Government of Canada / Gouvernement du Canada
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Canada Deposit Insurance Corporation Act

Version of section 39.201 from 2009-07-01 to 2018-03-25:

Marginal note:Terms and conditions of transactions

  •  (1) If the Corporation as receiver for a federal member institution carries out a transaction with a bridge institution, the Corporation shall establish the terms and conditions of the transaction, including

    • (a) which assets the bridge institution shall acquire and the consideration to be paid for the assets acquired; and

    • (b) which liabilities the bridge institution shall assume and the consideration to be paid for the liabilities assumed.

  • Marginal note:Reasonable consideration

    (2) The consideration referred to in paragraph (1)(a) shall be reasonable in the circumstances.

  • Marginal note:Compensation

    (3) Nothing in subsections (1) and (2) prevents the federal member institution from seeking compensation under subsections 39.24(2) and (3) and sections 39.25 to 39.361.

  • 2009, c. 2, s. 248

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