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

Version of section 7 from 2019-08-20 to 2020-11-17:

  •  (1) The information referred to in section 5 and subparagraph 6(1)(a)(ii) is not required to be disclosed on the records of the member institution if the information referred to in subsection (2) is disclosed in its place and the deposit is held in trust by

    • (a) the public trustee of a province or a similar public official whose duties involve holding moneys in trust for others;

    • (b) a federal, provincial or municipal government, or a department or agency thereof;

    • (c) a solicitor or partnership of solicitors, a law corporation, or a notary or partnership of notaries in the province of Quebec, when they act in that capacity as a trustee of moneys for others;

    • (d) a person who is acting as a trustee of moneys for others in the course of business and is required by or under a statute to hold the deposit in trust;

    • (e) a person who is acting as a trustee of moneys for others in the course of business and is subject to the rules of a securities commission, stock exchange or other regulatory or self-regulating organization that audits compliance with those rules; or

    • (f) a regulated federal or provincial trust company acting in the capacity of a depositor.

  • (2) For the purposes of subsection (1), the information that is to be disclosed on the records of a member institution is a separate alphanumeric code or other identifier, in respect of each beneficiary, that can be found in records kept by the depositor that contain an up-to-date list of

    • (a) the name and address of each beneficiary; and

    • (b) particulars of the amount or percentage of each beneficial interest.

  • SOR/2010-206, s. 6
  • SOR/2019-311, s. 5
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