CONSOLIDATION

Exemption from Deposit Insurance By-law (Interest on Deposits)

SOR/99-383

Current to June 20, 2022



OFFICIAL STATUS OF CONSOLIDATIONS Subsections 31(1) and (3) of the Legislation Revision and Consolidation Act, in force on June 1, 2009, provide as follows: Published consolidation is evidence

31 (1) Every copy of a consolidated statute or consolidated regulation published by the Minister under this Act in either print or electronic form is evidence of that statute or regulation and of its contents and every copy purporting to be published by the Minister is deemed to be so published, unless the contrary is shown. ... Inconsistencies in regulations

(3) In the event of an inconsistency between a consolidated regulation published by the Minister under this Act and the original regulation or a subsequent amendment as registered by the Clerk of the Privy Council under the Statutory Instruments Act, the original regulation or amendment prevails to the extent of the inconsistency.

LAYOUT The notes that appeared in the left or right margins are now in boldface text directly above the provisions to which they relate. They form no part of the enactment, but are inserted for convenience of reference only.

NOTE This consolidation is current to June 20, 2022. Any amendments that were not in force as of June 20, 2022 are set out at the end of this document under the heading “Amendments Not in Force”.

Current to June 20, 2022

TABLE OF PROVISIONS Exemption from Deposit Insurance By-law (Interest on Deposits) 1

Determination of Interest

Coming into Force

Current to June 20, 2022

ii

Registration SOR/99-383 October 5, 1999

CANADA DEPOSIT INSURANCE CORPORATION ACT Exemption from Deposit Insurance By-law (Interest on Deposits)

The Board of Directors of the Canada Deposit Insurance Corporation, pursuant to paragraph 11(2)(g)a and subparagraph 26.03(1)(d)(ii)b of the Canada Deposit Insurance Corporation Act, hereby makes the annexed Exemption from Deposit Insurance By-law (Interest on Deposits). September 29, 1999

a

R.S., c. 18 (3rd Supp.), s. 51

b

S.C. 1999, c. 28, s. 102

Current to June 20, 2022

Exemption from Deposit Insurance By-law (Interest on Deposits)

Determination of Interest 1 For the purpose of subparagraph 26.03(1)(d)(ii) of the

Canada Deposit Insurance Corporation Act, the interest payable in relation to a deposit shall be determined in the following manner: (a) if the deposit contract specifies that the interest

payable is to be determined by reference to an index or reference point referred to in subsection 14(2.51) of the Act, in accordance with the Interest Payable on Certain Deposits By-law, except that the interest termination date referred to in that By-law is deemed to be the date on which payment is made under subparagraph 26.03(1)(d)(ii) of the Act; and (b) in any other case, in accordance with the provisions of the deposit contract, except that the maturity date of the deposit is deemed to be the date on which payment is made under that subparagraph.

Coming into Force 2 This By-law comes into force on October 15, 1999.

Current to June 20, 2022

