October 3, 2006
CDIC By-law Amendments
On September 27, 2006, the CDIC Board of
Directors authorized consultation through pre-publication in the Canada Gazette of a By-law to amend the CDIC
Differential Premiums By-law (DPS By-law). At the same meeting it made the amended Application
for Deposit Insurance By-law and the by-law amending the Deposit Insurance Application Fee
By-law.
Differential Premiums
By-law
The proposed amendments to this by-law are very
technical in nature. Sections 1, 3 and 4 of the proposed By-law Amending the Canada Deposit Insurance
Corporation Differential Premiums By-law (DPS Amending By-law) are being made to reflect changes to
Financial Information Committee (FIC) forms that are referenced in the DPS By-law. Section 2 addresses an
inconsistency between the English and French versions of a previous amending by-law.
Due to the technical nature of the changes, CDIC
proposes to consult only through pre-publication in Part I the Canada Gazette which is expected to take place
on October 7, 2006 and provides for a 30-day comment period. A copy of the DPS Amending By-law and its
related Regulatory Impact Analysis Statement are attached.
Application for Deposit Insurance
By-law and Deposit Insurance Application Fee By-law
We are pleased to advise that the new Canada
Deposit Insurance Corporation Application for Deposit Insurance By-law (Application By-law) and the
By-law Amending the Deposit Insurance Application Fee By-law (Fee By-law) were made by our Board of
Directors on September 27, 2006. Consultation took place through the July 1, 2006 pre-publication in Part I
of the Canada Gazette. No comments were received to the pre-publication. The by-laws come into effect on
publication in Part II of the Canada Gazette which is expected to take place on October 18, 2006. The by-laws
will be available on the CDIC web site after that date or can be obtained by contacting the
undersigned.
Matters relating to the pre-publication of the
by-law amending the Deposit Insurance Information By-law are being addressed in a separate
communication.
Please direct any inquiries or comments you may
have regarding the foregoing to the undersigned.
Yours truly,
Sandra Chisholm
Director, Insurance
(613) 943-1976 or schisholm@cdic.ca.
