CDIC Act definition
Examples of CDIC Act in a sentence
By its acquisition of an interest in any Bail-inable Security, each Holder or Beneficial Owner of that Bail-inable Security shall be deemed to attorn and submit to the jurisdiction of the courts in the Province of Ontario with respect to actions, suits and proceedings arising out of or relating to the operation of the CDIC Act and the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the Indenture and the Bail-inable Security.
Bail-inable Notes attorns to the jurisdiction of the courts in the Province of Ontario with respect to the operation of the CDIC Act.
The C.D.I.C. Act does not cover funds on deposit with a credit union or Alberta Treasury Branch.
Security deposit trust accounts with banks, trust companies and loan companies are insured to a limit of $100,000.The insurance protection for funds deposited in banks, trust companies and loan companies is provided by the C.D.I.C. Act.
The Covered Bonds will not be deposits insured under the CDIC Act or under any other governmental insurance scheme of any country.
The Principal At Risk Notes will not be deposits insured under the CDIC Act.
Resolution Planning serves as a guide to the effective use of CDIC’s powers, as set out in the CDIC Act, to resolve a large member in the event that the member’s own recovery measures are not feasible or have proven to be ineffective.
On April 20, 2016, the Budget Implementation Act was tabled, providing amendments to the CDIC Act, Bank Act (Canada), and other statutes to allow for bail-in.
Subordinated Notes do not constitute deposits of CIBC and will not constitute deposits that are insured under the CDIC Act.
An order under Section 39.13(1) of the CDIC Act prior to the date fixed for redemption of any Bail-inable Note shall automatically rescind any such notice of redemption and in such circumstances, no Bail-inable Notes shall be redeemed and no payment in respect of the rescinded redemption shall be due and payable.