Financial Consumer Protection Framework Regulations (SOR/2021-181)

Marginal note:Expected amount charged — other basis

82 If, on the first day of a fiscal quarter, an institution has not received, in any of the first four fiscal quarters of the preceding five fiscal quarters, any payments or benefits in respect of insurance from an insurer under an arrangement referred to in subsection 75(1) of these Regulations, but the institution expects to receive them from an insurer in that fiscal quarter, or in any of the three following fiscal quarters, on a basis other than that referred to in section 76 of these Regulations, then, for the purposes of subsection 627.992(2) of the Act, the amount, expressed in dollars, that is determined by multiplying the amount that the institution charges the person for insurance by each of the percentages of the total amount expected to be paid to the insurer by the institution in respect of the policies and guarantees in that fiscal quarter and the three following fiscal quarters is prescribed information.