jswizzle3737/ontario_laws_and_regs huggingface dataset:
Definition
1. In this Regulation, “deposit”, for the purpose of deposit insurance, has the meaning set out in the by-laws of the Corporation. O. Reg. 78/95, s. 1. Investment of Funds
Investment of Funds
2. (1) For the purposes of section 269 of the Act, the Corporation may invest any funds not required in carrying out its objectives in the classes of securities in which a credit union may invest its funds. (2) The Corporation shall keep invested more than 50 per cent of the book value of its investments in the following: 1. Cash on hand or on deposit in a bank listed in Schedule I or II to the Bank Act (Canada), a loan or trust corporation registered under the Loan and Trust Corporations Act, a league, Credit Union Central of Canada or Caisse Centrale Desjardins. 2. Subject to subsection (3), unencumbered debentures, bonds, stocks or other securities of or guaranteed by the Government of Canada, the government of a province or territory, a municipality or an agency of any of them. 3. Subject to subsection (3), guaranteed investment certificates issued by a trust corporation registered under the Loan and Trust Corporations Act. (3) The Corporation shall not keep invested more than 20 per cent of the book value of its total assets in any one of the investments referred to in paragraph 2 or 3 of subsection (2). O. Reg. 78/95, s. 2.
Investment of Funds
3. For the purposes of section 269 of the Act, the Corporation’s investments are subject to the same restrictions that apply with respect to investments made by credit unions. O. Reg. 78/95, s. 3. Deposit Insurance Limit
Deposit Insurance Limit
4. For the purposes of clause 270 (1) (b) of the Act, the Corporation shall not insure the amount of any one deposit that exceeds $100,000. O. Reg. 78/95, s. 4; O. Reg. 620/99, s. 1. Payment of Interest
Payment of Interest
5. Interest is payable under subsection 270 (5) of the Act for the period beginning when the obligation to make a payment under subsection 270 (2) of the Act arises and ending when the payment is made. O. Reg. 78/95, s. 5.
Payment of Interest
6. The maximum amount of interest payable under subsection 270 (5) of the Act on a deposit is the amount that, when added to the amount of the deposit, equals $100,000. O. Reg. 78/95, s. 6; O. Reg. 620/99, s. 2. Amalgamations
Amalgamations
7. For the purposes of subsection 271 (3) of the Act (deposits with amalgamated credit union), the prescribed amount is $100,000. O. Reg. 78/95, s. 7; O. Reg. 620/99, s. 3.
Amalgamations
8. Revoked: O. Reg. 316/98, s. 1. Annual Premium
Annual Premium
10. A credit union or league shall pay its annual premium within 30 days after the date of the invoice for the premium. O. Reg. 78/95, s. 10.
Annual Premium
11. A credit union or league shall file an audited statement of its deposits with the Corporation at such time as the Corporation directs and respecting such period as the Corporation directs. O. Reg. 78/95, s. 11.
Annual Premium
12. Omitted (revokes other Regulations). O. Reg. 78/95, s. 12.
Annual Premium
13. Omitted (provides for coming into force of provisions of this Regulation). O. Reg. 78/95, s. 13. FORM 1 Revoked: O. Reg. 316/98, s. 2. Français