Canada Deposit Insurance Corporation Deposit Insurance Information By-law

9 (1) Subject to subsection (2), if a member institution issues an instrument to a person evidencing that the member institution has received or is holding money that constitutes a deposit that is not eligible to be insured by the Corporation, the member institution shall include on the face of the instrument a warning statement in substantially the same words as one of the following statements:

• (a) “Not insured by the CDIC”;

• (b) “Not insured by the Canada Deposit Insurance Corporation”; or

• (c) “The deposit evidenced by this instrument does not constitute a deposit that is insured under the Canada Deposit Insurance Corporation Act”.

(2) If a member institution issues an instrument to a person evidencing that the member institution has received or is holding money that constitutes both a deposit that is eligible to be insured by the Corporation and a deposit that is not eligible to be insured by the Corporation, the member institution shall include on the face of the instrument, in the location specified, if any, a warning statement in substantially the same words as one of the following statements:

• (a) [Repealed, SOR/2019-186, s. 4]

• (b) “The following deposits evidenced by this instrument do not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act:” before the list of deposits that are not eligible to be insured by the Corporation;

• (c) “Not insured by the CDIC” beside the reference to each deposit that is not eligible to be insured by the Corporation;

• (d) “Not insured by the Canada Deposit Insurance Corporation” beside the reference to each deposit that is not eligible to be insured by the Corporation; or

• (e) “Not insured by the CDIC” in a footnote the reference mark for which is located beside the reference to each deposit that is not eligible to be insured by the Corporation.

(3) If a member institution enters into a transaction with a person by means of telecommunications, or by electronic or other means, with respect to an instrument, the member institution shall

• (a) in the case of an oral communication,

  • (i) make an oral representation that is substantially the same as one of the statements set out in subsection (2), and

  • (ii) issue to the person in writing, by telecommunications or by electronic or other means, a notice that includes one of the statements set out in subsection (2); or

• (b) in the case of a communication in writing, issue to the person in writing, by means of telecommunications or by electronic or other means, a notice that includes one of the statements set out in subsection (2).