Deposit Protection Act · s 58

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 58Corporation may pay return on obligatory payment

Where the Corporation makes an obligatory payment under section 51, the Corporation may at its sole discretion pay, in addition to the amount the Corporation is obliged to pay, return on that amount at a rate

Deposit Protection determined by the Corporation for the period commencing on the date of the winding up in respect of a member institution that holds the deposit and ending on the date of the making of the payment in respect of the deposit, but the aggregate of the payments made under this section and section 51 in relation to the deposit shall in no case exceed $50,000.