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Canada Deposit Insurance Corporation Joint and Trust Account Disclosure By-Law

Version of section 6 from 2009-06-03 to 2010-12-31:

  •  (1) For the purposes of subsection 3(3) of the schedule, where a depositor is acting as trustee for two or more beneficiaries, the following information is to be disclosed by the depositor on the records of the member institution:

    • (a) before the determination date,

      • (i) a statement that the deposit is the subject of a trust under which there are multiple beneficiaries, and

      • (ii) subject to subsection 7(1), the names and addresses of each beneficiary; and

    • (b) within 30 days after April 30 of each year, particulars of the amount or percentage of each beneficial interest as of April 30 of the year.

  • (2) A depositor may remedy a failure to disclose the information referred to in paragraph 6(1)(b) in respect of a particular year within the time required by that paragraph by disclosing, within 30 days after April 30 of any year following that year but before the determination date, the required information as of April 30 of the year in which it is disclosed.

  • SOR/2009-160, s. 1
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