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

Version of section 6 from 2019-08-20 to 2020-11-17:

  •  (1) For the purposes of subsection 3(3) of the schedule, the following information must be disclosed on the records of the member institution:

    • (a) not later than the 90th day after the determination date,

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

      • (ii) subject to subsection 7(1), the name and address of each beneficiary, which must, if the information is disclosed on or after that date, be as of the determination date; 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 failure to disclose the information referred to in paragraph (1)(b) in respect of a particular year within the period required by that paragraph may be remedied by disclosing on the records of the member institution,

    • (a) at any time before the determination date, that information as of the April 30 before the day on which it is disclosed; or

    • (b) on or within 90 days after the determination date, that information as of the determination date.

  • SOR/2009-160, s. 1
  • SOR/2010-206, s. 4
  • SOR/2019-311, s. 3
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