Canada Deposit Insurance Corporation Act — C-3 39.15
ution or a third party, (vi) the transfer to a third party of all or part of the assets or liabilities of the federal member institution or any of its affiliates, (vii) a conversion under subsection 39.2(2.3) in respect of the federal member institution, or (viii) a conversion of any of the federal member institution’s shares or liabilities in accordance with the contractual terms of those shares or liabilities. Clearing arrangements (3) Subsections (1) to (2.1) do not apply so as to prevent a member of the Canadian Payments Association from acting or ceasing to act as a clearing agent for a federal member institution in accordance with the Canadian Payments Act and the by-laws and rules of that Association. Exception (3.1) Despite subsection (3), if a clearing agent that is a member of the Canadian Payments Association acts in that capacity for a federal member institution at the time an order is made under subsection 39.13(1) in respect of the institution, the clearing agent shall continue to act in that capacity for the institution after the order is made, if the Corporation has given an undertaking to provide the financial assistance that the institution needs in order to discharge its obligations to the clearing agent as they become due. Clearing house (3.2) Subsections (1) to (2.1) do not apply so as to prevent a clearing house (a) from acting or ceasing to act in that capacity for a federal member institution; or (b) from exercising its rights under its settlement rules , as defined in subsection 8(5) of the Payment Clearing and Settlement Act . Exception (3.3) Despite subsection (3.2), a clearing house that acts in that capacity for a federal member institution at the time an order is made under subsection 39.13(1) in respect of the institution shall continue to act in that capacity for the institution and subsections (1) to (2.1) apply in respect of the clearing house, if the Corporation has given an undertaking to provide the financial assistance that the institution needs in order to discharge its obligations to the clearing house as they become due. Rights subject to set-off or compensation (4) A federal member institution in respect of which an order is made under subsection 39.13(1) may not enforce against a person a right to receive an amount against which the person, but for paragraph (1)(d), would have a right of set-off or compensation. Further supplies and advances (5) Nothing in subsection (1) or (2) shall be construed (a) as prohibiting a person from requiring payments to be made in cash for goods, services, use of leased or licensed property or other valuable consideration provided after the making of the order; (b) as requiring the advance to a federal member institution in respect of which an order is made under subsection 39.13(1) of money or credit after the making of the order; or (c) as requiring the provision to a federal member institution in respect of which an order is made under subsection 39.13(1) of any of the following services where to do so would be likely, in the reasonable opinion of the person providing the service, to result in that person advancing money or credit to the federal member institution after the making of the order or to give rise, after the making of the order, to a claim of that person against the federal member institution, namely, (i) cash management services, (ii) services related to the redemption of debt instruments, (iii) services related to the issuance of letters of credit or guarantees, (iv) cheque certification services, (v) currency supply services, (vi) funds transfer services and remittance order services, (vii) securities delivery and settlement services, (viii) charge, credit, debit and payment card services, (ix) automated banking and teller machine services, (x) electronic funds transfer at point of sale services, (xi) consignment cheque services, (xii) other services similar to those referred to in subparagraphs (i) to (xi), (xiii) any service of a kind