Canada Deposit Insurance Corporation Differential Premiums By-law

10 Subject to subsections 11(4) and 12(2), if a member institution that started operating as a member institution after April 30 of the year preceding the filing year would be classified in premium category 1 in accordance with section 7 if it did not have any subsidiaries of the type described in paragraph 7(2)(b), the Corporation shall assign to that institution the highest of the total scores assigned to each of its subsidiaries that

• (a) on the day preceding the day that the institution started to operate as a member institution was not a subsidiary of another member institution; and

• (b) is not a subsidiary of another member institution.