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Newfoundland Regulation 2001


NEWFOUNDLAND REGULATION 75/01

NEWFOUNDLAND REGULATION 75/01

Credit Union Regulations (Amendment)
under the
Credit Union Act

(Filed October 31, 2001)

Under the authority of section 243 of the Credit Union Act, I make the following regulations.

Dated at St. John’s, October 31, 2001.

Walter Noel
Minister of Government Services and Lands

REGULATIONS

Analysis


        1.   S.43 R&S
Deposit Insurance

 


NR 55/99

        1. Section 43 of the Credit Union Regulations is repealed and the following substituted:

Deposit insurance

      43. (1) The maximum amount that may be paid by the guarantee corporation in respect of deposits of a member shall be $250,000. per deposit of that member.

             (2)  For the purpose of this section, a deposit is a deposit as defined in the Schedule to the Canada Deposit Insurance Corporation Act (Canada).