporation from all liability in respect of the share or subordinated debt and in no case is the Corporation under any obligation to see to the proper application in any way of any such payment.