Canada Deposit Insurance Corporation Deposit Insurance Policy By-law — 2
2 (1) In this policy, Act means the Canada Deposit Insurance Corporation Act ; ( Loi ) affiliate [Repealed, SOR/2002-117, s. 2] appropriate , in relation to a thing so described, means that a knowledgeable individual in the financial institutions industry would conclude that it is suitable for its intended purpose, having regard to the nature, magnitude, complexity and implications of the matter in question; ( adéquat ) beneficial ownership includes ownership through one or more trustees, legal representatives, agents or other intermediaries; ( véritable propriétaire ) body corporate means an incorporated body wherever or however incorporated; ( personne morale ) business plan means, in respect of a specified time period, (a) the member institution’s business objectives and a description of the short-term and long-term strategies for achieving those objectives, (b) the member institution’s market strategy, including a description of the geographic area served by the member institution, and the scope and nature of its business (e.g., types of products offered, volume of deposit-taking business, details of lending and investment objectives), (c) a detailed forecast that includes pro-forma financial statements that cover the specified time period and that identifies the assumptions made in the preparation of the forecast, and (d) an explanation of the relation between the business background and expertise of each officer and the business objectives of the member institution; ( plan d’entreprise ) effective , in relation to a thing so described, means that a knowledgeable individual in the financial institutions industry would conclude that it is achieving, or can reasonably be expected to achieve, its intended purpose; ( efficace ) entity has the same meaning as in section 2 of the Bank Act ; ( entité ) examiner has the same meaning as in subsection 1(1) of the Canada Deposit Insurance Corporation Differential Premiums By-law ; ( inspecteur ) financial statements includes a balance sheet, a statement of retained earnings, an income statement and a statement of changes in financial position; ( états financiers ) forecast means information in respect of prospective results of operations and the financial position or changes in the financial position of an entity, based on assumptions made in respect of future economic conditions and planned courses of action for a specified period, given management’s judgment as to the most probable set of economic conditions; ( prévisions ) group entity means, in respect of a member institution, (a) an entity in which the member institution or any of its subsidiaries or affiliates holds, directly or indirectly, an ownership interest of 10 % or more, or (b) a business enterprise that the member institution or any of its subsidiaries or affiliates operates with other persons for profit, including a joint venture or a special purpose vehicle; ( entité du groupe ) influence [Repealed, SOR/2002-117, s. 2] officer means, in respect of an entity, a chief executive officer, president, vice-president, secretary, controller, treasurer, chief financial officer or general manager or any other natural person who performs functions similar to those normally performed by an individual occupying one of those offices; ( dirigeant ) person means a natural person, an entity or a personal representative; ( personne ) prescribed information means the following information: (a) the category in which the member institution is classified under the Canada Deposit Insurance Corporation Differential Premiums By-law , (b) the premium rate assigned to the member institution under that By-law, (c) the total score assigned to the member institution under that By-law, (d) any score assigned to the member institution in respect of quantitative factors or qualitative factors or criteria under that By-law, (e) any rating assigned by the examiner to the member institution to assess its financial condition, (f) [Repealed, SOR/2005-11