Office of the Superintendent of Financial Institutions Act

Marginal note:Superintendent to ascertain expenses

• 23 (1) The Superintendent shall, before December 31 in each year, ascertain the total amount of expenses incurred during the immediately preceding fiscal year for or in connection with the administration of the Bank Act, the Cooperative Credit Associations Act, the Green Shield Canada Act, the Insurance Companies Act and the Trust and Loan Companies Act.

• Marginal note:Amount conclusive

  (2) The amount ascertained by the Superintendent under subsection (1) is final and conclusive for the purposes of this section.

• Marginal note:Assessment

  (3) As soon as possible after ascertaining the amount referred to in subsection (1), the Superintendent shall assess the amount against each financial institution, bank holding company and insurance holding company to any extent and in any manner that the Governor in Council may, by regulation, prescribe.

• Marginal note:Interim assessment

  (4) The Superintendent may, during each fiscal year, prepare an interim assessment against any financial institution, bank holding company or insurance holding company.