Canada Deposit Insurance Corporation Act

Marginal note:Non-liability with respect to employees

• 39.372 (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.