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Deposit Insurance

Cap. 251:01 · Revised Edition 2020 · 47 sections

• s. 1Short title
• s. 2Interpretation
• s. 3Objective
• s. 4Establishment of the Corporation
• s. 5Capital of the Corporation
• s. 6Board of the Corporation
• s. 7Chief Executive Officer
• s. 8Staff of the Corporation
• s. 9Relationship with the Central Bank and Government
• s. 10Seal of the Corporation
• s. 11Establishment of the Fund
• s. 12Membership in the Fund
• s. 13Payments into the Fund
• s. 14Minimum target size of Fund
• s. 15Use of the Fund
• s. 16Investment of the Fund
• s. 17Borrowing for the Fund
• s. 18Duty to pay contribution and premium
• s. 19Central Bank contribution to the Fund
• s. 20Review of annual premium
• s. 21Recalculation and refund
• s. 22Late payment fees
• s. 23Consequences for failure to pay
• s. 24Extraordinary premium
• s. 25Covered events
• s. 26Insured depositor
• s. 27Insurable deposits
• s. 28Insured limit, generally
• s. 29Insured limit, credit unions
• s. 30Exclusion from deposit insurance
• s. 31Time and manner of payment
• s. 32Deposit insurance without prejudice to claim
• s. 33Subrogation
• s. 34Priority of claims in liquidation
• s. 35Falsification of deposit information
• s. 36Offences by Fund member
• s. 37False statement about Fund membership
• s. 38Accepting deposits without Fund membership
• s. 39Confidentiality
• s. 40Access to information
• s. 41Immunity
• s. 42Indemnity
• s. 43Internal audit
• s. 44External audit and reports
• s. 45Exemption from Insurance Act
• s. 46Act binds the Crown
• s. 47Regulations