Protection of Assets (Cooperative Credit Associations) Regulations

8 An association shall, on a daily basis, deposit any net amount received by the association as a result of any security transaction in an account kept by the association

• (a) in the association;

• (b) with a financial institution that is authorized to accept deposits by a law of the jurisdiction where the financial institution is carrying on business;

• (c) with a trust company that is authorized to hold money in trust by a law of the jurisdiction where the trust company carries on business;

• (d) with the government of the jurisdiction in which the association is carrying on business, or with an agency thereof that is authorized to act as a custodian of securities; or

• (e) with The Canadian Depository for Securities Limited.